Mackenzie Financial Corp Acquires 22,156 Shares of Incyte Corporation $INCY

Mackenzie Financial Corp raised its holdings in Incyte Corporation (NASDAQ:INCY) by 6.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 362,229 shares of the biopharmaceutical company’s stock after buying an additional 22,156 shares during the quarter. Mackenzie Financial Corp’s holdings in Incyte were worth $24,668,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Czech National Bank boosted its stake in Incyte by 6.4% during the second quarter. Czech National Bank now owns 39,271 shares of the biopharmaceutical company’s stock worth $2,674,000 after acquiring an additional 2,378 shares in the last quarter. denkapparat Operations GmbH increased its stake in Incyte by 46.1% in the second quarter. denkapparat Operations GmbH now owns 11,292 shares of the biopharmaceutical company’s stock valued at $769,000 after purchasing an additional 3,564 shares in the last quarter. Hussman Strategic Advisors Inc. raised its holdings in shares of Incyte by 20.0% during the second quarter. Hussman Strategic Advisors Inc. now owns 63,000 shares of the biopharmaceutical company’s stock valued at $4,290,000 after purchasing an additional 10,500 shares during the period. Strid Group LLC bought a new position in shares of Incyte during the 2nd quarter worth about $999,000. Finally, Poinciana Advisors Group LLC acquired a new stake in shares of Incyte in the 2nd quarter valued at about $229,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Trading Down 2.3%

Shares of INCY stock opened at $102.04 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.78 and a current ratio of 3.20. The company has a market capitalization of $20.03 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 0.70 and a beta of 0.74. Incyte Corporation has a 52-week low of $53.56 and a 52-week high of $109.28. The company has a 50-day simple moving average of $94.46 and a two-hundred day simple moving average of $81.57.

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

Analyst Upgrades and Downgrades

INCY has been the subject of a number of research analyst reports. Stifel Nicolaus boosted their target price on Incyte from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Zacks Research downgraded Incyte from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Bank of America upped their target price on Incyte from $90.00 to $104.00 and gave the stock a “buy” rating in a research report on Thursday, September 4th. Oppenheimer downgraded shares of Incyte from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 8th. Finally, Piper Sandler boosted their price target on shares of Incyte from $82.00 to $102.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Seven investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $93.85.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Sheila A. Denton sold 598 shares of the company’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $101.36, for a total value of $60,613.28. Following the completion of the transaction, the executive vice president owned 26,569 shares in the company, valued at $2,693,033.84. This represents a 2.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lee Heeson sold 3,074 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $94.02, for a total value of $289,017.48. Following the sale, the executive vice president directly owned 29,241 shares of the company’s stock, valued at approximately $2,749,238.82. This represents a 9.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 4,227 shares of company stock worth $396,327. Insiders own 17.80% of the company’s stock.

About Incyte

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.