State of Wyoming Sells 11,939 Shares of Incyte Corporation $INCY

State of Wyoming cut its stake in Incyte Corporation (NASDAQ:INCY) by 33.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,586 shares of the biopharmaceutical company’s stock after selling 11,939 shares during the quarter. Incyte comprises approximately 0.2% of State of Wyoming’s holdings, making the stock its 20th largest holding. State of Wyoming’s holdings in Incyte were worth $2,862,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. bought a new position in Incyte during the second quarter valued at $2,044,189,000. Legal & General Group Plc bought a new stake in shares of Incyte in the 2nd quarter worth about $182,054,000. Caisse de depot et placement du Quebec purchased a new position in shares of Incyte during the 2nd quarter worth about $155,360,000. Deutsche Bank AG purchased a new position in shares of Incyte during the 2nd quarter worth about $143,172,000. Finally, Bank of New York Mellon Corp bought a new position in Incyte during the 2nd quarter valued at about $110,279,000. 96.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Incyte

In other news, insider Pablo Cagnoni sold 2,642 shares of the stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $112.71, for a total transaction of $297,779.82. Following the transaction, the insider owned 183,200 shares of the company’s stock, valued at approximately $20,648,472. This represents a 1.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 16.20% of the company’s stock.

Trending Headlines about Incyte

Here are the key news stories impacting Incyte this week:

• Positive Sentiment: Incyte reported third-quarter revenue of $1.56 billion, up 14% year over year and above the $1.46 billion analyst estimate. Adjusted loss of $3.60 per share was narrower than expected, helping support the stock. INCY Q3 Loss Narrower Than Expected, Sales Beat, FY’26 View Raised
• Positive Sentiment: The company raised 2026 total net-sales guidance to $5.21 billion-$5.30 billion, from $5.13 billion-$5.26 billion previously. Opzelura guidance was also increased to $1.10 billion-$1.12 billion, reflecting continued demand. Incyte signals 2026 net sales outlook as Opzelura guidance rises
• Positive Sentiment: Product trends were favorable: Opzelura sales rose 36% to $255 million, while hematology and oncology portfolio sales increased 38% to $235 million. Jakafi and Jakafi XR sales grew 4% to $827 million. Incyte Reports $1.56 Billion Third-Quarter Revenue and Raises 2026 Sales Guidance
• Positive Sentiment: Barclays raised its price target from $139 to $143 and maintained an “overweight” rating, implying substantial upside and reinforcing the bullish reaction. Barclays Incyte analyst recommendation
• Neutral Sentiment: Wells Fargo lowered its target slightly to $127 and kept an “equal weight” rating, while RBC raised its target to $117 but retained a “sector perform” rating. The changes indicate limited conviction among some analysts. Wells Fargo Incyte analyst recommendation
• Negative Sentiment: Incyte posted a GAAP loss largely because of a $1.23 billion in-process research and development charge tied to the Vega Therapeutics acquisition. The unusual charge obscures underlying operating strength and may keep investors focused on acquisition execution. Incyte Posts Q3 Loss on Vega Acquisition Charge

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on INCY. Sanford C. Bernstein reissued a “market perform” rating and issued a $104.00 price objective on shares of Incyte in a research report on Thursday, August 13th. JPMorgan Chase & Co. boosted their target price on Incyte from $120.00 to $123.00 and gave the company a “neutral” rating in a research report on Monday, September 28th. Royal Bank Of Canada boosted their target price on Incyte from $114.00 to $117.00 and gave the company a “sector perform” rating in a research report on Friday. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research note on Friday, September 11th. Finally, HC Wainwright reissued a “buy” rating on shares of Incyte in a research note on Tuesday. Twelve investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $132.90.

Incyte Stock Performance

Shares of NASDAQ:INCY opened at $120.39 on Friday. The firm’s 50 day simple moving average is $120.49 and its 200-day simple moving average is $108.14. Incyte Corporation has a one year low of $89.25 and a one year high of $132.60. The firm has a market cap of $24.40 billion, a PE ratio of 64.04, a price-to-earnings-growth ratio of 4.83 and a beta of 0.74.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Thursday, October 29th. The biopharmaceutical company reported ($3.60) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.93) by $0.33. The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.46 billion. Incyte had a return on equity of 7.92% and a net margin of 6.71%. Incyte’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.26 earnings per share. Equities research analysts predict that Incyte Corporation will post 1.97 EPS for the current fiscal year.

About Incyte

Incyte Corporation is a biopharmaceutical company that discovers, develops and commercializes medicines for oncology and inflammatory or autoimmune diseases. The company focuses on therapies that target specific biological pathways, including Janus kinase (JAK), fibroblast growth factor receptor (FGFR) and other mechanisms involved in cancer and immune-related conditions.

Its key products include Jakafi (ruxolitinib), a JAK inhibitor used in the United States for certain blood cancers and graft-versus-host disease; Opzelura (ruxolitinib cream), a topical treatment for atopic dermatitis and nonsegmental vitiligo; and Pemazyre (pemigatinib), an FGFR inhibitor approved for selected patients with cholangiocarcinoma and certain myeloid or lymphoid neoplasms.