Incyte Corporation $INCY Shares Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its stake in shares of Incyte Corporation (NASDAQ:INCY) by 18.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 583,382 shares of the biopharmaceutical company’s stock after purchasing an additional 90,466 shares during the quarter. Russell Investments Group Ltd.’s holdings in Incyte were worth $39,768,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of INCY. AQR Capital Management LLC increased its position in shares of Incyte by 92.3% during the 1st quarter. AQR Capital Management LLC now owns 6,736,169 shares of the biopharmaceutical company’s stock valued at $405,787,000 after purchasing an additional 3,233,356 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in shares of Incyte by 71.5% during the second quarter. Robeco Institutional Asset Management B.V. now owns 2,386,311 shares of the biopharmaceutical company’s stock valued at $162,508,000 after acquiring an additional 995,204 shares during the period. Acadian Asset Management LLC lifted its position in shares of Incyte by 65.6% in the 1st quarter. Acadian Asset Management LLC now owns 2,511,872 shares of the biopharmaceutical company’s stock valued at $152,062,000 after acquiring an additional 994,609 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Incyte by 2,325.7% in the 2nd quarter. SG Americas Securities LLC now owns 949,174 shares of the biopharmaceutical company’s stock valued at $64,639,000 after acquiring an additional 910,044 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Incyte in the 2nd quarter worth approximately $50,076,000. 96.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on INCY shares. Wells Fargo & Company lifted their price objective on shares of Incyte from $89.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Oppenheimer cut Incyte from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 8th. Bank of America lifted their price target on Incyte from $90.00 to $104.00 and gave the company a “buy” rating in a report on Thursday, September 4th. Zacks Research lowered Incyte from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Finally, Truist Financial restated a “hold” rating and set a $93.00 price objective (up from $79.00) on shares of Incyte in a research report on Wednesday, October 29th. Seven research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Incyte currently has a consensus rating of “Hold” and an average target price of $93.85.

Insider Activity at Incyte

In related news, EVP Sheila A. Denton sold 598 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $101.36, for a total value of $60,613.28. Following the completion of the sale, the executive vice president directly owned 26,569 shares in the company, valued at approximately $2,693,033.84. This represents a 2.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Lee Heeson sold 3,074 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $94.02, for a total transaction of $289,017.48. Following the transaction, the executive vice president directly owned 29,241 shares in the company, valued at $2,749,238.82. The trade was a 9.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 4,227 shares of company stock valued at $396,327 over the last three months. Insiders own 17.80% of the company’s stock.

Incyte Stock Performance

Shares of NASDAQ INCY opened at $104.49 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.20 and a quick ratio of 2.78. Incyte Corporation has a one year low of $53.56 and a one year high of $109.28. The business’s 50-day moving average price is $94.11 and its two-hundred day moving average price is $81.01. The company has a market capitalization of $20.51 billion, a P/E ratio of 17.50, a price-to-earnings-growth ratio of 0.70 and a beta of 0.74.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, October 28th. The biopharmaceutical company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.61. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.26 billion. Incyte had a return on equity of 26.56% and a net margin of 24.69%.The firm’s revenue was up 20.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.07 EPS. Analysts anticipate that Incyte Corporation will post 4.86 earnings per share for the current fiscal year.

About Incyte

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.