Incyte Corporation $INCY Stock Position Raised by Inspire Investing LLC

Inspire Investing LLC lifted its position in Incyte Corporation (NASDAQ:INCY) by 1.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,310 shares of the biopharmaceutical company’s stock after acquiring an additional 258 shares during the quarter. Inspire Investing LLC’s holdings in Incyte were worth $1,587,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in INCY. AQR Capital Management LLC lifted its position in Incyte by 92.3% in the 1st quarter. AQR Capital Management LLC now owns 6,736,169 shares of the biopharmaceutical company’s stock worth $405,787,000 after buying an additional 3,233,356 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in Incyte by 71.5% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 2,386,311 shares of the biopharmaceutical company’s stock worth $162,508,000 after buying an additional 995,204 shares in the last quarter. Acadian Asset Management LLC lifted its position in Incyte by 65.6% in the 1st quarter. Acadian Asset Management LLC now owns 2,511,872 shares of the biopharmaceutical company’s stock worth $152,062,000 after buying an additional 994,609 shares in the last quarter. Victory Capital Management Inc. lifted its position in Incyte by 581.3% in the 1st quarter. Victory Capital Management Inc. now owns 813,140 shares of the biopharmaceutical company’s stock worth $49,236,000 after buying an additional 693,782 shares in the last quarter. Finally, Jupiter Asset Management Ltd. lifted its position in Incyte by 469.9% in the 1st quarter. Jupiter Asset Management Ltd. now owns 829,764 shares of the biopharmaceutical company’s stock worth $50,242,000 after buying an additional 684,171 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 1,192 shares of the firm’s stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $69.86, for a total value of $83,273.12. Following the transaction, the executive vice president directly owned 37,630 shares of the company’s stock, valued at $2,628,831.80. This trade represents a 3.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Steven H. Stein sold 14,952 shares of the firm’s stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $68.47, for a total transaction of $1,023,763.44. Following the completion of the transaction, the executive vice president directly owned 97,466 shares in the company, valued at approximately $6,673,497.02. This represents a 13.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,257 shares of company stock valued at $2,487,927 in the last ninety days. 17.80% of the stock is currently owned by company insiders.

Incyte Stock Performance

Shares of INCY stock opened at $83.80 on Friday. The stock has a market cap of $16.36 billion, a P/E ratio of 19.05, a P/E/G ratio of 0.65 and a beta of 0.73. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.85 and a quick ratio of 2.78. The company has a fifty day moving average price of $84.32 and a two-hundred day moving average price of $71.64. Incyte Corporation has a one year low of $53.56 and a one year high of $88.66.

Analysts Set New Price Targets

A number of research firms have issued reports on INCY. JPMorgan Chase & Co. increased their target price on shares of Incyte from $73.00 to $89.00 and gave the stock a “neutral” rating in a research report on Thursday. Guggenheim restated a “neutral” rating on shares of Incyte in a report on Friday, September 19th. UBS Group restated a “neutral” rating and set a $68.00 price target (up previously from $62.00) on shares of Incyte in a report on Wednesday, July 30th. Wells Fargo & Company upgraded shares of Incyte from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $67.00 to $89.00 in a report on Wednesday, August 6th. Finally, Bank of America raised their price target on shares of Incyte from $90.00 to $104.00 and gave the company a “buy” rating in a report on Thursday, September 4th. Five equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Incyte has an average rating of “Hold” and a consensus price target of $84.79.

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.