Incyte Corporation $INCY Shares Sold by Summit Global Investments

Summit Global Investments reduced its position in shares of Incyte Corporation (NASDAQ:INCY) by 62.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 21,003 shares of the biopharmaceutical company’s stock after selling 34,367 shares during the quarter. Summit Global Investments’ holdings in Incyte were worth $2,549,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of INCY. Fiduciary Financial Advisors acquired a new position in Incyte in the 2nd quarter valued at about $26,000. Continuum Advisory LLC acquired a new stake in shares of Incyte during the 2nd quarter worth approximately $36,000. Latitude Advisors LLC acquired a new stake in shares of Incyte during the 3rd quarter worth approximately $39,000. Quantbot Technologies LP purchased a new stake in shares of Incyte during the 2nd quarter valued at approximately $52,000. Finally, Parkside Financial Bank & Trust raised its position in shares of Incyte by 49.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 727 shares of the biopharmaceutical company’s stock valued at $82,000 after buying an additional 239 shares during the period. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Incyte

Here are the key news stories impacting Incyte this week:

• Positive Sentiment: Incyte reported third-quarter revenue of $1.56 billion, up 14% year over year and above the $1.46 billion analyst estimate. Adjusted loss of $3.60 per share was narrower than expected, helping support the stock. INCY Q3 Loss Narrower Than Expected, Sales Beat, FY’26 View Raised
• Positive Sentiment: The company raised 2026 total net-sales guidance to $5.21 billion-$5.30 billion, from $5.13 billion-$5.26 billion previously. Opzelura guidance was also increased to $1.10 billion-$1.12 billion, reflecting continued demand. Incyte signals 2026 net sales outlook as Opzelura guidance rises
• Positive Sentiment: Product trends were favorable: Opzelura sales rose 36% to $255 million, while hematology and oncology portfolio sales increased 38% to $235 million. Jakafi and Jakafi XR sales grew 4% to $827 million. Incyte Reports $1.56 Billion Third-Quarter Revenue and Raises 2026 Sales Guidance
• Positive Sentiment: Barclays raised its price target from $139 to $143 and maintained an “overweight” rating, implying substantial upside and reinforcing the bullish reaction. Barclays Incyte analyst recommendation
• Neutral Sentiment: Wells Fargo lowered its target slightly to $127 and kept an “equal weight” rating, while RBC raised its target to $117 but retained a “sector perform” rating. The changes indicate limited conviction among some analysts. Wells Fargo Incyte analyst recommendation
• Negative Sentiment: Incyte posted a GAAP loss largely because of a $1.23 billion in-process research and development charge tied to the Vega Therapeutics acquisition. The unusual charge obscures underlying operating strength and may keep investors focused on acquisition execution. Incyte Posts Q3 Loss on Vega Acquisition Charge

Insider Buying and Selling at Incyte

In other news, insider Pablo Cagnoni sold 2,642 shares of Incyte stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $112.71, for a total value of $297,779.82. Following the completion of the sale, the insider directly owned 183,200 shares of the company’s stock, valued at approximately $20,648,472. The trade was a 1.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 16.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Morgan Stanley assumed coverage on Incyte in a research report on Tuesday, October 20th. They issued an “equal weight” rating and a $119.00 price objective for the company. Wall Street Zen cut Incyte from a “buy” rating to a “hold” rating in a report on Saturday, October 10th. Benchmark reissued a “buy” rating on shares of Incyte in a research report on Tuesday, October 13th. BMO Capital Markets restated a “market perform” rating on shares of Incyte in a report on Tuesday. Finally, Canaccord Genuity Group started coverage on shares of Incyte in a report on Thursday, August 20th. They issued a “buy” rating and a $152.00 price objective on the stock. Twelve analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $132.90.

Incyte Stock Performance

Incyte stock opened at $120.39 on Friday. Incyte Corporation has a fifty-two week low of $89.25 and a fifty-two week high of $132.60. The firm has a 50 day moving average price of $120.49 and a 200 day moving average price of $108.14. The company has a market capitalization of $24.40 billion, a PE ratio of 64.04, a price-to-earnings-growth ratio of 4.98 and a beta of 0.74.

Incyte (NASDAQ:INCY) last announced its earnings results on Thursday, October 29th. The biopharmaceutical company reported ($3.60) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.93) by $0.33. Incyte had a return on equity of 7.92% and a net margin of 6.71%. The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the company earned $2.26 earnings per share. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. As a group, equities research analysts forecast that Incyte Corporation will post 1.97 earnings per share for the current year.

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.