Beck Bode LLC Buys New Shares in Incyte Corporation $INCY

Beck Bode LLC purchased a new position in shares of Incyte Corporation (NASDAQ:INCY) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 5,765 shares of the biopharmaceutical company’s stock, valued at approximately $393,000.

A number of other large investors also recently modified their holdings of the business. Cerity Partners LLC raised its holdings in Incyte by 103.5% during the first quarter. Cerity Partners LLC now owns 132,703 shares of the biopharmaceutical company’s stock worth $8,035,000 after acquiring an additional 67,495 shares in the last quarter. CWM LLC increased its position in shares of Incyte by 87.1% during the 1st quarter. CWM LLC now owns 107,429 shares of the biopharmaceutical company’s stock worth $6,505,000 after purchasing an additional 50,005 shares during the last quarter. MQS Management LLC bought a new stake in shares of Incyte during the 1st quarter worth approximately $237,000. Dakota Wealth Management acquired a new stake in shares of Incyte in the 1st quarter valued at approximately $3,116,000. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Incyte by 41.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 198,100 shares of the biopharmaceutical company’s stock valued at $11,995,000 after buying an additional 58,388 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Incyte news, 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 owned 29,241 shares in the company, valued at $2,749,238.82. This trade represents a 9.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Sheila A. Denton sold 598 shares of Incyte stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $101.36, for a total value of $60,613.28. Following the sale, the executive vice president directly owned 26,569 shares of the company’s stock, valued at $2,693,033.84. This represents a 2.20% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 4,227 shares of company stock worth $396,327. 17.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on INCY shares. Guggenheim raised shares of Incyte from a “neutral” rating to a “buy” rating and set a $125.00 price target on the stock in a research report on Monday, November 3rd. Oppenheimer cut shares of Incyte from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Incyte in a report on Wednesday, October 8th. UBS Group reissued a “neutral” rating and set a $68.00 price target (up previously from $62.00) on shares of Incyte in a research report on Wednesday, July 30th. Finally, BMO Capital Markets reaffirmed an “underperform” rating and issued a $60.00 price objective (up from $52.00) on shares of Incyte in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $92.77.

Incyte Trading Up 2.1%

Shares of INCY stock opened at $108.16 on Wednesday. The firm has a 50 day moving average price of $89.16 and a two-hundred day moving average price of $77.29. The company has a quick ratio of 2.78, a current ratio of 3.20 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $21.23 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 0.70 and a beta of 0.74. Incyte Corporation has a 12-month low of $53.56 and a 12-month high of $108.81.

Incyte Company 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.