Faithward Advisors LLC Takes $4.45 Million Position in Incyte Corporation $INCY

Faithward Advisors LLC purchased a new stake in shares of Incyte Corporation (NASDAQ:INCY) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 52,493 shares of the biopharmaceutical company’s stock, valued at approximately $4,452,000.

A number of other institutional investors also recently bought and sold shares of INCY. NewEdge Advisors LLC boosted its stake in Incyte by 369.3% during the first quarter. NewEdge Advisors LLC now owns 12,597 shares of the biopharmaceutical company’s stock worth $763,000 after buying an additional 9,913 shares during the period. Jones Financial Companies Lllp raised its stake in shares of Incyte by 15.1% in the first quarter. Jones Financial Companies Lllp now owns 4,944 shares of the biopharmaceutical company’s stock valued at $299,000 after acquiring an additional 648 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Incyte by 6.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 814,559 shares of the biopharmaceutical company’s stock worth $49,322,000 after acquiring an additional 48,751 shares during the last quarter. United Services Automobile Association bought a new stake in shares of Incyte in the 1st quarter worth about $219,000. Finally, Focus Partners Wealth boosted its stake in shares of Incyte by 74.1% during the 1st quarter. Focus Partners Wealth now owns 21,024 shares of the biopharmaceutical company’s stock worth $1,273,000 after purchasing an additional 8,951 shares during the period. 96.97% of the stock is currently owned by institutional investors.

Insider Activity at Incyte

In other Incyte news, EVP Mohamed Khairie Issa sold 10,856 shares of the firm’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $109.07, for a total transaction of $1,184,063.92. Following the transaction, the executive vice president directly owned 66,132 shares in the company, valued at $7,213,017.24. This trade represents a 14.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Thomas Tray sold 2,774 shares of the firm’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $100.00, for a total value of $277,400.00. Following the transaction, the insider owned 22,973 shares in the company, valued at $2,297,300. The trade was a 10.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 14,230 shares of company stock valued at $1,520,414 in the last ninety days. Insiders own 17.80% of the company’s stock.

Incyte Trading Up 1.3%

INCY stock opened at $94.22 on Wednesday. Incyte Corporation has a 12 month low of $53.56 and a 12 month high of $112.29. The firm’s 50-day moving average is $101.36 and its 200 day moving average is $96.78. The company has a market capitalization of $18.75 billion, a PE ratio of 14.70, a P/E/G ratio of 0.74 and a beta of 0.84. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.32 and a quick ratio of 3.25.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, February 10th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.96 by ($0.16). The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Incyte had a net margin of 25.03% and a return on equity of 26.34%. Incyte’s quarterly revenue was up 27.8% on a year-over-year basis. During the same period last year, the firm earned $1.43 earnings per share. On average, research analysts anticipate that Incyte Corporation will post 4.86 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. The Goldman Sachs Group reiterated a “neutral” rating and set a $90.00 price target on shares of Incyte in a report on Thursday, January 8th. Mizuho set a $121.00 price objective on shares of Incyte and gave the stock an “outperform” rating in a research note on Monday, December 8th. Jefferies Financial Group lowered Incyte from a “buy” rating to a “hold” rating and dropped their target price for the company from $120.00 to $94.00 in a research report on Monday. Weiss Ratings raised Incyte from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. Finally, Piper Sandler increased their price target on Incyte from $102.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. Ten research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $103.44.

Incyte Company Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.