Fideuram Asset Management Ireland dac Buys New Stake in Incyte Corporation $INCY

Fideuram Asset Management Ireland dac purchased a new position in Incyte Corporation (NASDAQ:INCY) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 28,491 shares of the biopharmaceutical company’s stock, valued at approximately $3,070,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of INCY. Elyxium Wealth LLC acquired a new stake in Incyte in the 4th quarter worth $28,000. Smithfield Trust Co grew its position in Incyte by 135.0% in the 4th quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 162 shares during the last quarter. MUFG Securities EMEA plc acquired a new stake in Incyte in the 2nd quarter worth $32,000. CYBER HORNET ETFs LLC acquired a new stake in Incyte in the 2nd quarter worth $33,000. Finally, Leonteq Securities AG acquired a new stake in Incyte in the 4th quarter worth $35,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Incyte

In other news, insider Pablo J. Cagnoni sold 18,667 shares of the stock in a transaction on Friday, April 17th. The stock was sold at an average price of $96.50, for a total transaction of $1,801,365.50. Following the sale, the insider owned 262,692 shares in the company, valued at approximately $25,349,778. This represents a 6.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 16.20% of the company’s stock.

Analysts Set New Price Targets

INCY has been the topic of several research analyst reports. Jefferies Financial Group lowered shares of Incyte from a “buy” rating to a “hold” rating and decreased their price target for the stock from $120.00 to $94.00 in a research report on Monday, March 16th. UBS Group cut their target price on Incyte from $104.00 to $94.00 and set a “neutral” rating for the company in a research note on Wednesday, March 25th. Oppenheimer upped their target price on Incyte from $84.00 to $90.00 and gave the company a “market perform” rating in a research note on Wednesday, April 29th. Royal Bank Of Canada cut their target price on Incyte from $95.00 to $92.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 11th. Finally, Piper Sandler raised their price objective on shares of Incyte from $102.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. Ten analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Incyte currently has a consensus rating of “Hold” and an average price target of $104.00.

Incyte Trading Up 0.2%

Shares of INCY stock opened at $97.50 on Friday. Incyte Corporation has a 12-month low of $63.92 and a 12-month high of $112.29. The company has a market capitalization of $19.48 billion, a P/E ratio of 13.77, a P/E/G ratio of 0.93 and a beta of 0.79. The firm has a 50-day moving average price of $95.75 and a 200 day moving average price of $99.41. The company has a quick ratio of 3.60, a current ratio of 3.68 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.43. The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.22 billion. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period last year, the firm posted $1.16 EPS. Research analysts forecast that Incyte Corporation will post 6.74 earnings per share for the current fiscal year.

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.