Incyte Corporation $INCY Stock Sold by North Dakota State Investment Board

North Dakota State Investment Board cut its holdings in Incyte Corporation (NASDAQ:INCY) by 38.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,258 shares of the biopharmaceutical company’s stock after selling 6,420 shares during the period. North Dakota State Investment Board’s holdings in Incyte were worth $1,245,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in INCY. Trails Edge Capital Partners LP purchased a new stake in Incyte during the second quarter valued at approximately $17,570,800. Twin Capital Management Inc. bought a new stake in shares of Incyte in the 1st quarter valued at approximately $875,000. BlackRock Inc. purchased a new position in shares of Incyte in the 2nd quarter worth approximately $2,044,189,000. Tidal Investments LLC boosted its holdings in shares of Incyte by 33.4% in the 2nd quarter. Tidal Investments LLC now owns 102,834 shares of the biopharmaceutical company’s stock worth $11,657,000 after purchasing an additional 25,768 shares during the period. Finally, Mediolanum International Funds Ltd boosted its holdings in shares of Incyte by 25.4% in the 1st quarter. Mediolanum International Funds Ltd now owns 60,300 shares of the biopharmaceutical company’s stock worth $5,447,000 after purchasing an additional 12,227 shares during the period. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on INCY shares. UBS Group set a $152.00 price target on Incyte in a research report on Friday. Mizuho boosted their price objective on shares of Incyte from $121.00 to $137.00 and gave the company an “outperform” rating in a research report on Tuesday, August 4th. Barclays boosted their price objective on shares of Incyte from $139.00 to $143.00 and gave the company an “overweight” rating in a research report on Friday. Leerink Partners increased their target price on shares of Incyte from $131.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $104.00 target price on shares of Incyte in a report on Thursday, August 13th. Twelve research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Incyte has a consensus rating of “Hold” and a consensus price target of $132.90.

Incyte Stock Up 3.1%

INCY opened at $120.39 on Friday. The business has a fifty day moving average of $120.49 and a 200 day moving average of $108.14. The stock has a market cap of $24.40 billion, a P/E ratio of 55.09, a PEG ratio of 4.83 and a beta of 0.74. Incyte Corporation has a 52-week low of $89.25 and a 52-week high of $132.60.

Incyte (NASDAQ:INCY) last released its earnings results on Thursday, October 29th. The biopharmaceutical company reported ($3.60) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.93) by $0.33. Incyte had a return on equity of 7.92% and a net margin of 6.71%. The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the firm posted $2.26 earnings per share. The business’s revenue was up 14.0% compared to the same quarter last year. Equities analysts anticipate that Incyte Corporation will post 1.97 EPS for the current fiscal year.

Insider Activity

In other news, insider Pablo Cagnoni sold 2,642 shares of the company’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $112.71, for a total value of $297,779.82. Following the transaction, the insider directly owned 183,200 shares in the company, valued at approximately $20,648,472. This represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 16.20% of the company’s stock.

Key Incyte News

Here are the key news stories impacting Incyte this week:

• Positive Sentiment: Incyte reported third-quarter revenue of $1.56 billion, up 14% year over year and above the $1.46 billion analyst estimate. Adjusted loss of $3.60 per share was narrower than expected, helping support the stock. INCY Q3 Loss Narrower Than Expected, Sales Beat, FY’26 View Raised
• Positive Sentiment: The company raised 2026 total net-sales guidance to $5.21 billion-$5.30 billion, from $5.13 billion-$5.26 billion previously. Opzelura guidance was also increased to $1.10 billion-$1.12 billion, reflecting continued demand. Incyte signals 2026 net sales outlook as Opzelura guidance rises
• Positive Sentiment: Product trends were favorable: Opzelura sales rose 36% to $255 million, while hematology and oncology portfolio sales increased 38% to $235 million. Jakafi and Jakafi XR sales grew 4% to $827 million. Incyte Reports $1.56 Billion Third-Quarter Revenue and Raises 2026 Sales Guidance
• Positive Sentiment: Barclays raised its price target from $139 to $143 and maintained an “overweight” rating, implying substantial upside and reinforcing the bullish reaction. Barclays Incyte analyst recommendation
• Neutral Sentiment: Wells Fargo lowered its target slightly to $127 and kept an “equal weight” rating, while RBC raised its target to $117 but retained a “sector perform” rating. The changes indicate limited conviction among some analysts. Wells Fargo Incyte analyst recommendation
• Negative Sentiment: Incyte posted a GAAP loss largely because of a $1.23 billion in-process research and development charge tied to the Vega Therapeutics acquisition. The unusual charge obscures underlying operating strength and may keep investors focused on acquisition execution. Incyte Posts Q3 Loss on Vega Acquisition Charge

About Incyte

Incyte Corporation is a biopharmaceutical company that discovers, develops and commercializes medicines for oncology and inflammatory or autoimmune diseases. The company focuses on therapies that target specific biological pathways, including Janus kinase (JAK), fibroblast growth factor receptor (FGFR) and other mechanisms involved in cancer and immune-related conditions.

Its key products include Jakafi (ruxolitinib), a JAK inhibitor used in the United States for certain blood cancers and graft-versus-host disease; Opzelura (ruxolitinib cream), a topical treatment for atopic dermatitis and nonsegmental vitiligo; and Pemazyre (pemigatinib), an FGFR inhibitor approved for selected patients with cholangiocarcinoma and certain myeloid or lymphoid neoplasms.