Russell Investments Group Ltd. Has $68.44 Million Stock Position in Incyte Corporation $INCY

Russell Investments Group Ltd. grew its holdings in Incyte Corporation (NASDAQ:INCY) by 38.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 808,584 shares of the biopharmaceutical company’s stock after purchasing an additional 225,202 shares during the period. Russell Investments Group Ltd. owned about 0.41% of Incyte worth $68,436,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in INCY. NewEdge Advisors LLC boosted its holdings in Incyte by 369.3% during the first 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 last quarter. Jones Financial Companies Lllp increased 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 buying an additional 648 shares during the last quarter. Goldman Sachs Group Inc. increased 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 buying an additional 48,751 shares during the last quarter. United Services Automobile Association bought a new stake in Incyte during the 1st quarter worth about $219,000. Finally, Focus Partners Wealth boosted its stake in shares of Incyte by 74.1% during the 1st quarter. Focus Partners Wealth now owns 21,024 shares of the biopharmaceutical company’s stock worth $1,273,000 after buying an additional 8,951 shares during the last quarter. Institutional investors own 96.97% of the company’s stock.

Incyte Stock Down 1.1%

Incyte stock opened at $96.02 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.32 and a quick ratio of 3.25. The company’s 50-day moving average is $102.18 and its 200-day moving average is $96.47. The firm has a market capitalization of $19.11 billion, a PE ratio of 14.98, a P/E/G ratio of 0.77 and a beta of 0.84. Incyte Corporation has a fifty-two week low of $53.56 and a fifty-two week high of $112.29.

Incyte (NASDAQ:INCY) last issued its earnings results 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 firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the business posted $1.43 earnings per share. The company’s revenue for the quarter was up 27.8% on a year-over-year basis. Sell-side analysts anticipate that Incyte Corporation will post 4.86 earnings per share for the current year.

Insider Buying and Selling at Incyte

In other Incyte 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 sale, the insider 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 filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael James Morrissey sold 4,323 shares of Incyte stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $97.26, for a total value of $420,454.98. Following the transaction, the executive vice president owned 27,507 shares of the company’s stock, valued at $2,675,330.82. This represents a 13.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 72,561 shares of company stock worth $7,195,307 over the last 90 days. Company insiders own 17.80% of the company’s stock.

Analyst Ratings Changes

INCY has been the subject of several analyst reports. Mizuho set a $121.00 price objective on Incyte and gave the company an “outperform” rating in a report on Monday, December 8th. Royal Bank Of Canada dropped their target price on Incyte from $95.00 to $92.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 11th. HC Wainwright restated a “buy” rating and issued a $135.00 price target on shares of Incyte in a research note on Monday. TD Cowen reaffirmed a “buy” rating on shares of Incyte in a research report on Tuesday, January 13th. Finally, Truist Financial set a $103.00 price objective on Incyte in a research note on Wednesday, December 24th. Ten investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price 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.