Edmond DE Rothschild Holding S.A. bought a new stake in shares of Incyte Corporation (NASDAQ:INCY – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 7,394 shares of the biopharmaceutical company’s stock, valued at approximately $838,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in INCY. NewEdge Advisors LLC boosted its holdings in shares of Incyte by 369.3% in the first quarter. NewEdge Advisors LLC now owns 12,597 shares of the biopharmaceutical company’s stock valued at $763,000 after acquiring an additional 9,913 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Incyte by 15.1% during the first quarter. Jones Financial Companies Lllp now owns 4,944 shares of the biopharmaceutical company’s stock worth $299,000 after purchasing an additional 648 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Incyte by 6.4% during the first quarter. Goldman Sachs Group Inc. now owns 814,559 shares of the biopharmaceutical company’s stock worth $49,322,000 after purchasing an additional 48,751 shares in the last quarter. United Services Automobile Association acquired a new stake in Incyte in the first quarter worth approximately $219,000. Finally, Focus Partners Wealth lifted its position in Incyte by 74.1% in 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. 96.97% of the stock is currently owned by institutional investors.
Incyte Stock Performance
Shares of NASDAQ:INCY opened at $127.22 on Friday. The company has a market capitalization of $25.79 billion, a PE ratio of 16.21, a price-to-earnings-growth ratio of 4.07 and a beta of 0.76. The stock has a fifty day moving average of $115.79 and a 200-day moving average of $104.00. Incyte Corporation has a one year low of $81.09 and a one year high of $132.60.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Incyte from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday, July 23rd. Guggenheim raised their target price on Incyte from $136.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Royal Bank Of Canada lifted their target price on Incyte from $99.00 to $109.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 29th. Piper Sandler upped their price target on shares of Incyte from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Monday. Finally, Truist Financial upped their price target on shares of Incyte from $103.00 to $105.00 and gave the company a “hold” rating in a report on Monday, June 22nd. Twelve research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $123.10.
View Our Latest Report on INCY
Insiders Place Their Bets
In related news, insider Pablo J. Cagnoni sold 10,801 shares of Incyte stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $125.56, for a total value of $1,356,173.56. Following the transaction, the insider owned 183,200 shares of the company’s stock, valued at approximately $23,002,592. This trade represents a 5.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Patrick A. Mayes sold 41,899 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $119.46, for a total value of $5,005,254.54. Following the sale, the executive vice president owned 61,441 shares in the company, valued at approximately $7,339,741.86. The trade was a 40.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 16.20% of the company’s stock.
Incyte Company Profile
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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