Traub Capital Management LLC Buys Shares of 3,298 Incyte Corporation $INCY

Traub Capital Management LLC purchased a new position in shares of Incyte Corporation (NASDAQ:INCY) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 3,298 shares of the biopharmaceutical company’s stock, valued at approximately $225,000.

Several other institutional investors have also made changes to their positions in INCY. Inspire Advisors LLC raised its position in Incyte by 12.2% during the second quarter. Inspire Advisors LLC now owns 13,055 shares of the biopharmaceutical company’s stock valued at $889,000 after acquiring an additional 1,420 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Incyte by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 20,135,393 shares of the biopharmaceutical company’s stock valued at $1,371,220,000 after purchasing an additional 137,570 shares in the last quarter. LSV Asset Management boosted its holdings in Incyte by 6.2% in the second quarter. LSV Asset Management now owns 3,861,831 shares of the biopharmaceutical company’s stock worth $262,991,000 after purchasing an additional 223,857 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in Incyte by 54.7% during the second quarter. Nomura Asset Management Co. Ltd. now owns 108,114 shares of the biopharmaceutical company’s stock worth $7,363,000 after buying an additional 38,249 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in Incyte by 0.9% during the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 170,982 shares of the biopharmaceutical company’s stock valued at $11,644,000 after buying an additional 1,581 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Incyte Trading Down 0.3%

Shares of INCY stock opened at $103.89 on Wednesday. The firm has a market capitalization of $20.40 billion, a P/E ratio of 17.40, a price-to-earnings-growth ratio of 0.70 and a beta of 0.74. Incyte Corporation has a 1 year low of $53.56 and a 1 year high of $109.28. The firm’s fifty day simple moving average is $91.06 and its 200 day simple moving average is $78.83. The company has a current ratio of 3.20, a quick ratio of 2.78 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, October 28th. The biopharmaceutical company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.61. Incyte had a net margin of 24.69% and a return on equity of 26.56%. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the business posted $1.07 EPS. The business’s quarterly revenue was up 20.0% on a year-over-year basis. As a group, sell-side analysts predict that Incyte Corporation will post 4.86 EPS for the current year.

Insider Activity

In other Incyte news, EVP Lee Heeson sold 3,074 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $94.02, for a total value of $289,017.48. Following the completion of the transaction, the executive vice president owned 29,241 shares of the company’s stock, valued at $2,749,238.82. This represents a 9.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Sheila A. Denton sold 598 shares of Incyte stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $101.36, for a total value of $60,613.28. Following the sale, the executive vice president directly owned 26,569 shares in the company, valued at $2,693,033.84. The trade was a 2.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 4,227 shares of company stock worth $396,327 over the last 90 days. Corporate insiders own 17.80% of the company’s stock.

Analysts Set New Price Targets

INCY has been the subject of several recent analyst reports. Truist Financial reiterated a “hold” rating and set a $93.00 price target (up previously from $79.00) on shares of Incyte in a research note on Wednesday, October 29th. Bank of America upped their target price on Incyte from $90.00 to $104.00 and gave the stock a “buy” rating in a research report on Thursday, September 4th. Oppenheimer lowered shares of Incyte from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 8th. Royal Bank Of Canada upped their price objective on shares of Incyte from $81.00 to $84.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 29th. Finally, UBS Group reissued a “neutral” rating and set a $68.00 target price (up previously from $62.00) on shares of Incyte in a research report on Wednesday, July 30th. Seven investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $92.77.

About Incyte

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.