Deutsche Bank AG Raises Stock Holdings in Incyte Corporation (NASDAQ:INCY)

Deutsche Bank AG boosted its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 9.4% during the first quarter, HoldingsChannel.com reports. The firm owned 1,286,529 shares of the biopharmaceutical company’s stock after purchasing an additional 110,392 shares during the period. Deutsche Bank AG’s holdings in Incyte were worth $77,899,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its position in shares of Incyte by 2.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,682,029 shares of the biopharmaceutical company’s stock valued at $101,847,000 after acquiring an additional 38,962 shares in the last quarter. ASR Vermogensbeheer N.V. purchased a new position in shares of Incyte in the first quarter valued at approximately $349,000. Vanguard Group Inc. lifted its position in shares of Incyte by 2.1% in the first quarter. Vanguard Group Inc. now owns 19,997,823 shares of the biopharmaceutical company’s stock valued at $1,210,868,000 after acquiring an additional 417,346 shares in the last quarter. Earned Wealth Advisors LLC lifted its position in shares of Incyte by 40.3% in the first quarter. Earned Wealth Advisors LLC now owns 5,079 shares of the biopharmaceutical company’s stock valued at $308,000 after acquiring an additional 1,458 shares in the last quarter. Finally, Jupiter Asset Management Ltd. lifted its position in shares of Incyte by 469.9% in the first quarter. Jupiter Asset Management Ltd. now owns 829,764 shares of the biopharmaceutical company’s stock valued at $50,242,000 after acquiring an additional 684,171 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Royal Bank Of Canada raised their target price on Incyte from $68.00 to $72.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 30th. Wells Fargo & Company raised Incyte from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $67.00 to $89.00 in a report on Wednesday, August 6th. Barclays assumed coverage on Incyte in a report on Friday, August 1st. They issued an “overweight” rating and a $90.00 price target for the company. Citigroup increased their price target on Incyte from $88.00 to $103.00 and gave the company a “buy” rating in a report on Wednesday, July 30th. Finally, Truist Financial increased their price target on Incyte from $73.00 to $79.00 and gave the company a “hold” rating in a report on Wednesday, July 30th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $81.20.

Insider Transactions at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 10,903 shares of the firm’s stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $68.15, for a total value of $743,039.45. Following the transaction, the executive vice president directly owned 39,744 shares of the company’s stock, valued at $2,708,553.60. This trade represents a 21.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Sheila A. Denton sold 599 shares of the firm’s stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $68.61, for a total value of $41,097.39. Following the sale, the executive vice president owned 26,504 shares of the company’s stock, valued at $1,818,439.44. This represents a 2.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,098 shares of company stock valued at $3,836,196. Corporate insiders own 17.80% of the company’s stock.

Incyte Trading Up 0.2%

Shares of Incyte stock opened at $78.39 on Monday. Incyte Corporation has a fifty-two week low of $53.56 and a fifty-two week high of $83.95. The firm has a market cap of $15.31 billion, a PE ratio of 17.82, a P/E/G ratio of 0.62 and a beta of 0.71. The business’s fifty day moving average is $70.23 and its two-hundred day moving average is $66.82. The company has a quick ratio of 2.78, a current ratio of 2.85 and a debt-to-equity ratio of 0.01.

Incyte Company Profile

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.