Incyte Corporation $INCY Stock Position Increased by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co raised its position in shares of Incyte Corporation (NASDAQ:INCY) by 21.8% in the third quarter, HoldingsChannel reports. The firm owned 31,235 shares of the biopharmaceutical company’s stock after acquiring an additional 5,595 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Incyte were worth $2,649,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in INCY. Harbor Capital Advisors Inc. bought a new stake in shares of Incyte during the third quarter valued at approximately $26,000. Root Financial Partners LLC bought a new position in Incyte in the 3rd quarter worth approximately $28,000. Quent Capital LLC acquired a new stake in Incyte in the 3rd quarter valued at approximately $30,000. MUFG Securities EMEA plc bought a new stake in Incyte during the 2nd quarter valued at $32,000. Finally, CYBER HORNET ETFs LLC acquired a new position in Incyte during the 2nd quarter worth $33,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analysts Set New Price Targets

INCY has been the topic of a number of research analyst reports. The Goldman Sachs Group reissued a “neutral” rating and set a $90.00 price target on shares of Incyte in a report on Thursday, January 8th. HC Wainwright reiterated a “buy” rating and issued a $135.00 target price on shares of Incyte in a research report on Wednesday, February 11th. Royal Bank Of Canada dropped their price target on shares of Incyte from $95.00 to $92.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 11th. Piper Sandler upped their price target on shares of Incyte from $102.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. Finally, Wall Street Zen lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 14th. Ten analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Incyte has a consensus rating of “Hold” and an average price target of $104.00.

Insider Activity

In other news, EVP Mohamed Khairie Issa sold 10,856 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $109.07, for a total transaction of $1,184,063.92. Following the sale, the executive vice president owned 66,132 shares in the company, valued at $7,213,017.24. The trade was a 14.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael James Morrissey sold 4,323 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $97.26, for a total transaction of $420,454.98. Following the completion of the transaction, the executive vice president directly owned 27,507 shares of the company’s stock, valued at $2,675,330.82. This represents a 13.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 72,561 shares of company stock worth $7,195,307 over the last 90 days. 17.80% of the stock is owned by company insiders.

Incyte Stock Down 2.0%

Shares of Incyte stock opened at $98.07 on Wednesday. Incyte Corporation has a 12-month low of $53.56 and a 12-month high of $112.29. The firm has a market capitalization of $19.52 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 0.79 and a beta of 0.84. The company has a quick ratio of 3.25, a current ratio of 3.32 and a debt-to-equity ratio of 0.01. The stock’s fifty day moving average is $102.45 and its 200-day moving average is $96.06.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, February 10th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.16). The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Incyte had a return on equity of 26.34% and a net margin of 25.03%.The company’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.43 EPS. Equities analysts anticipate that Incyte Corporation will post 4.86 earnings per share for the current 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.