Earned Wealth Advisors LLC Trims Stock Position in Incyte Corporation $INCY

Earned Wealth Advisors LLC lessened its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 18.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,117 shares of the biopharmaceutical company’s stock after selling 962 shares during the period. Earned Wealth Advisors LLC’s holdings in Incyte were worth $280,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Czech National Bank boosted its holdings in shares of Incyte by 6.4% during the 2nd quarter. Czech National Bank now owns 39,271 shares of the biopharmaceutical company’s stock valued at $2,674,000 after buying an additional 2,378 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Incyte by 0.7% during the 1st quarter. Principal Financial Group Inc. now owns 213,947 shares of the biopharmaceutical company’s stock valued at $12,954,000 after buying an additional 1,419 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of Incyte by 1.9% during the 1st quarter. Amalgamated Bank now owns 31,551 shares of the biopharmaceutical company’s stock valued at $1,910,000 after buying an additional 591 shares in the last quarter. Poinciana Advisors Group LLC bought a new stake in shares of Incyte during the 2nd quarter valued at $229,000. Finally, OMNI 360 Wealth Inc. bought a new position in Incyte in the 2nd quarter worth about $310,000. Institutional investors own 96.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on INCY shares. Royal Bank Of Canada upped their price target on shares of Incyte from $81.00 to $84.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Truist Financial reiterated a “hold” rating and issued a $93.00 price target (up previously from $79.00) on shares of Incyte in a research note on Wednesday. Bank of America upped their price target on shares of Incyte from $90.00 to $104.00 and gave the stock a “buy” rating in a research note on Thursday, September 4th. UBS Group reiterated a “neutral” rating and issued a $68.00 price target (up previously from $62.00) on shares of Incyte in a research note on Wednesday, July 30th. Finally, Zacks Research upgraded shares of Incyte from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Incyte currently has a consensus rating of “Hold” and an average target price of $89.25.

Incyte Price Performance

NASDAQ INCY opened at $93.48 on Friday. Incyte Corporation has a 52 week low of $53.56 and a 52 week high of $95.10. The firm has a market capitalization of $18.25 billion, a P/E ratio of 15.66, a PEG ratio of 0.70 and a beta of 0.73. The company has a quick ratio of 2.78, a current ratio of 3.20 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $86.30 and a 200-day moving average price of $74.74.

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.