5,809 Shares in Incyte Corporation $INCY Purchased by Expressive Wealth LLC

Expressive Wealth LLC acquired a new stake in Incyte Corporation (NASDAQ:INCY) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 5,809 shares of the biopharmaceutical company’s stock, valued at approximately $659,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Incyte during the second quarter valued at approximately $2,044,189,000. Geode Capital Management LLC boosted its position in shares of Incyte by 11.3% during the fourth quarter. Geode Capital Management LLC now owns 4,993,012 shares of the biopharmaceutical company’s stock worth $491,500,000 after buying an additional 506,842 shares during the period. Invesco Ltd. grew its holdings in Incyte by 13.2% in the 4th quarter. Invesco Ltd. now owns 3,473,781 shares of the biopharmaceutical company’s stock worth $343,105,000 after buying an additional 405,611 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Incyte by 13.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,103,946 shares of the biopharmaceutical company’s stock worth $263,246,000 after buying an additional 373,298 shares in the last quarter. Finally, Morgan Stanley increased its position in Incyte by 0.9% in the 4th quarter. Morgan Stanley now owns 2,663,823 shares of the biopharmaceutical company’s stock valued at $263,106,000 after acquiring an additional 23,087 shares during the period. 96.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

INCY has been the topic of several recent analyst reports. TD Cowen reaffirmed a “hold” rating on shares of Incyte in a research note on Tuesday, June 9th. Barclays increased their price target on Incyte from $134.00 to $139.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Benchmark reissued a “buy” rating on shares of Incyte in a report on Thursday. Sanford C. Bernstein restated a “market perform” rating and set a $104.00 price objective on shares of Incyte in a research note on Thursday, August 13th. Finally, Royal Bank Of Canada upped their price objective on shares of Incyte from $99.00 to $109.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 29th. Twelve equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $123.10.

Incyte Price Performance

INCY opened at $127.81 on Friday. The company has a market capitalization of $25.91 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 4.03 and a beta of 0.76. Incyte Corporation has a 1-year low of $81.09 and a 1-year high of $132.60. The business has a 50 day moving average price of $116.17 and a two-hundred day moving average price of $104.17.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, July 28th. The biopharmaceutical company reported $3.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.94. Incyte had a return on equity of 29.93% and a net margin of 27.71%.The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the company posted $1.57 EPS. The firm’s quarterly revenue was up 37.7% on a year-over-year basis. Equities analysts expect that Incyte Corporation will post 2.61 EPS for the current fiscal year.

Insider Buying and Selling at Incyte

In related news, EVP Patrick A. Mayes sold 41,899 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $119.46, for a total transaction of $5,005,254.54. Following the completion of the transaction, the executive vice president owned 61,441 shares of the company’s stock, valued at $7,339,741.86. This trade represents a 40.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Pablo J. Cagnoni sold 10,801 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $125.56, for a total value of $1,356,173.56. Following the transaction, the insider directly owned 183,200 shares of the company’s stock, valued at $23,002,592. This represents a 5.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 16.20% of the company’s stock.

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.