Sage Private Wealth Group LLC Buys 226 Shares of Incyte Corporation (NASDAQ:INCY)

Sage Private Wealth Group LLC boosted its stake in shares of Incyte Corporation (NASDAQ:INCY) by 2.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,898 shares of the biopharmaceutical company’s stock after purchasing an additional 226 shares during the quarter. Incyte comprises approximately 0.4% of Sage Private Wealth Group LLC’s investment portfolio, making the stock its 27th biggest position. Sage Private Wealth Group LLC’s holdings in Incyte were worth $539,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INCY. Massachusetts Financial Services Co. MA boosted its position in shares of Incyte by 41.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 198,100 shares of the biopharmaceutical company’s stock valued at $11,995,000 after acquiring an additional 58,388 shares during the period. Dakota Wealth Management acquired a new position in Incyte in the first quarter valued at about $3,116,000. MQS Management LLC acquired a new position in Incyte in the first quarter valued at about $237,000. CWM LLC raised its stake in Incyte by 87.1% in the first quarter. CWM LLC now owns 107,429 shares of the biopharmaceutical company’s stock valued at $6,505,000 after purchasing an additional 50,005 shares in the last quarter. Finally, State of Michigan Retirement System raised its stake in Incyte by 0.5% in the first quarter. State of Michigan Retirement System now owns 43,559 shares of the biopharmaceutical company’s stock valued at $2,637,000 after purchasing an additional 200 shares in the last quarter. 96.97% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Barry P. Flannelly sold 10,903 shares of the company’s stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $68.15, for a total value of $743,039.45. Following the completion of the transaction, the executive vice president owned 39,744 shares of the company’s stock, valued at $2,708,553.60. This represents a 21.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Sheila A. Denton sold 599 shares of the company’s stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $68.61, for a total value of $41,097.39. Following the completion of the transaction, the executive vice president directly owned 26,504 shares of the company’s stock, valued at $1,818,439.44. This represents a 2.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,119 shares of company stock valued at $1,371,385 over the last quarter. 17.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Truist Financial boosted their price target on Incyte from $72.00 to $73.00 and gave the company a “hold” rating in a research note on Tuesday, May 27th. JPMorgan Chase & Co. dropped their price target on Incyte from $68.00 to $67.00 and set a “neutral” rating for the company in a research note on Monday. Royal Bank Of Canada set a $67.00 price target on Incyte and gave the company a “sector perform” rating in a research note on Monday, June 23rd. William Blair downgraded Incyte from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 18th. Finally, Guggenheim downgraded Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price target for the company. in a research note on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $74.47.

Incyte Stock Performance

Incyte stock opened at $69.98 on Tuesday. The business has a 50 day moving average of $66.39 and a 200-day moving average of $66.62. Incyte Corporation has a 1 year low of $53.56 and a 1 year high of $83.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.04 and a quick ratio of 2.00. The company has a market capitalization of $13.55 billion, a P/E ratio of 218.69, a P/E/G ratio of 0.58 and a beta of 0.68.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.15. Incyte had a return on equity of 2.77% and a net margin of 0.48%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $996.17 million. During the same quarter in the prior year, the firm posted $0.64 earnings per share. The firm’s revenue was up 19.5% compared to the same quarter last year. On average, equities research analysts predict that Incyte Corporation will post 4.86 earnings per share for the current year.

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.