Incyte Corporation $INCY Stake Trimmed by Summit Global Investments

Summit Global Investments lessened its stake in Incyte Corporation (NASDAQ:INCY) by 62.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,003 shares of the biopharmaceutical company’s stock after selling 34,367 shares during the period. Summit Global Investments’ holdings in Incyte were worth $2,549,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in shares of Incyte by 54.8% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 844,389 shares of the biopharmaceutical company’s stock valued at $102,467,000 after purchasing an additional 299,014 shares during the period. Parcion Private Wealth LLC boosted its position in Incyte by 3.7% during the third quarter. Parcion Private Wealth LLC now owns 5,839 shares of the biopharmaceutical company’s stock worth $709,000 after purchasing an additional 206 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Incyte by 16.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 36,984 shares of the biopharmaceutical company’s stock worth $4,556,000 after buying an additional 5,189 shares during the period. D.A. Davidson & CO. raised its stake in shares of Incyte by 10.1% during the 3rd quarter. D.A. Davidson & CO. now owns 7,743 shares of the biopharmaceutical company’s stock worth $940,000 after buying an additional 710 shares during the period. Finally, Motley Fool Asset Management LLC lifted its position in shares of Incyte by 59.8% during the 3rd quarter. Motley Fool Asset Management LLC now owns 5,258 shares of the biopharmaceutical company’s stock valued at $638,000 after buying an additional 1,967 shares in the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

More Incyte News

Here are the key news stories impacting Incyte this week:

• Positive Sentiment: Incyte reported third-quarter revenue of $1.56 billion, up 14% year over year and above the $1.46 billion analyst estimate. Adjusted loss of $3.60 per share was narrower than expected, helping support the stock. INCY Q3 Loss Narrower Than Expected, Sales Beat, FY’26 View Raised
• Positive Sentiment: The company raised 2026 total net-sales guidance to $5.21 billion-$5.30 billion, from $5.13 billion-$5.26 billion previously. Opzelura guidance was also increased to $1.10 billion-$1.12 billion, reflecting continued demand. Incyte signals 2026 net sales outlook as Opzelura guidance rises
• Positive Sentiment: Product trends were favorable: Opzelura sales rose 36% to $255 million, while hematology and oncology portfolio sales increased 38% to $235 million. Jakafi and Jakafi XR sales grew 4% to $827 million. Incyte Reports $1.56 Billion Third-Quarter Revenue and Raises 2026 Sales Guidance
• Positive Sentiment: Barclays raised its price target from $139 to $143 and maintained an “overweight” rating, implying substantial upside and reinforcing the bullish reaction. Barclays Incyte analyst recommendation
• Neutral Sentiment: Wells Fargo lowered its target slightly to $127 and kept an “equal weight” rating, while RBC raised its target to $117 but retained a “sector perform” rating. The changes indicate limited conviction among some analysts. Wells Fargo Incyte analyst recommendation
• Negative Sentiment: Incyte posted a GAAP loss largely because of a $1.23 billion in-process research and development charge tied to the Vega Therapeutics acquisition. The unusual charge obscures underlying operating strength and may keep investors focused on acquisition execution. Incyte Posts Q3 Loss on Vega Acquisition Charge

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on INCY shares. UBS Group set a $152.00 price target on shares of Incyte in a research note on Friday. Wall Street Zen cut shares of Incyte from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. Stifel Nicolaus increased their price objective on shares of Incyte from $145.00 to $157.00 and gave the company a “buy” rating in a report on Monday, October 5th. Weiss Ratings lowered shares of Incyte from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, October 23rd. Finally, Oppenheimer set a $152.00 target price on shares of Incyte in a research note on Tuesday. Twelve analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Incyte has a consensus rating of “Hold” and a consensus target price of $132.90.

Incyte Trading Up 3.1%

Shares of NASDAQ INCY opened at $120.39 on Friday. Incyte Corporation has a 12-month low of $89.25 and a 12-month high of $132.60. The stock has a market cap of $24.40 billion, a PE ratio of 64.04, a P/E/G ratio of 4.98 and a beta of 0.74. The company has a 50-day moving average of $120.49 and a 200 day moving average of $108.14.

Incyte (NASDAQ:INCY) last released its earnings results on Thursday, October 29th. The biopharmaceutical company reported ($3.60) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.93) by $0.33. The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.46 billion. Incyte had a net margin of 6.71% and a return on equity of 7.92%. The business’s revenue was up 14.0% on a year-over-year basis. During the same period last year, the company posted $2.26 EPS. On average, sell-side analysts forecast that Incyte Corporation will post 1.97 EPS for the current fiscal year.

Insider Activity

In related news, insider Pablo Cagnoni sold 2,642 shares of the stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $112.71, for a total value of $297,779.82. Following the completion of the sale, the insider owned 183,200 shares of the company’s stock, valued at approximately $20,648,472. This trade represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.20% of the stock is owned by company insiders.

Incyte Company Profile

Incyte Corporation is a biopharmaceutical company that discovers, develops and commercializes medicines for oncology and inflammatory or autoimmune diseases. The company focuses on therapies that target specific biological pathways, including Janus kinase (JAK), fibroblast growth factor receptor (FGFR) and other mechanisms involved in cancer and immune-related conditions.

Its key products include Jakafi (ruxolitinib), a JAK inhibitor used in the United States for certain blood cancers and graft-versus-host disease; Opzelura (ruxolitinib cream), a topical treatment for atopic dermatitis and nonsegmental vitiligo; and Pemazyre (pemigatinib), an FGFR inhibitor approved for selected patients with cholangiocarcinoma and certain myeloid or lymphoid neoplasms.