4,134 Shares in Incyte Corporation $INCY Bought by Olympiad Research LP

Olympiad Research LP acquired a new position in shares of Incyte Corporation (NASDAQ:INCY) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 4,134 shares of the biopharmaceutical company’s stock, valued at approximately $282,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Czech National Bank boosted its stake in shares of Incyte by 6.4% during the 2nd quarter. Czech National Bank now owns 39,271 shares of the biopharmaceutical company’s stock worth $2,674,000 after buying an additional 2,378 shares during the last quarter. denkapparat Operations GmbH lifted its holdings in shares of Incyte by 46.1% during the 2nd quarter. denkapparat Operations GmbH now owns 11,292 shares of the biopharmaceutical company’s stock worth $769,000 after acquiring an additional 3,564 shares during the period. Hussman Strategic Advisors Inc. boosted its position in shares of Incyte by 20.0% during the 2nd quarter. Hussman Strategic Advisors Inc. now owns 63,000 shares of the biopharmaceutical company’s stock worth $4,290,000 after acquiring an additional 10,500 shares in the last quarter. Poinciana Advisors Group LLC bought a new position in Incyte in the second quarter valued at approximately $229,000. Finally, OMNI 360 Wealth Inc. acquired a new position in Incyte during the second quarter valued at approximately $310,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Stock Performance

Shares of Incyte stock opened at $105.41 on Friday. The business has a 50-day moving average price of $89.99 and a two-hundred day moving average price of $77.70. Incyte Corporation has a 1-year low of $53.56 and a 1-year high of $109.28. The company has a current ratio of 3.20, a quick ratio of 2.78 and a debt-to-equity ratio of 0.01. The company has a market cap of $20.69 billion, a P/E ratio of 17.66, a PEG ratio of 0.70 and a beta of 0.74.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, October 28th. The biopharmaceutical company reported $2.26 EPS for the quarter, beating the consensus estimate of $1.65 by $0.61. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.26 billion. Incyte had a return on equity of 26.56% and a net margin of 24.69%.The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.07 EPS. As a group, analysts anticipate that Incyte Corporation will post 4.86 EPS for the current year.

Insider Buying and Selling at Incyte

In other news, EVP Lee Heeson sold 3,074 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $94.02, for a total value of $289,017.48. Following the completion of the sale, the executive vice president directly owned 29,241 shares in the company, valued at $2,749,238.82. This trade represents a 9.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Sheila A. Denton sold 598 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $101.36, for a total value of $60,613.28. Following the completion of the sale, the executive vice president directly owned 26,569 shares of the company’s stock, valued at $2,693,033.84. The trade was a 2.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 4,227 shares of company stock valued at $396,327. Insiders own 17.80% of the company’s stock.

Wall Street Analysts Forecast Growth

INCY has been the subject of several recent analyst reports. Stifel Nicolaus raised their price objective on Incyte from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Royal Bank Of Canada lifted their price target on shares of Incyte from $81.00 to $84.00 and gave the company a “sector perform” rating in a report on Wednesday, October 29th. BMO Capital Markets reissued an “underperform” rating and issued a $60.00 price objective (up previously from $52.00) on shares of Incyte in a research note on Wednesday, July 30th. Barclays boosted their target price on shares of Incyte from $90.00 to $101.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Finally, Zacks Research cut Incyte from a “strong-buy” rating to a “hold” rating in a research note on Monday. Seven investment 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 MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $92.77.

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.