Incyte Corporation $INCY Stock Position Lifted by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lifted its position in shares of Incyte Corporation (NASDAQ:INCY) by 77.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,944 shares of the biopharmaceutical company’s stock after acquiring an additional 20,465 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Incyte were worth $5,697,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Incyte in the 2nd quarter valued at $2,044,189,000. Wellington Management Group LLP grew its position in shares of Incyte by 9.5% during the 2nd quarter. Wellington Management Group LLP now owns 3,575,521 shares of the biopharmaceutical company’s stock worth $405,321,000 after buying an additional 309,385 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Incyte by 10.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,975,544 shares of the biopharmaceutical company’s stock valued at $185,873,000 after acquiring an additional 187,354 shares during the last quarter. Legal & General Group Plc bought a new stake in shares of Incyte in the 2nd quarter valued at about $182,054,000. Finally, Pacer Advisors Inc. raised its position in shares of Incyte by 2.2% in the 1st quarter. Pacer Advisors Inc. now owns 1,741,061 shares of the biopharmaceutical company’s stock valued at $163,869,000 after acquiring an additional 37,790 shares during the period. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Incyte news, insider Pablo J. Cagnoni sold 10,801 shares of Incyte stock in a transaction dated 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 transaction, the insider owned 183,200 shares in the company, valued at $23,002,592. The trade was a 5.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $119.46, for a total transaction 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 approximately $7,339,741.86. The trade was a 40.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 55,342 shares of company stock worth $6,659,208. Company insiders own 16.20% of the company’s stock.

Incyte Price Performance

Shares of NASDAQ INCY opened at $115.71 on Friday. The business has a 50-day moving average of $121.40 and a 200-day moving average of $111.50. The stock has a market capitalization of $23.45 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 4.32 and a beta of 0.74. Incyte Corporation has a fifty-two week low of $84.02 and a fifty-two week high of $132.60.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, July 28th. The biopharmaceutical company reported $3.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.94. The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.50 billion. Incyte had a net margin of 27.71% and a return on equity of 29.93%. The firm’s revenue for the quarter was up 37.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.57 earnings per share. On average, sell-side analysts expect that Incyte Corporation will post 2.20 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Leerink Partners boosted their price target on shares of Incyte from $131.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Sanford C. Bernstein restated a “market perform” rating and issued a $104.00 price objective on shares of Incyte in a research report on Thursday, August 13th. HC Wainwright reaffirmed a “buy” rating and set a $152.00 price objective on shares of Incyte in a research note on Tuesday, October 13th. Mizuho lifted their target price on Incyte from $121.00 to $137.00 and gave the stock an “outperform” rating in a report on Tuesday, August 4th. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research note on Friday, September 11th. Twelve investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $129.90.

About Incyte

Incyte Corporation is a biopharmaceutical company that discovers, develops and commercializes medicines for oncology and inflammatory or autoimmune diseases. The company focuses on therapies that target specific biological pathways, including Janus kinase (JAK), fibroblast growth factor receptor (FGFR) and other mechanisms involved in cancer and immune-related conditions.

Its key products include Jakafi (ruxolitinib), a JAK inhibitor used in the United States for certain blood cancers and graft-versus-host disease; Opzelura (ruxolitinib cream), a topical treatment for atopic dermatitis and nonsegmental vitiligo; and Pemazyre (pemigatinib), an FGFR inhibitor approved for selected patients with cholangiocarcinoma and certain myeloid or lymphoid neoplasms.