Incyte Corporation $INCY Shares Acquired by Korea Investment CORP

Korea Investment CORP grew its position in shares of Incyte Corporation (NASDAQ:INCY) by 190.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 229,326 shares of the biopharmaceutical company’s stock after buying an additional 150,300 shares during the period. Korea Investment CORP’s holdings in Incyte were worth $19,449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have 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 worth $763,000 after purchasing an additional 9,913 shares during the period. Jones Financial Companies Lllp grew its stake 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. grew its stake in Incyte by 6.4% in the 1st 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 period. United Services Automobile Association purchased a new stake in Incyte in the 1st quarter worth $219,000. Finally, Focus Partners Wealth increased its holdings in Incyte by 74.1% in the 1st quarter. Focus Partners Wealth now owns 21,024 shares of the biopharmaceutical company’s stock worth $1,273,000 after acquiring an additional 8,951 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Thomas Tray sold 2,774 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $100.00, for a total value of $277,400.00. Following the completion of the sale, the insider directly owned 22,973 shares in the company, valued at $2,297,300. This represents a 10.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael James Morrissey sold 4,323 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $97.26, for a total value of $420,454.98. Following the completion of the sale, the executive vice president directly owned 27,507 shares of the company’s stock, valued at approximately $2,675,330.82. This represents a 13.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 72,561 shares of company stock worth $7,195,307 over the last ninety days. Corporate insiders own 17.80% of the company’s stock.

Incyte Price Performance

Shares of NASDAQ INCY opened at $96.02 on Wednesday. The stock has a market capitalization of $19.11 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 0.77 and a beta of 0.84. Incyte Corporation has a 52 week low of $53.56 and a 52 week high of $112.29. The firm has a 50-day simple moving average of $102.18 and a 200-day simple moving average of $96.47. The company has a quick ratio of 3.25, a current ratio of 3.32 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, February 10th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.96 by ($0.16). Incyte had a net margin of 25.03% and a return on equity of 26.34%. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the prior year, the company posted $1.43 EPS. The firm’s revenue was up 27.8% on a year-over-year basis. On average, equities analysts predict that Incyte Corporation will post 4.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Stifel Nicolaus increased their price objective on shares of Incyte from $119.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. TD Cowen reissued a “buy” rating on shares of Incyte in a research note on Tuesday, January 13th. Piper Sandler upped their price target on shares of Incyte from $102.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. Weiss Ratings raised shares of Incyte from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $90.00 price objective on shares of Incyte in a report on Thursday, January 8th. Ten investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $104.00.

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.