5,768 Shares in Incyte Corporation $INCY Purchased by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP bought a new position in Incyte Corporation (NASDAQ:INCY) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,768 shares of the biopharmaceutical company’s stock, valued at approximately $711,000.

Several other institutional investors also recently bought and sold shares of INCY. Trails Edge Capital Partners LP acquired a new stake in shares of Incyte during the second quarter worth $17,570,800. Twin Capital Management Inc. purchased a new stake in Incyte during the first quarter valued at about $875,000. Tidal Investments LLC grew its holdings in shares of Incyte by 33.4% during the 2nd quarter. Tidal Investments LLC now owns 102,834 shares of the biopharmaceutical company’s stock worth $11,657,000 after purchasing an additional 25,768 shares during the period. BlackRock Inc. purchased a new position in shares of Incyte in the 2nd quarter valued at $2,044,189,000. Finally, Mediolanum International Funds Ltd increased its holdings in Incyte by 25.4% in the 1st quarter. Mediolanum International Funds Ltd now owns 60,300 shares of the biopharmaceutical company’s stock valued at $5,447,000 after purchasing an additional 12,227 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on INCY. Oppenheimer set a $152.00 target price on Incyte in a report on Tuesday, October 27th. Piper Sandler lifted their price objective on shares of Incyte from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Monday, August 17th. UBS Group set a $152.00 price objective on shares of Incyte in a research note on Friday, October 30th. Stifel Nicolaus boosted their target price on shares of Incyte from $145.00 to $157.00 and gave the stock a “buy” rating in a research report on Monday, October 5th. Finally, HC Wainwright restated a “buy” rating on shares of Incyte in a research note on Tuesday, October 27th. Eleven equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Incyte has a consensus rating of “Hold” and a consensus target price of $132.86.

Incyte Stock Performance

Shares of NASDAQ INCY opened at $121.70 on Friday. Incyte Corporation has a 1 year low of $89.25 and a 1 year high of $132.60. The firm has a market cap of $24.81 billion, a price-to-earnings ratio of 57.67, a PEG ratio of 4.45 and a beta of 0.78. The stock’s 50-day simple moving average is $119.32 and its 200-day simple moving average is $108.87.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Thursday, October 29th. The biopharmaceutical company reported ($3.60) EPS for the quarter, topping the consensus estimate of ($3.93) by $0.33. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Incyte had a return on equity of 7.92% and a net margin of 6.71%. The company’s revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.26 earnings per share. As a group, research analysts predict that Incyte Corporation will post 2.24 EPS for the current year.

Insider Buying and Selling at Incyte

In other Incyte news, CMO Steven Stein sold 240,193 shares of Incyte stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $118.39, for a total transaction of $28,436,449.27. Following the sale, the chief marketing officer directly owned 30,916 shares in the company, valued at $3,660,145.24. The trade was a 88.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Pablo Cagnoni sold 2,642 shares of the company’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $112.71, for a total value of $297,779.82. Following the completion of the transaction, the insider directly owned 183,200 shares in the company, valued at approximately $20,648,472. The trade was a 1.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 254,246 shares of company stock worth $30,162,968 in the last 90 days. 16.20% of the stock is owned by corporate insiders.

About Incyte

Incyte is a biopharmaceutical company that discovers, develops and commercializes medicines, with a focus on oncology, hematology and inflammatory and autoimmune diseases. Founded in 1991, the company is headquartered in Wilmington, Delaware, and conducts research and commercial activities in the United States and internationally. Its products include Jakafi (ruxolitinib), used to treat certain blood disorders and graft-versus-host disease, and Opzelura (ruxolitinib cream), approved in the United States for certain skin conditions.