Fairvoy Private Wealth LLC Buys New Shares in Incyte Corporation $INCY

Fairvoy Private Wealth LLC purchased a new position in shares of Incyte Corporation (NASDAQ:INCY) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,304 shares of the biopharmaceutical company’s stock, valued at approximately $450,000.

Other hedge funds also recently bought and sold shares of the company. Banque Transatlantique SA acquired a new position in shares of Incyte during the first quarter worth about $26,000. FNY Investment Advisers LLC acquired a new stake in Incyte in the second quarter valued at approximately $27,000. MUFG Securities EMEA plc purchased a new position in Incyte in the second quarter worth approximately $32,000. CYBER HORNET ETFs LLC acquired a new position in Incyte during the 2nd quarter worth approximately $33,000. Finally, Hilltop National Bank purchased a new stake in shares of Incyte in the 2nd quarter valued at approximately $37,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte News Summary

Here are the key news stories impacting Incyte this week:

• Positive Sentiment: EC approves label expansion for Minjuvi (tafasitamab) to treat relapsed/refractory follicular lymphoma — expands European commercial opportunity and supports revenue upside for an approved oncology product. Zacks: EC Approves Label Expansion of INCY’s Lymphoma Drug Minjuvi
• Neutral Sentiment: Incyte launched a Phase 3 trial of INCA33890 in colorectal cancer — a meaningful advance in the pipeline that could drive long-term upside if successful, but clinical readouts are distant and binary. TipRanks: Incyte Steps Into Late-Stage Colorectal Cancer Race
• Negative Sentiment: Big insider sales by EVP Michael James Morrissey — filings show 54,008 shares sold (~$5.25M at ~$97.29) and an additional 4,323 shares (~$420k), materially reducing his stake. Large, clustered insider sales can signal near-term selling pressure or raise governance/speculation concerns even though the insider still holds stock. InsiderTrades: Incyte EVP Sells $420k in Stock

Insider Buying and Selling at Incyte

In related news, EVP Sheila A. Denton sold 598 shares of the stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $101.36, for a total transaction of $60,613.28. Following the completion of the sale, the executive vice president owned 26,569 shares in the company, valued at $2,693,033.84. This represents a 2.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lee Heeson sold 3,074 shares of Incyte stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $94.02, for a total transaction of $289,017.48. Following the completion of the transaction, the executive vice president owned 29,241 shares in the company, valued at approximately $2,749,238.82. This represents a 9.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 84,944 shares of company stock worth $8,372,543 in the last 90 days. Company insiders own 17.80% of the company’s stock.

Analyst Upgrades and Downgrades

INCY has been the topic of several recent analyst reports. Zacks Research lowered Incyte from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Wells Fargo & Company upped their price objective on Incyte from $97.00 to $116.00 and gave the stock an “overweight” rating in a research report on Monday, December 8th. Mizuho set a $121.00 target price on Incyte and gave the stock an “outperform” rating in a research report on Monday, December 8th. Wall Street Zen upgraded Incyte from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. Finally, Royal Bank Of Canada increased their price target on shares of Incyte from $81.00 to $84.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 29th. Eight investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $99.07.

Incyte Stock Up 5.5%

Shares of NASDAQ INCY opened at $102.69 on Friday. The business has a 50-day moving average price of $98.21 and a 200 day moving average price of $84.61. The stock has a market cap of $20.16 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 0.66 and a beta of 0.81. The company has a quick ratio of 3.13, a current ratio of 3.20 and a debt-to-equity ratio of 0.01. Incyte Corporation has a 52-week low of $53.56 and a 52-week high of $109.28.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, October 28th. The biopharmaceutical company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.61. The company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Incyte had a return on equity of 26.56% and a net margin of 24.69%.The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.07 earnings per share. Equities research analysts forecast that Incyte Corporation will post 4.86 earnings per share for the current year.

About Incyte

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.