denkapparat Operations GmbH Buys 3,564 Shares of Incyte Corporation $INCY

denkapparat Operations GmbH grew its stake in shares of Incyte Corporation (NASDAQ:INCY) by 46.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,292 shares of the biopharmaceutical company’s stock after acquiring an additional 3,564 shares during the period. denkapparat Operations GmbH’s holdings in Incyte were worth $769,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cerity Partners LLC boosted its stake in Incyte by 103.5% in the 1st quarter. Cerity Partners LLC now owns 132,703 shares of the biopharmaceutical company’s stock valued at $8,035,000 after purchasing an additional 67,495 shares during the period. CWM LLC lifted its holdings in shares of Incyte by 87.1% during the first quarter. CWM LLC now owns 107,429 shares of the biopharmaceutical company’s stock worth $6,505,000 after buying an additional 50,005 shares in the last quarter. MQS Management LLC bought a new stake in shares of Incyte in the first quarter valued at about $237,000. Dakota Wealth Management acquired a new position in shares of Incyte in the first quarter valued at about $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 acquiring an additional 58,388 shares in the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. UBS Group reiterated a “neutral” rating and issued a $68.00 price objective (up previously from $62.00) on shares of Incyte in a research note on Wednesday, July 30th. Citigroup lifted their price target on shares of Incyte from $88.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, July 30th. Barclays boosted their price target on Incyte from $90.00 to $101.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Weiss Ratings restated a “hold (c+)” rating on shares of Incyte in a research note on Wednesday, October 8th. Finally, Bank of America upped their target price on Incyte from $90.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Incyte currently has a consensus rating of “Hold” and an average price target of $92.77.

Insider Buying and Selling at Incyte

In related news, EVP Lee Heeson sold 3,074 shares of the company’s 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 completion of the sale, the executive vice president directly owned 29,241 shares in the company, valued at $2,749,238.82. This represents a 9.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Sheila A. Denton sold 598 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were 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 in the company, valued at $2,693,033.84. This trade represents a 2.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 4,227 shares of company stock valued at $396,327. 17.80% of the stock is owned by corporate insiders.

Incyte Stock Up 2.1%

Shares of INCY opened at $108.16 on Wednesday. The firm has a 50 day simple moving average of $89.16 and a two-hundred day simple moving average of $77.29. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.20 and a quick ratio of 2.78. Incyte Corporation has a one year low of $53.56 and a one year high of $108.81. The company has a market cap of $21.23 billion, a P/E ratio of 18.12, a P/E/G ratio of 0.70 and a beta of 0.74.

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.