EP Wealth Advisors LLC Buys Shares of 10,863 Incyte Corporation $INCY

EP Wealth Advisors LLC purchased a new stake in shares of Incyte Corporation (NASDAQ:INCYFree Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 10,863 shares of the biopharmaceutical company’s stock, valued at approximately $1,231,000.

Several other institutional investors and hedge funds also recently made changes to their positions in INCY. NewEdge Advisors LLC raised its holdings in Incyte by 369.3% in the 1st quarter. NewEdge Advisors LLC now owns 12,597 shares of the biopharmaceutical company’s stock valued at $763,000 after buying an additional 9,913 shares during the last quarter. Jones Financial Companies Lllp increased its position in Incyte by 15.1% in the 1st quarter. Jones Financial Companies Lllp now owns 4,944 shares of the biopharmaceutical company’s stock valued at $299,000 after acquiring an additional 648 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Incyte by 6.4% during the first quarter. Goldman Sachs Group Inc. now owns 814,559 shares of the biopharmaceutical company’s stock valued at $49,322,000 after acquiring an additional 48,751 shares during the last quarter. United Services Automobile Association bought a new position in shares of Incyte during the first quarter valued at $219,000. Finally, Focus Partners Wealth lifted its holdings in shares of Incyte by 74.1% during the first quarter. Focus Partners Wealth now owns 21,024 shares of the biopharmaceutical company’s stock worth $1,273,000 after purchasing an additional 8,951 shares during the period. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analyst Ratings Changes

INCY has been the topic of several research reports. TD Cowen restated a “hold” rating on shares of Incyte in a report on Tuesday, June 9th. Benchmark reiterated a “buy” rating on shares of Incyte in a report on Thursday. Sanford C. Bernstein reissued a “market perform” rating and set a $104.00 target price on shares of Incyte in a research report on Thursday, August 13th. Guggenheim upped their target price on shares of Incyte from $136.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Finally, Royal Bank Of Canada lifted their price target on Incyte from $99.00 to $109.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 29th. Twelve equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $123.10.

Read Our Latest Stock Report on Incyte

Insider Buying and Selling

In related news, insider Pablo J. Cagnoni sold 10,801 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $125.56, for a total transaction of $1,356,173.56. Following the completion of the transaction, the insider owned 183,200 shares of the company’s stock, valued at approximately $23,002,592. The trade was a 5.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Patrick A. Mayes sold 41,899 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $119.46, for a total transaction of $5,005,254.54. Following the sale, the executive vice president directly owned 61,441 shares in the company, valued at $7,339,741.86. This trade represents a 40.54% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.20% of the stock is currently owned by company insiders.

Incyte Stock Performance

Shares of INCY opened at $127.81 on Monday. Incyte Corporation has a 52-week low of $81.09 and a 52-week high of $132.60. The stock’s 50-day simple moving average is $116.17 and its 200 day simple moving average is $104.18. The stock has a market capitalization of $25.91 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 4.05 and a beta of 0.76.

Incyte (NASDAQ:INCYGet Free Report) last posted its earnings results on Tuesday, July 28th. The biopharmaceutical company reported $3.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.94. Incyte had a return on equity of 29.93% and a net margin of 27.71%.The business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the firm earned $1.57 EPS. The company’s quarterly revenue was up 37.7% compared to the same quarter last year. On average, research analysts forecast that Incyte Corporation will post 2.61 earnings per share for the current fiscal year.

Incyte Profile

(Free Report)

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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