Incyte Corporation $INCY Position Raised by Corient Private Wealth LLC

Corient Private Wealth LLC lifted its position in shares of Incyte Corporation (NASDAQ:INCY) by 39.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 44,480 shares of the biopharmaceutical company’s stock after acquiring an additional 12,591 shares during the period. Corient Private Wealth LLC’s holdings in Incyte were worth $4,393,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the company. Elyxium Wealth LLC bought a new position in Incyte in the 4th quarter worth about $28,000. Smithfield Trust Co grew its holdings in Incyte by 135.0% in the 4th quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 162 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in Incyte in the 4th quarter valued at approximately $35,000. Atlas Capital Advisors Inc. bought a new stake in Incyte during the 4th quarter valued at $35,000. Finally, Leonteq Securities AG acquired a new position in Incyte during the 4th quarter worth $35,000. 96.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

INCY has been the topic of a number of research analyst reports. HC Wainwright reissued a “buy” rating and set a $140.00 price target on shares of Incyte in a report on Wednesday. Jefferies Financial Group cut shares of Incyte from a “buy” rating to a “hold” rating and lowered their target price for the company from $120.00 to $94.00 in a research note on Monday, March 16th. Barclays reaffirmed an “overweight” rating on shares of Incyte in a research note on Tuesday, March 24th. BMO Capital Markets raised Incyte from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $75.00 to $94.00 in a report on Monday. Finally, Oppenheimer restated a “market perform” rating and issued a $107.00 target price on shares of Incyte in a research report on Monday, June 8th. Eight equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to MarketBeat, Incyte currently has an average rating of “Hold” and an average price target of $107.85.

Insiders Place Their Bets

In other Incyte news, insider Pablo J. Cagnoni sold 18,667 shares of the stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $96.50, for a total value of $1,801,365.50. Following the completion of the sale, the insider owned 262,692 shares in the company, valued at $25,349,778. This represents a 6.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 16.20% of the company’s stock.

Incyte Trading Up 5.8%

NASDAQ:INCY opened at $113.75 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.68 and a quick ratio of 3.60. Incyte Corporation has a fifty-two week low of $66.83 and a fifty-two week high of $115.56. The stock’s 50-day moving average is $99.28 and its two-hundred day moving average is $99.17. The stock has a market cap of $22.72 billion, a PE ratio of 16.07, a price-to-earnings-growth ratio of 1.05 and a beta of 0.79.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.43. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.22 billion. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The firm’s revenue was up 20.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.16 earnings per share. As a group, equities research analysts forecast that Incyte Corporation will post 6.61 earnings per share for the current fiscal year.

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.