Impact Partnership Wealth LLC Purchases New Stake in Incyte Corporation $INCY

Impact Partnership Wealth LLC acquired a new position in Incyte Corporation (NASDAQ:INCY) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,763 shares of the biopharmaceutical company’s stock, valued at approximately $743,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in INCY. Harbor Capital Advisors Inc. acquired a new stake in shares of Incyte during the 3rd quarter valued at approximately $26,000. FNY Investment Advisers LLC acquired a new position in Incyte during the second quarter worth $27,000. Root Financial Partners LLC acquired a new position in Incyte during the third quarter worth $28,000. Quent Capital LLC purchased a new stake in Incyte during the third quarter worth $30,000. Finally, MUFG Securities EMEA plc purchased a new stake in shares of Incyte in the 2nd quarter worth about $32,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insider Activity

In other Incyte news, EVP Mohamed Khairie Issa sold 10,856 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $109.07, for a total value of $1,184,063.92. Following the completion of the transaction, the executive vice president owned 66,132 shares in the company, valued at $7,213,017.24. This represents a 14.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Tray sold 2,774 shares of the stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $100.00, for a total transaction of $277,400.00. Following the completion of the sale, the insider directly owned 22,973 shares of the company’s stock, valued at $2,297,300. This trade represents a 10.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 98,897 shares of company stock worth $9,869,376 in the last ninety days. 17.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

INCY has been the subject of a number of research reports. Guggenheim upgraded shares of Incyte from a “neutral” rating to a “buy” rating and set a $125.00 target price for the company in a research report on Monday, November 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Incyte in a research report on Thursday, January 22nd. Royal Bank Of Canada lifted their price objective on Incyte from $81.00 to $84.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 29th. Oppenheimer lowered shares of Incyte from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 8th. Finally, TD Cowen restated a “buy” rating on shares of Incyte in a research report on Tuesday, January 13th. Eight equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $100.75.

Incyte Trading Down 0.1%

Shares of INCY stock opened at $101.08 on Friday. 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 fifty-two week low of $53.56 and a fifty-two week high of $112.29. The firm’s 50 day moving average price is $101.93 and its two-hundred day moving average price is $91.54. The stock has a market cap of $19.84 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 0.60 and a beta of 0.82.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, October 28th. The biopharmaceutical company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.61. Incyte had a net margin of 24.69% and a return on equity of 26.56%. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the firm posted $1.07 EPS. The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. On average, analysts anticipate that Incyte Corporation will post 4.86 EPS 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.