Incyte Corporation $INCY Stock Holdings Lifted by Focus Partners Advisor Solutions LLC

Focus Partners Advisor Solutions LLC raised its position in Incyte Corporation (NASDAQ:INCY) by 35.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,497 shares of the biopharmaceutical company’s stock after purchasing an additional 7,696 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in Incyte were worth $2,009,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Sector Gamma AS lifted its position in shares of Incyte by 28.3% in the second quarter. Sector Gamma AS now owns 204,000 shares of the biopharmaceutical company’s stock worth $13,892,000 after buying an additional 45,000 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Incyte in the second quarter worth about $27,000. Jackson Thornton Wealth Management LLC acquired a new stake in shares of Incyte in the second quarter worth about $245,000. VCI Wealth Management LLC lifted its position in shares of Incyte by 11.9% in the second quarter. VCI Wealth Management LLC now owns 13,093 shares of the biopharmaceutical company’s stock worth $892,000 after buying an additional 1,395 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of Incyte by 5.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 160,078 shares of the biopharmaceutical company’s stock worth $10,914,000 after buying an additional 7,626 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Guggenheim reaffirmed a “neutral” rating on shares of Incyte in a research report on Friday, September 19th. Wells Fargo & Company raised Incyte from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $67.00 to $89.00 in a research report on Wednesday, August 6th. UBS Group reissued a “neutral” rating and set a $68.00 price objective (up previously from $62.00) on shares of Incyte in a research report on Wednesday, July 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of Incyte in a research report on Saturday. Finally, Truist Financial boosted their price objective on Incyte from $73.00 to $79.00 and gave the stock a “hold” rating in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Incyte currently has a consensus rating of “Hold” and a consensus target price of $84.79.

Incyte Stock Up 2.2%

Shares of Incyte stock opened at $91.28 on Monday. The firm’s 50 day moving average price is $85.64 and its 200-day moving average price is $73.64. The company has a quick ratio of 2.78, a current ratio of 2.85 and a debt-to-equity ratio of 0.01. Incyte Corporation has a 52-week low of $53.56 and a 52-week high of $92.86. The company has a market cap of $17.83 billion, a P/E ratio of 20.75, a PEG ratio of 0.71 and a beta of 0.73.

Incyte Company Profile

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.