Callan Family Office LLC Purchases New Shares in Incyte Corporation $INCY

Callan Family Office LLC purchased a new position in shares of Incyte Corporation (NASDAQ:INCY) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 11,538 shares of the biopharmaceutical company’s stock, valued at approximately $1,308,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Expressive Wealth LLC acquired a new stake in Incyte in the 2nd quarter valued at about $659,000. Allworth Financial LP acquired a new position in shares of Incyte during the second quarter worth approximately $587,000. B. Metzler seel. Sohn & Co. AG acquired a new position in shares of Incyte during the second quarter worth approximately $1,846,000. Vise Technologies Inc. bought a new stake in shares of Incyte during the second quarter valued at approximately $811,000. Finally, OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of Incyte during the second quarter valued at approximately $217,000. Institutional investors own 96.97% of the company’s stock.

Insiders Place Their Bets

In other Incyte news, EVP Patrick A. Mayes sold 41,899 shares of the company’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $119.46, for a total transaction of $5,005,254.54. Following the completion of 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. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Pablo J. Cagnoni sold 10,801 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $125.56, for a total transaction of $1,356,173.56. Following the sale, the insider owned 183,200 shares of the company’s stock, valued at $23,002,592. The trade was a 5.57% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.20% of the stock is currently owned by insiders.

Incyte Price Performance

Shares of NASDAQ:INCY opened at $127.81 on Monday. Incyte Corporation has a one year low of $81.09 and a one year high of $132.60. The company has a 50 day moving average of $116.17 and a 200-day moving average of $104.18. The stock has a market cap of $25.91 billion, a price-to-earnings ratio of 16.28, a P/E/G ratio of 4.05 and a beta of 0.76.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, July 28th. The biopharmaceutical company reported $3.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.94. Incyte had a net margin of 27.71% and a return on equity of 29.93%. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the firm posted $1.57 earnings per share. Incyte’s revenue for the quarter was up 37.7% compared to the same quarter last year. Equities research analysts anticipate that Incyte Corporation will post 2.61 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Sanford C. Bernstein reissued a “market perform” rating and issued a $104.00 price target on shares of Incyte in a report on Thursday, August 13th. BMO Capital Markets increased their price objective on Incyte from $112.00 to $130.00 and gave the company a “market perform” rating in a research report on Wednesday, July 29th. Truist Financial increased their price objective on Incyte from $103.00 to $105.00 and gave the company a “hold” rating in a research report on Monday, June 22nd. Stifel Nicolaus set a $145.00 target price on Incyte in a research note on Tuesday, July 28th. Finally, Benchmark restated a “buy” rating on shares of Incyte in a research report on Thursday. Twelve analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $123.10.

Incyte 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.