Incyte Corporation $INCY Shares Newly Acquired by Curated Wealth Partners LLC

Curated Wealth Partners LLC purchased a new position in shares of Incyte Corporation (NASDAQ:INCY) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,444 shares of the biopharmaceutical company’s stock, valued at approximately $782,000.

Several other large investors have also recently bought and sold shares of INCY. SBE LLC DBA Cedar Cove Wealth Partners acquired a new position in Incyte during the third quarter worth $349,000. Mather Group LLC. boosted its stake in Incyte by 13.5% in the 3rd quarter. Mather Group LLC. now owns 1,157 shares of the biopharmaceutical company’s stock valued at $140,000 after purchasing an additional 138 shares during the period. Sanders Morris Harris LLC bought a new stake in Incyte in the 3rd quarter valued at about $607,000. Signal Advisors Wealth LLC acquired a new stake in Incyte during the third quarter worth approximately $848,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in Incyte during the 3rd quarter worth $384,000. 96.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. BMO Capital Markets reissued a “market perform” rating on shares of Incyte in a report on Tuesday, September 1st. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research report on Friday, September 11th. Barclays boosted their price target on Incyte from $134.00 to $139.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Royal Bank Of Canada raised their price target on shares of Incyte from $109.00 to $114.00 and gave the company a “sector perform” rating in a research note on Thursday, October 8th. Finally, TD Cowen upgraded Incyte to a “strong-buy” rating in a research report on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, Incyte presently has an average rating of “Moderate Buy” and an average price target of $128.20.

Insider Buying and Selling at Incyte

In other Incyte news, insider Pablo Cagnoni sold 10,801 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $125.56, for a total transaction of $1,356,173.56. Following the completion of the transaction, the insider 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Patrick Mayes sold 41,899 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $119.46, for a total transaction of $5,005,254.54. Following the completion of the transaction, the executive vice president directly owned 61,441 shares of the company’s stock, 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. 16.20% of the stock is currently owned by corporate insiders.

Incyte Stock Up 1.5%

INCY stock opened at $113.27 on Friday. The stock’s 50 day moving average is $122.11 and its 200-day moving average is $110.75. Incyte Corporation has a twelve month low of $84.02 and a twelve month high of $132.60. The firm has a market capitalization of $22.96 billion, a PE ratio of 14.05, a P/E/G ratio of 3.78 and a beta of 0.74.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, July 28th. The biopharmaceutical company reported $3.09 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.94. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Incyte had a net margin of 27.71% and a return on equity of 29.93%. The firm’s revenue for the quarter was up 37.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.57 earnings per share. On average, equities research analysts anticipate that Incyte Corporation will post 2.40 earnings per share for the current fiscal year.

Incyte Company Profile

Incyte Corporation is a biopharmaceutical company focused on discovering, developing and commercializing medicines for serious diseases, with an emphasis on oncology, hematology and inflammatory or dermatologic conditions. The company conducts research through internal programs and collaborations with academic institutions, biotechnology companies and pharmaceutical partners.

Incyte’s marketed portfolio includes Jakafi (ruxolitinib), a JAK inhibitor used in the United States for certain myelofibrosis, polycythemia vera and graft-versus-host disease indications, and Opzelura (ruxolitinib) cream for certain inflammatory skin conditions.