Vise Technologies Inc. Buys New Shares in Incyte Corporation $INCY

Vise Technologies Inc. purchased a new stake in shares of Incyte Corporation (NASDAQ:INCY) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,156 shares of the biopharmaceutical company’s stock, valued at approximately $811,000.

Several other large investors have also recently added to or reduced their stakes in INCY. Elyxium Wealth LLC acquired a new stake in shares of Incyte during the 4th quarter worth approximately $28,000. Smithfield Trust Co increased its position in shares of Incyte by 135.0% during the fourth quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 162 shares during the period. Atlas Capital Advisors Inc. acquired a new position in shares of Incyte in the fourth quarter valued at $35,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Incyte in the fourth quarter valued at $35,000. Finally, Leonteq Securities AG acquired a new position in shares of Incyte in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Wall Street Analysts Forecast Growth

INCY has been the topic of a number of recent research reports. Leerink Partners lifted their price target on shares of Incyte from $131.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. JPMorgan Chase & Co. increased their price objective on shares of Incyte from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, July 23rd. TD Cowen restated a “hold” rating on shares of Incyte in a research note on Tuesday, June 9th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $104.00 price objective on shares of Incyte in a report on Thursday, August 13th. Finally, Weiss Ratings upgraded shares of Incyte from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 29th. Twelve analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $123.10.

Insiders Place Their Bets

In other news, insider Pablo J. Cagnoni sold 10,801 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $125.56, for a total value of $1,356,173.56. Following the completion of the sale, the insider directly owned 183,200 shares in the company, valued at approximately $23,002,592. This trade represents a 5.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Patrick A. Mayes sold 41,899 shares of Incyte stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $119.46, for a total value of $5,005,254.54. Following the completion of the transaction, the executive vice president directly owned 61,441 shares of the company’s stock, valued at $7,339,741.86. This represents a 40.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 16.20% of the company’s stock.

Incyte Price Performance

Shares of INCY opened at $127.81 on Monday. The company has a market capitalization of $25.91 billion, a P/E ratio of 16.28, a PEG ratio of 4.05 and a beta of 0.76. Incyte Corporation has a one year low of $81.09 and a one year high of $132.60. The business’s 50 day simple moving average is $116.17 and its 200-day simple moving average is $104.18.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, July 28th. The biopharmaceutical company reported $3.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.94. The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.50 billion. Incyte had a return on equity of 29.93% and a net margin of 27.71%.The business’s revenue for the quarter was up 37.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.57 EPS. On average, sell-side analysts anticipate that Incyte Corporation will post 2.61 EPS for the current fiscal year.

Incyte 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.