Vestcor Inc Grows Stock Position in Incyte Corporation $INCY

Vestcor Inc boosted its stake in shares of Incyte Corporation (NASDAQ:INCY) by 1,439.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 116,846 shares of the biopharmaceutical company’s stock after acquiring an additional 109,255 shares during the period. Vestcor Inc’s holdings in Incyte were worth $9,910,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Harbor Capital Advisors Inc. purchased a new position in shares of Incyte in the 3rd quarter valued at about $26,000. Root Financial Partners LLC acquired a new position in shares of Incyte during the third quarter worth about $28,000. Quent Capital LLC purchased a new stake in shares of Incyte during the third quarter worth approximately $30,000. MUFG Securities EMEA plc purchased a new stake in shares of Incyte during the second quarter worth approximately $32,000. Finally, CYBER HORNET ETFs LLC acquired a new stake in Incyte in the second quarter valued at approximately $33,000. 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: EU clears label expansion for Incyte’s oncology drug Zynyz as the first systemic therapy with chemotherapy for advanced squamous cell anal cancer (SCAC) — a new addressable market and commercial opportunity in Europe that also validates the drug’s broader oncology utility. INCY Wins EC Approval for Label Expansion of Oncology Drug Zynyz
• Positive Sentiment: HC Wainwright reaffirmed a “buy” rating and set a $135 price target, signaling analyst conviction of ~39% upside from current levels — a catalyst for momentum investors and buy-side interest. HC Wainwright Reaffirms Buy on INCY
• Positive Sentiment: Coverage highlights Incyte’s strong cash flow generation ahead of a key conference, which supports near-term funding for commercialization and pipeline programs and reduces financing risk. This bolsters the stock’s fundamental outlook. Incyte Momentum Builds With Strong Cash Flows Ahead Of Key Conference
• Neutral Sentiment: Evercore ISI maintained a “hold” stance on Incyte, indicating some analysts remain cautious despite approvals and positive cash flow commentary — a reminder of mixed analyst views. Evercore ISI Remains a Hold on Incyte
• Negative Sentiment: The FDA has rejected Incyte’s application to expand Zynyz’s lung cancer indication, not due to clinical data but because of quality/manufacturing issues at a Catalent facility recently acquired by Novo Nordisk — this regulatory snag delays U.S. label expansion and could push back incremental revenue from that indication. FDA Rejects Incyte’s Lung Cancer Application Over Catalent Plant Issues

Analyst Ratings Changes

A number of research analysts recently issued reports on INCY shares. Royal Bank Of Canada decreased their price target on shares of Incyte from $95.00 to $92.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 11th. Piper Sandler raised their price objective on shares of Incyte from $102.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, February 6th. Barclays lifted their price objective on shares of Incyte from $116.00 to $117.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. HC Wainwright reiterated a “buy” rating and set a $135.00 target price on shares of Incyte in a research note on Monday. Finally, Weiss Ratings raised Incyte from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. Ten equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $104.00.

Incyte Stock Up 1.2%

Incyte stock opened at $97.10 on Tuesday. The stock’s 50 day moving average price is $102.24 and its 200 day moving average price is $96.39. Incyte Corporation has a 1-year low of $53.56 and a 1-year high of $112.29. The company has a market cap of $19.32 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 0.76 and a beta of 0.84. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.32 and a quick ratio of 3.25.

Incyte (NASDAQ:INCY) last released its quarterly earnings data 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 return on equity of 26.34% and a net margin of 25.03%.The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the previous year, the company posted $1.43 EPS. The company’s revenue was up 27.8% compared to the same quarter last year. On average, sell-side analysts predict that Incyte Corporation will post 4.86 EPS for the current fiscal year.

Insider Transactions at Incyte

In related news, EVP Michael James Morrissey sold 54,008 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $97.29, for a total transaction of $5,254,438.32. Following the sale, the executive vice president owned 31,830 shares of the company’s stock, valued at approximately $3,096,740.70. The trade was a 62.92% 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 Mohamed Khairie Issa sold 10,856 shares of the company’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $109.07, for a total transaction of $1,184,063.92. Following the transaction, the executive vice president owned 66,132 shares in the company, valued at $7,213,017.24. The trade was a 14.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 72,561 shares of company stock valued at $7,195,307 in the last ninety days. 17.80% of the stock is currently owned by company insiders.

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.