GDS Wealth Management Makes New $449,000 Investment in Incyte Corporation $INCY

GDS Wealth Management acquired a new stake in Incyte Corporation (NASDAQ:INCY) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 6,587 shares of the biopharmaceutical company’s stock, valued at approximately $449,000.

A number of other institutional investors and hedge funds have also made changes to their positions in INCY. FNY Investment Advisers LLC purchased a new position in Incyte in the second quarter worth approximately $27,000. Banque Transatlantique SA purchased a new position in Incyte in the first quarter valued at $26,000. Hilltop National Bank acquired a new position in shares of Incyte during the 2nd quarter worth about $37,000. SVB Wealth LLC acquired a new stake in shares of Incyte during the 1st quarter worth about $39,000. Finally, Geneos Wealth Management Inc. lifted its stake in Incyte by 350.0% during the first quarter. Geneos Wealth Management Inc. now owns 756 shares of the biopharmaceutical company’s stock worth $46,000 after purchasing an additional 588 shares during the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Sheila A. Denton sold 598 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $101.36, for a total transaction of $60,613.28. Following the completion of the transaction, the executive vice president directly owned 26,569 shares of the company’s stock, valued at approximately $2,693,033.84. This represents a 2.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Lee Heeson sold 3,074 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $94.02, for a total value of $289,017.48. Following the completion of the sale, the executive vice president directly owned 29,241 shares of the company’s stock, valued at $2,749,238.82. This represents a 9.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 4,227 shares of company stock valued at $396,327 over the last three months. 17.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

INCY has been the topic of several recent analyst reports. Piper Sandler increased their price target on shares of Incyte from $82.00 to $102.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Truist Financial reiterated a “hold” rating and set a $93.00 price target (up from $79.00) on shares of Incyte in a research note on Wednesday, October 29th. Wells Fargo & Company boosted their price target on shares of Incyte from $89.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Barclays raised their price objective on Incyte from $90.00 to $101.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Finally, Stifel Nicolaus boosted their target price on Incyte from $110.00 to $115.00 and gave the company a “buy” rating in a report on Monday, September 22nd. 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’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $92.77.

Incyte Price Performance

Shares of NASDAQ INCY opened at $101.32 on Thursday. The stock has a fifty day moving average price of $91.36 and a 200 day moving average price of $78.98. Incyte Corporation has a 1-year low of $53.56 and a 1-year high of $109.28. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.20 and a quick ratio of 2.78. The company has a market cap of $19.89 billion, a PE ratio of 16.97, a P/E/G ratio of 0.70 and a beta of 0.74.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, October 28th. The biopharmaceutical company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $1.26 billion. During the same quarter in the prior year, the firm earned $1.07 EPS. Incyte’s quarterly revenue was up 20.0% on a year-over-year basis. Sell-side 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.