7,575 Shares in Incyte Corporation $INCY Bought by Great Lakes Advisors LLC

Great Lakes Advisors LLC acquired a new position in Incyte Corporation (NASDAQ:INCY) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 7,575 shares of the biopharmaceutical company’s stock, valued at approximately $859,000.

Other institutional investors have also recently bought and sold shares of the company. Elyxium Wealth LLC bought a new stake in shares of Incyte during the 4th quarter worth $28,000. Smithfield Trust Co grew its position in Incyte by 135.0% during the fourth quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 162 shares during the period. University of Texas Texas AM Investment Management Co. bought a new position in Incyte during the fourth quarter valued at about $35,000. Atlas Capital Advisors Inc. purchased a new stake in Incyte during the fourth quarter worth about $35,000. Finally, Leonteq Securities AG purchased a new stake in Incyte during the fourth quarter worth about $35,000. Institutional investors own 96.97% of the company’s stock.

Analyst Ratings Changes

INCY has been the topic of a number of research analyst reports. Morgan Stanley set a $119.00 target price on shares of Incyte in a research note on Wednesday, July 29th. Barclays raised their price target on shares of Incyte from $134.00 to $139.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Canaccord Genuity Group started coverage on shares of Incyte in a report on Thursday. They issued a “buy” rating and a $152.00 price target on the stock. Wall Street Zen downgraded Incyte from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, TD Cowen reissued a “hold” rating on shares of Incyte in a report on Tuesday, June 9th. Twelve equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Incyte currently has an average rating of “Hold” and a consensus price target of $123.10.

Insider Activity at Incyte

In related news, EVP Patrick A. Mayes sold 41,899 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $119.46, for a total value 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Pablo J. Cagnoni sold 10,801 shares of Incyte stock in a transaction that occurred on 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 of the company’s stock, valued at $23,002,592. This represents a 5.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.20% of the stock is currently owned by company insiders.

Incyte Stock Up 0.5%

NASDAQ INCY opened at $127.81 on Friday. The company has a market cap of $25.91 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 4.05 and a beta of 0.76. Incyte Corporation has a 52 week low of $81.09 and a 52 week high of $132.60. The firm’s 50-day simple moving average is $116.17 and its two-hundred day simple moving average is $104.17.

Incyte (NASDAQ:INCY) last posted its 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. Incyte had a net margin of 27.71% and a return on equity of 29.93%. The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the company earned $1.57 earnings per share. The company’s revenue was up 37.7% on a year-over-year basis. As a group, equities research analysts anticipate that Incyte Corporation will post 2.61 EPS for the current year.

Incyte Company Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.