Fairvoy Private Wealth LLC Reduces Stock Position in Incyte Corporation $INCY

Fairvoy Private Wealth LLC lessened its holdings in Incyte Corporation (NASDAQ:INCY) by 22.8% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,290 shares of the biopharmaceutical company’s stock after selling 6,879 shares during the quarter. Fairvoy Private Wealth LLC’s holdings in Incyte were worth $2,192,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Elyxium Wealth LLC bought a new stake in Incyte during the 4th quarter valued at about $28,000. Smithfield Trust Co boosted its position in Incyte by 135.0% in the 4th quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 162 shares during the period. MUFG Securities EMEA plc bought a new position in Incyte in the 2nd quarter worth about $32,000. CYBER HORNET ETFs LLC bought a new position in Incyte in the 2nd quarter worth about $33,000. Finally, Leonteq Securities AG purchased a new position in shares of Incyte during the fourth quarter worth approximately $35,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Insider Buying and Selling

In other Incyte news, insider Pablo J. Cagnoni sold 18,667 shares of the stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $96.50, for a total transaction of $1,801,365.50. Following the completion of the sale, the insider directly owned 262,692 shares of the company’s stock, valued at approximately $25,349,778. This represents a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 16.20% of the company’s stock.

Incyte Stock Down 0.9%

Incyte stock opened at $107.53 on Friday. The company has a quick ratio of 3.60, a current ratio of 3.68 and a debt-to-equity ratio of 0.01. The firm has a market cap of $21.48 billion, a P/E ratio of 15.19, a P/E/G ratio of 1.06 and a beta of 0.79. The business has a fifty day moving average of $98.95 and a two-hundred day moving average of $99.07. Incyte Corporation has a twelve month low of $66.83 and a twelve month high of $112.29.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.38 by $0.43. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.22 billion. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.16 EPS. On average, analysts forecast that Incyte Corporation will post 6.61 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on INCY shares. HC Wainwright reiterated a “buy” rating and issued a $140.00 price target on shares of Incyte in a report on Wednesday. TD Cowen reaffirmed a “hold” rating on shares of Incyte in a research report on Tuesday, June 9th. BMO Capital Markets upgraded Incyte from an “underperform” rating to a “market perform” rating and upped their target price for the stock from $75.00 to $94.00 in a report on Monday. Stifel Nicolaus set a $123.00 target price on Incyte in a report on Tuesday, June 9th. Finally, Barclays reissued an “overweight” rating on shares of Incyte in a research report on Tuesday, March 24th. Eight equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat.com, Incyte has a consensus rating of “Hold” and an average target price of $106.90.

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.