Generali Asset Management SPA SGR Acquires 14,943 Shares of Incyte Corporation $INCY

Generali Asset Management SPA SGR boosted its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 93.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,934 shares of the biopharmaceutical company’s stock after purchasing an additional 14,943 shares during the period. Generali Asset Management SPA SGR’s holdings in Incyte were worth $2,107,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in INCY. Farther Finance Advisors LLC lifted its stake in Incyte by 474.1% during the first quarter. Farther Finance Advisors LLC now owns 1,550 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 1,280 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Incyte by 37.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 8,846 shares of the biopharmaceutical company’s stock valued at $536,000 after acquiring an additional 2,418 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Incyte by 66.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 79,735 shares of the biopharmaceutical company’s stock valued at $4,828,000 after acquiring an additional 31,851 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Incyte by 10.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 29,793 shares of the biopharmaceutical company’s stock valued at $1,804,000 after acquiring an additional 2,746 shares during the last quarter. Finally, Clarius Group LLC bought a new position in shares of Incyte in the 1st quarter valued at $203,000. 96.97% of the stock is currently owned by institutional investors.

Incyte Stock Down 1.0%

Shares of NASDAQ:INCY opened at $87.31 on Friday. The firm has a market cap of $17.05 billion, a P/E ratio of 19.84, a P/E/G ratio of 0.69 and a beta of 0.73. The company has a quick ratio of 2.78, a current ratio of 2.85 and a debt-to-equity ratio of 0.01. Incyte Corporation has a 12-month low of $53.56 and a 12-month high of $92.86. The business has a fifty day simple moving average of $85.01 and a 200 day simple moving average of $72.28.

Insider Transactions at Incyte

In related news, EVP Steven H. Stein sold 3,706 shares of the firm’s stock in a transaction on Monday, July 21st. The stock was sold at an average price of $67.94, for a total transaction of $251,785.64. Following the completion of the transaction, the executive vice president directly owned 102,886 shares of the company’s stock, valued at $6,990,074.84. This trade represents a 3.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 17.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on INCY. Bank of America increased their price target on Incyte from $90.00 to $104.00 and gave the company a “buy” rating in a research note on Thursday, September 4th. Truist Financial increased their price target on Incyte from $73.00 to $79.00 and gave the company a “hold” rating in a research note on Wednesday, July 30th. Royal Bank Of Canada increased their price target on Incyte from $72.00 to $81.00 and gave the company a “sector perform” rating in a research note on Wednesday, September 24th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Incyte in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. increased their price target on Incyte from $73.00 to $89.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Incyte currently has a consensus rating of “Hold” and an average target price of $84.79.

Incyte Profile

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.