Expressive Wealth LLC Makes New Investment in Incyte Corporation $INCY

Expressive Wealth LLC purchased a new stake in Incyte Corporation (NASDAQ:INCY) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 5,809 shares of the biopharmaceutical company’s stock, valued at approximately $659,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in Incyte by 11.5% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 210,097 shares of the biopharmaceutical company’s stock valued at $20,719,000 after buying an additional 21,735 shares in the last quarter. Twin Capital Management Inc. purchased a new position in shares of Incyte in the first quarter worth approximately $875,000. GC Wealth Management RIA LLC purchased a new position in shares of Incyte in the fourth quarter worth approximately $1,629,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Incyte by 5,218.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 596,840 shares of the biopharmaceutical company’s stock valued at $58,950,000 after acquiring an additional 585,618 shares during the period. Finally, Sector Gamma AS raised its holdings in shares of Incyte by 6.7% during the fourth quarter. Sector Gamma AS now owns 218,783 shares of the biopharmaceutical company’s stock valued at $21,609,000 after acquiring an additional 13,669 shares during the period. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insider Buying and Selling at Incyte

In other Incyte news, insider Pablo J. Cagnoni sold 10,801 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $125.56, for a total transaction of $1,356,173.56. Following the transaction, the insider directly owned 183,200 shares in the company, valued at $23,002,592. This trade represents a 5.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Patrick A. Mayes sold 41,899 shares of the firm’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $119.46, for a total value of $5,005,254.54. Following the transaction, the executive vice president owned 61,441 shares in the company, valued at approximately $7,339,741.86. This trade represents a 40.54% decrease in their ownership of the stock. 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. Corporate insiders own 16.20% of the company’s stock.

Incyte Stock Up 0.5%

NASDAQ INCY opened at $127.81 on Friday. The stock has a market capitalization of $25.91 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 4.03 and a beta of 0.76. Incyte Corporation has a 12-month low of $81.09 and a 12-month high of $132.60. The company has a 50 day moving average price of $116.17 and a two-hundred day moving average price of $104.17.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, July 28th. The biopharmaceutical company reported $3.09 EPS for the quarter, topping the consensus estimate of $2.15 by $0.94. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.50 billion. Incyte had a net margin of 27.71% and a return on equity of 29.93%. Incyte’s quarterly revenue was up 37.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.57 EPS. As a group, equities analysts anticipate that Incyte Corporation will post 2.61 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on INCY shares. Barclays raised their price objective on shares of Incyte from $134.00 to $139.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. TD Cowen reissued a “hold” rating on shares of Incyte in a research note on Tuesday, June 9th. JPMorgan Chase & Co. increased their target price on Incyte from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd. Stifel Nicolaus set a $145.00 target price on Incyte in a research report on Tuesday, July 28th. Finally, Wall Street Zen downgraded Incyte from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Twelve investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $123.10.

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.