Fairvoy Private Wealth LLC Purchases 24,865 Shares of Incyte Corporation $INCY

Fairvoy Private Wealth LLC boosted its holdings in Incyte Corporation (NASDAQ:INCY) by 468.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 30,169 shares of the biopharmaceutical company’s stock after buying an additional 24,865 shares during the period. Fairvoy Private Wealth LLC’s holdings in Incyte were worth $2,980,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new position in shares of Incyte in the third quarter worth about $26,000. Root Financial Partners LLC purchased a new stake in shares of Incyte during the third quarter worth about $28,000. Quent Capital LLC bought a new stake in Incyte during the 3rd quarter valued at approximately $30,000. MUFG Securities EMEA plc bought a new stake in Incyte during the 2nd quarter valued at approximately $32,000. Finally, CYBER HORNET ETFs LLC purchased a new position in Incyte in the 2nd quarter worth approximately $33,000. 96.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

INCY has been the subject of several recent analyst reports. Weiss Ratings downgraded Incyte from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, March 17th. Barclays reiterated an “overweight” rating on shares of Incyte in a research report on Tuesday. Piper Sandler upped their target price on shares of Incyte from $102.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. UBS Group cut their target price on shares of Incyte from $104.00 to $94.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $90.00 price target on shares of Incyte in a report on Thursday, January 8th. Nine research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Incyte currently has an average rating of “Hold” and an average price target of $104.89.

Insiders Place Their Bets

In other Incyte news, insider Pablo J. Cagnoni sold 18,667 shares of Incyte stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $94.24, for a total value of $1,759,178.08. Following the completion of the transaction, the insider directly owned 234,800 shares of the company’s stock, valued at $22,127,552. This trade represents a 7.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Mohamed Khairie Issa sold 10,856 shares of the business’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $109.07, for a total transaction of $1,184,063.92. Following the completion of the sale, the executive vice president owned 66,132 shares in the company, valued at approximately $7,213,017.24. This trade represents a 14.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 17.80% of the stock is owned by corporate insiders.

Incyte Stock Performance

NASDAQ:INCY opened at $90.30 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.32 and a quick ratio of 3.25. Incyte Corporation has a 1 year low of $53.56 and a 1 year high of $112.29. The stock’s 50 day simple moving average is $98.98 and its two-hundred day simple moving average is $96.93. The company has a market cap of $17.97 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 0.73 and a beta of 0.84.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, February 10th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.96 by ($0.16). Incyte had a return on equity of 26.34% and a net margin of 25.03%.The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same period last year, the company earned $1.43 earnings per share. The firm’s revenue was up 27.8% on a year-over-year basis. As a group, equities analysts anticipate that Incyte Corporation will post 4.86 earnings per share for the current fiscal year.

About Incyte

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.