Continuum Advisory LLC Grows Stake in Incyte Corporation $INCY

Continuum Advisory LLC lifted its stake in Incyte Corporation (NASDAQ:INCY) by 7.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,825 shares of the biopharmaceutical company’s stock after purchasing an additional 5,185 shares during the quarter. Continuum Advisory LLC’s holdings in Incyte were worth $6,261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Bank of Nova Scotia increased its stake in Incyte by 0.7% during the 2nd quarter. Bank of Nova Scotia now owns 17,041 shares of the biopharmaceutical company’s stock valued at $1,160,000 after purchasing an additional 124 shares in the last quarter. MAI Capital Management grew its holdings in shares of Incyte by 19.9% during the second quarter. MAI Capital Management now owns 754 shares of the biopharmaceutical company’s stock valued at $51,000 after buying an additional 125 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Incyte by 1.7% during the second quarter. Assenagon Asset Management S.A. now owns 8,993 shares of the biopharmaceutical company’s stock valued at $612,000 after acquiring an additional 147 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Incyte by 10.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,706 shares of the biopharmaceutical company’s stock worth $116,000 after acquiring an additional 156 shares during the last quarter. Finally, E Fund Management Co. Ltd. lifted its position in Incyte by 0.8% in the 2nd quarter. E Fund Management Co. Ltd. now owns 19,912 shares of the biopharmaceutical company’s stock valued at $1,356,000 after acquiring an additional 158 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Sheila A. Denton sold 598 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $101.36, for a total value of $60,613.28. Following the transaction, the executive vice president directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Steven H. Stein sold 20,105 shares of Incyte stock in a transaction 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 transaction, the executive vice president owned 63,129 shares in the company, valued at $6,471,353.79. This trade represents a 24.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 88,318 shares of company stock valued at $8,708,893. 17.80% of the stock is currently owned by corporate insiders.

Incyte Trading Down 0.8%

Shares of NASDAQ:INCY opened at $99.29 on Tuesday. The stock’s 50-day simple moving average is $99.85 and its two-hundred day simple moving average is $86.17. The stock has a market capitalization of $19.49 billion, a price-to-earnings ratio of 16.63, a PEG ratio of 0.68 and a beta of 0.81. Incyte Corporation has a 52-week low of $53.56 and a 52-week high of $109.28. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.13 and a current ratio of 3.20.

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, topping the consensus estimate of $1.65 by $0.61. The firm 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 business earned $1.07 EPS. Analysts expect that Incyte Corporation will post 4.86 EPS for the current year.

Wall Street Analyst Weigh In

INCY has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their target price on Incyte from $97.00 to $116.00 and gave the stock an “overweight” rating in a report on Monday, December 8th. Zacks Research downgraded Incyte from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Barclays boosted their target price on Incyte from $101.00 to $115.00 and gave the stock an “overweight” rating in a research report on Monday, November 24th. Guggenheim raised shares of Incyte from a “neutral” rating to a “buy” rating and set a $125.00 price target on the stock in a report on Monday, November 3rd. Finally, Royal Bank Of Canada boosted their price objective on shares of Incyte from $81.00 to $84.00 and gave the company a “sector perform” rating in a report on Wednesday, October 29th. Eight investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $99.79.

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.