New York State Common Retirement Fund Increases Stock Position in Incyte Corporation $INCY

New York State Common Retirement Fund raised its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 19.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 92,741 shares of the biopharmaceutical company’s stock after purchasing an additional 15,100 shares during the period. New York State Common Retirement Fund’s holdings in Incyte were worth $7,865,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Harbor Capital Advisors Inc. purchased a new stake in shares of Incyte during the third quarter valued at $26,000. FNY Investment Advisers LLC purchased a new stake in shares of Incyte during the 2nd quarter valued at about $27,000. Root Financial Partners LLC purchased a new stake in shares of Incyte during the 3rd quarter valued at about $28,000. Quent Capital LLC bought a new stake in shares of Incyte in the third quarter worth approximately $30,000. Finally, MUFG Securities EMEA plc purchased a new position in shares of Incyte during the second quarter valued at approximately $32,000. Institutional investors own 96.97% of the company’s stock.

Analyst Ratings Changes

INCY has been the topic of several research reports. Piper Sandler raised their target price on shares of Incyte from $82.00 to $102.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. TD Cowen restated a “buy” rating on shares of Incyte in a research note on Tuesday, January 13th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $107.00 price objective (down previously from $116.00) on shares of Incyte in a report on Tuesday, January 20th. Guggenheim raised Incyte from a “neutral” rating to a “buy” rating and set a $125.00 target price on the stock in a report on Monday, November 3rd. Finally, Stifel Nicolaus set a $119.00 price target on Incyte in a research note on Monday, January 5th. Eight analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $100.81.

Incyte Stock Performance

NASDAQ:INCY opened at $102.60 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.13 and a current ratio of 3.20. The stock has a 50-day simple moving average of $101.67 and a two-hundred day simple moving average of $92.61. The firm has a market capitalization of $20.14 billion, a PE ratio of 17.19, a P/E/G ratio of 0.61 and a beta of 0.82. Incyte Corporation has a 52-week low of $53.56 and a 52-week high of $112.29.

Incyte News Summary

Here are the key news stories impacting Incyte this week:

• Positive Sentiment: TD Cowen reiterated a Buy on INCY and highlighted management’s roadmap to roughly triple non‑Jakafi revenue by 2029, supporting upside to the stock as investors reward a clearer multi‑product growth trajectory. TD Cowen keeps buy rating on Incyte (INCY), cites roadmap to triple non-Jakafi revenue by 2029
• Positive Sentiment: EMA expanded approval for Zynyz in first‑line anal cancer, increasing the addressable market for Incyte’s partnered/approved assets and strengthening near‑term commercial upside outside Jakafi. How Investors Are Reacting To Incyte (INCY) EMA Boost For Zynyz In First-Line Anal Cancer
• Positive Sentiment: Prelude received FDA clearance for a study of an Incyte‑partnered cancer candidate, a collaborator milestone that can accelerate development timing and create an additional catalyst for the partnership. Prelude climbs as FDA clears study for Incyte-partnered cancer candidate
• Neutral Sentiment: Wall Street expects Incyte to report earnings growth next week; an earnings beat could provide a near‑term share boost while a miss would weigh on sentiment. Incyte (INCY) Reports Next Week: Wall Street Expects Earnings Growth
• Neutral Sentiment: Media pieces and screener headlines (Zacks) list Incyte among medical stocks to watch for potential earnings surprises; these are general interest items that may drive short‑term trading but not long‑term fundamentals. Why Investors Need to Take Advantage of These 2 Medical Stocks Now
• Neutral Sentiment: Analysts remain split on Incyte’s prospects (Jakafi dependence vs. diversification), a dynamic that can amplify volatility around news and earnings. Analysts Differ in Opinion on Jakafi Drug Maker Incyte (INCY)
• Negative Sentiment: Incyte halted a Phase 1b/2a basket trial of tafasitamab plus parsaclisib, a setback for that non‑Jakafi program that tempers the company’s pipeline outlook and could dampen medium‑term growth expectations. Tafasitamab-Parsaclisib Trial Termination Tempers Incyte Outlook
• Neutral Sentiment: Reminder: Incyte is slated to announce quarterly results soon (timing noted by coverage), which remains the proximate event likely to drive the stock. Incyte (INCY) Expected to Announce Earnings on Tuesday

Insider Buying and Selling

In related news, EVP Mohamed Khairie Issa sold 10,856 shares of the stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $109.07, for a total value of $1,184,063.92. Following the completion of the sale, the executive vice president directly owned 66,132 shares of the company’s stock, valued at approximately $7,213,017.24. This represents a 14.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Steven H. Stein sold 20,105 shares of Incyte stock in a transaction that occurred on Tuesday, December 2nd. The shares were 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 represents a 24.15% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 95,225 shares of company stock valued at $9,519,745. Insiders own 17.80% of the company’s stock.

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.