NorthRock Partners LLC Invests $495,000 in Incyte Corporation $INCY

NorthRock Partners LLC bought a new position in shares of Incyte Corporation (NASDAQ:INCY) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 7,273 shares of the biopharmaceutical company’s stock, valued at approximately $495,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Sequoia Financial Advisors LLC boosted its holdings in shares of Incyte by 46.7% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,923 shares of the biopharmaceutical company’s stock worth $471,000 after purchasing an additional 2,204 shares during the last quarter. Ellis Investment Partners LLC lifted its holdings in Incyte by 6.9% in the second quarter. Ellis Investment Partners LLC now owns 20,419 shares of the biopharmaceutical company’s stock valued at $1,391,000 after acquiring an additional 1,317 shares during the last quarter. CWM LLC lifted its holdings in Incyte by 22.1% in the second quarter. CWM LLC now owns 131,180 shares of the biopharmaceutical company’s stock valued at $8,933,000 after acquiring an additional 23,751 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in Incyte by 9.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 33,314 shares of the biopharmaceutical company’s stock valued at $2,269,000 after acquiring an additional 2,758 shares during the last quarter. Finally, waypoint wealth counsel acquired a new position in Incyte in the second quarter valued at approximately $371,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Incyte

In other news, EVP Steven H. Stein sold 3,706 shares of the company’s stock in a transaction on Monday, July 21st. The stock was sold at an average price of $67.94, for a total transaction of $251,785.64. Following the sale, the executive vice president owned 102,886 shares of the company’s stock, valued at approximately $6,990,074.84. This represents a 3.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 17.80% of the stock is currently owned by insiders.

Incyte Stock Up 2.5%

Shares of NASDAQ INCY opened at $88.15 on Thursday. The firm has a market cap of $17.21 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 0.67 and a beta of 0.73. 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 Corporation has a 52-week low of $53.56 and a 52-week high of $88.66. The business’s 50 day moving average is $84.83 and its two-hundred day moving average is $72.10.

Analysts Set New Price Targets

A number of research firms recently commented on INCY. Royal Bank Of Canada upped their price objective on Incyte from $72.00 to $81.00 and gave the company a “sector perform” rating in a report on Wednesday, September 24th. Wall Street Zen upgraded Incyte from a “buy” rating to a “strong-buy” rating in a report on Friday, October 3rd. Bank of America upped their price objective on Incyte from $90.00 to $104.00 and gave the company a “buy” rating in a report on Thursday, September 4th. Stifel Nicolaus upped their price objective on Incyte from $110.00 to $115.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Finally, Guggenheim reissued a “neutral” rating on shares of Incyte in a research report on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $84.79.

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.