Incyte Corporation $INCY Shares Sold by Empowered Funds LLC

Empowered Funds LLC lessened its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 6.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 129,592 shares of the biopharmaceutical company’s stock after selling 9,190 shares during the period. Empowered Funds LLC owned approximately 0.07% of Incyte worth $8,825,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Assenagon Asset Management S.A. boosted its position in shares of Incyte by 1.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 8,993 shares of the biopharmaceutical company’s stock worth $612,000 after purchasing an additional 147 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Incyte by 10.1% in the second quarter. Farther Finance Advisors LLC now owns 1,706 shares of the biopharmaceutical company’s stock valued at $116,000 after purchasing an additional 156 shares during the period. Advisory Alpha LLC lifted its stake in shares of Incyte by 2.1% in the first quarter. Advisory Alpha LLC now owns 8,056 shares of the biopharmaceutical company’s stock valued at $488,000 after purchasing an additional 166 shares during the period. Wealthfront Advisers LLC boosted its holdings in Incyte by 2.4% during the second quarter. Wealthfront Advisers LLC now owns 7,366 shares of the biopharmaceutical company’s stock worth $502,000 after buying an additional 171 shares in the last quarter. Finally, Huntington National Bank grew its position in Incyte by 24.3% during the second quarter. Huntington National Bank now owns 1,002 shares of the biopharmaceutical company’s stock worth $68,000 after buying an additional 196 shares during the period. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Insider Activity

In other news, EVP Sheila A. Denton sold 598 shares of Incyte stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $101.36, for a total transaction of $60,613.28. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Lee Heeson sold 3,074 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $94.02, for a total transaction of $289,017.48. Following the completion of the transaction, the executive vice president directly owned 29,241 shares of the company’s stock, valued at approximately $2,749,238.82. This represents a 9.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 4,227 shares of company stock valued at $396,327 in the last three months. 17.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

INCY has been the subject of a number of research reports. Zacks Research downgraded shares of Incyte from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Incyte in a research note on Wednesday, October 8th. BMO Capital Markets reaffirmed an “underperform” rating and set a $60.00 price objective (up from $52.00) on shares of Incyte in a report on Wednesday, July 30th. Stifel Nicolaus upped their target price on Incyte from $110.00 to $115.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Finally, JPMorgan Chase & Co. raised their price target on Incyte from $73.00 to $89.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. Seven research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $92.77.

Incyte Price Performance

INCY stock opened at $101.32 on Thursday. The stock’s 50 day moving average price is $91.36 and its 200 day moving average price is $78.98. The firm has a market cap of $19.89 billion, a P/E ratio of 16.97, a PEG ratio of 0.70 and a beta of 0.74. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.78 and a current ratio of 3.20. Incyte Corporation has a 1 year low of $53.56 and a 1 year high of $109.28.

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

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.