Traub Capital Management LLC Invests $225,000 in Incyte Corporation $INCY

Traub Capital Management LLC purchased a new stake in Incyte Corporation (NASDAQ:INCY) during the 2nd quarter, HoldingsChannel reports. The fund purchased 3,298 shares of the biopharmaceutical company’s stock, valued at approximately $225,000.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Incyte by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 20,135,393 shares of the biopharmaceutical company’s stock worth $1,371,220,000 after purchasing an additional 137,570 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Incyte by 92.3% in the first quarter. AQR Capital Management LLC now owns 6,736,169 shares of the biopharmaceutical company’s stock valued at $405,787,000 after acquiring an additional 3,233,356 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Incyte by 3.3% in the 2nd quarter. Geode Capital Management LLC now owns 4,347,731 shares of the biopharmaceutical company’s stock worth $294,899,000 after acquiring an additional 139,740 shares in the last quarter. LSV Asset Management grew its position in Incyte by 6.2% during the 2nd quarter. LSV Asset Management now owns 3,861,831 shares of the biopharmaceutical company’s stock worth $262,991,000 after acquiring an additional 223,857 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Incyte by 4.0% during the 1st quarter. Invesco Ltd. now owns 3,168,750 shares of the biopharmaceutical company’s stock valued at $191,868,000 after purchasing an additional 120,543 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors.

Insider Transactions at Incyte

In other news, EVP Sheila A. Denton sold 598 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was 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 of the company’s stock, valued at $2,693,033.84. This represents a 2.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Lee Heeson sold 3,074 shares of Incyte stock in a transaction that occurred 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 position. The disclosure for this sale is available in the SEC filing. Insiders sold 4,227 shares of company stock valued at $396,327 in the last quarter. 17.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on INCY shares. Wells Fargo & Company increased their target price on Incyte from $89.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Stifel Nicolaus increased their price objective on shares of Incyte from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Guggenheim raised shares of Incyte from a “neutral” rating to a “buy” rating and set a $125.00 target price for the company in a research note on Monday, November 3rd. BMO Capital Markets reiterated an “underperform” rating and set a $60.00 target price (up from $52.00) on shares of Incyte in a research report on Wednesday, July 30th. 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. Seven 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 data from MarketBeat.com, Incyte presently has a consensus rating of “Hold” and a consensus target price of $92.77.

Incyte Price Performance

Shares of INCY stock opened at $103.89 on Wednesday. The firm’s 50 day moving average price is $91.06 and its two-hundred day moving average price is $78.83. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.78 and a current ratio of 3.20. Incyte Corporation has a 52-week low of $53.56 and a 52-week high of $109.28. The stock has a market cap of $20.40 billion, a PE ratio of 17.40, a PEG ratio of 0.70 and a beta of 0.74.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, October 28th. The biopharmaceutical company reported $2.26 EPS for the quarter, beating the consensus estimate of $1.65 by $0.61. Incyte had a net margin of 24.69% and a return on equity of 26.56%. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the company posted $1.07 EPS. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, analysts forecast that Incyte Corporation will post 4.86 EPS for the current 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.