Fideuram Intesa Sanpaolo Private Banking S.P.A. Purchases Shares of 52,607 Incyte Corporation $INCY

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Incyte Corporation (NASDAQ:INCY) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 52,607 shares of the biopharmaceutical company’s stock, valued at approximately $4,951,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. iA Global Asset Management Inc. boosted its holdings in Incyte by 20.5% during the 1st quarter. iA Global Asset Management Inc. now owns 19,346 shares of the biopharmaceutical company’s stock valued at $1,821,000 after acquiring an additional 3,290 shares during the period. Element Squared LLC purchased a new position in Incyte in the 1st quarter worth approximately $2,255,000. Impact Partnership Wealth LLC increased its stake in Incyte by 2.6% in the 1st quarter. Impact Partnership Wealth LLC now owns 12,971 shares of the biopharmaceutical company’s stock worth $1,221,000 after purchasing an additional 334 shares during the period. MQS Management LLC grew its holdings in shares of Incyte by 68.4% in the first quarter. MQS Management LLC now owns 4,857 shares of the biopharmaceutical company’s stock worth $457,000 after purchasing an additional 1,972 shares during the last quarter. Finally, Inspire Investing LLC increased its stake in shares of Incyte by 9.7% in the first quarter. Inspire Investing LLC now owns 23,890 shares of the biopharmaceutical company’s stock worth $2,249,000 after buying an additional 2,104 shares during the period. 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 business’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $96.50, for a total value of $1,801,365.50. Following the completion of the transaction, the insider owned 262,692 shares of the company’s stock, valued at approximately $25,349,778. The trade was a 6.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 16.20% of the company’s stock.

Incyte Stock Performance

NASDAQ:INCY opened at $116.86 on Friday. The company’s 50 day moving average price is $101.13 and its 200-day moving average price is $99.85. Incyte Corporation has a 52 week low of $66.85 and a 52 week high of $118.69. 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 stock has a market cap of $23.35 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 1.07 and a beta of 0.76.

Incyte (NASDAQ:INCY) last released its quarterly earnings data 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. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the prior year, the firm posted $1.16 EPS. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. On average, equities research analysts forecast that Incyte Corporation will post 6.61 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on INCY. UBS Group upped their price objective on shares of Incyte from $103.00 to $113.00 and gave the company a “neutral” rating in a research note on Friday, June 26th. Stifel Nicolaus set a $123.00 target price on Incyte in a research note on Tuesday, June 9th. Barclays restated an “overweight” rating on shares of Incyte in a research report on Tuesday, March 24th. Truist Financial increased their price target on shares of Incyte from $103.00 to $105.00 and gave the stock a “hold” rating in a research note on Monday, June 22nd. Finally, TD Cowen reissued a “hold” rating on shares of Incyte in a research report on Tuesday, June 9th. Eight analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat, Incyte currently has a consensus rating of “Hold” and an average price target of $107.85.

Incyte Company 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.