Incyte Corporation $INCY Shares Purchased by Fisher Asset Management LLC

Fisher Asset Management LLC lifted its position in Incyte Corporation (NASDAQ:INCY) by 74.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,922 shares of the biopharmaceutical company’s stock after purchasing an additional 12,785 shares during the quarter. Fisher Asset Management LLC’s holdings in Incyte were worth $2,038,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. FNY Investment Advisers LLC acquired a new position in Incyte in the 2nd quarter valued at about $27,000. Banque Transatlantique SA acquired a new stake in shares of Incyte during the 1st quarter worth approximately $26,000. Hilltop National Bank purchased a new stake in shares of Incyte during the 2nd quarter valued at approximately $37,000. SVB Wealth LLC purchased a new stake in shares of Incyte during the 1st quarter valued at approximately $39,000. Finally, MAI Capital Management lifted its holdings in Incyte by 19.9% in the second quarter. MAI Capital Management now owns 754 shares of the biopharmaceutical company’s stock valued at $51,000 after acquiring an additional 125 shares during the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Stock Performance

NASDAQ INCY opened at $102.52 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.20 and a quick ratio of 3.13. The company has a market cap of $20.13 billion, a P/E ratio of 17.17, a P/E/G ratio of 0.69 and a beta of 0.81. The stock has a 50-day moving average of $95.92 and a two-hundred day moving average of $82.37. Incyte Corporation has a 1-year low of $53.56 and a 1-year high of $109.28.

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

Analyst Ratings Changes

A number of research firms have commented on INCY. Wall Street Zen upgraded Incyte from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. Zacks Research lowered shares of Incyte from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Piper Sandler upped their target price on shares of Incyte from $82.00 to $102.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Oppenheimer cut shares of Incyte from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 8th. Finally, Truist Financial reissued a “hold” rating and issued a $93.00 price target (up from $79.00) on shares of Incyte in a research note on Wednesday, October 29th. Seven analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Incyte has an average rating of “Hold” and a consensus price target of $93.85.

Insiders Place Their Bets

In other Incyte news, EVP Steven H. Stein sold 20,105 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $102.51, for a total value of $2,060,963.55. Following the completion of the transaction, the executive vice president owned 63,129 shares of the company’s stock, valued at $6,471,353.79. This trade represents a 24.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Sheila A. Denton sold 598 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $101.36, for a total transaction of $60,613.28. Following the completion of the transaction, the executive vice president owned 26,569 shares of the company’s stock, valued at approximately $2,693,033.84. This trade represents a 2.20% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 26,891 shares of company stock worth $2,720,766 in the last ninety days. 17.80% of the stock is owned by corporate insiders.

About Incyte

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.