Cerity Partners LLC Has $17.22 Million Stock Holdings in Incyte Corporation $INCY

Cerity Partners LLC boosted its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 23.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 203,000 shares of the biopharmaceutical company’s stock after buying an additional 38,736 shares during the period. Cerity Partners LLC’s holdings in Incyte were worth $17,216,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of INCY. Harbor Capital Advisors Inc. purchased a new stake in shares of Incyte in the third quarter worth approximately $26,000. FNY Investment Advisers LLC acquired a new stake in shares of Incyte during the 2nd quarter valued at $27,000. MUFG Securities EMEA plc purchased a new position in shares of Incyte during the 2nd quarter valued at $32,000. CYBER HORNET ETFs LLC purchased a new position in shares of Incyte during the 2nd quarter valued at $33,000. Finally, Hilltop National Bank acquired a new position in shares of Incyte in the second quarter worth $37,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Incyte

In other news, EVP Michael James Morrissey sold 4,323 shares of the stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $97.26, for a total value of $420,454.98. Following the completion of the sale, the executive vice president directly owned 27,507 shares of the company’s stock, valued at approximately $2,675,330.82. This represents a 13.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Steven H. Stein sold 20,105 shares of the business’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $102.51, for a total transaction of $2,060,963.55. Following the transaction, the executive vice president directly owned 63,129 shares in the company, valued at $6,471,353.79. This trade represents a 24.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 99,174 shares of company stock worth $9,892,957. Insiders own 17.80% of the company’s stock.

Incyte Price Performance

NASDAQ INCY opened at $106.87 on Friday. Incyte Corporation has a 1 year low of $53.56 and a 1 year high of $112.29. The company has a fifty day simple moving average of $102.10 and a 200 day simple moving average of $88.10. The company has a current ratio of 3.20, a quick ratio of 3.13 and a debt-to-equity ratio of 0.01. The company has a market cap of $20.98 billion, a P/E ratio of 17.90, a P/E/G ratio of 0.64 and a beta of 0.82.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, October 28th. The biopharmaceutical company reported $2.26 earnings per share for the quarter, topping 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 firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the business earned $1.07 EPS. The business’s revenue was up 20.0% on a year-over-year basis. On average, sell-side analysts predict that Incyte Corporation will post 4.86 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on INCY. Truist Financial set a $103.00 target price on Incyte in a research note on Wednesday, December 24th. Stifel Nicolaus set a $119.00 price target on Incyte in a research note on Monday. Oppenheimer downgraded Incyte from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 8th. 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 note on Monday, November 3rd. Finally, Barclays increased their price target on shares of Incyte from $101.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, November 24th. Eight investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $99.53.

Incyte Profile

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.