Impact Partnership Wealth LLC Purchases New Holdings in Incyte Corporation $INCY

Impact Partnership Wealth LLC acquired a new position in shares of Incyte Corporation (NASDAQ:INCY) during the 3rd quarter, Holdings Channel reports. The firm acquired 8,763 shares of the biopharmaceutical company’s stock, valued at approximately $743,000.

Several other institutional investors and hedge funds also recently made changes to their positions in INCY. denkapparat Operations GmbH raised its stake in Incyte by 46.1% during the second quarter. denkapparat Operations GmbH now owns 11,292 shares of the biopharmaceutical company’s stock valued at $769,000 after buying an additional 3,564 shares in the last quarter. Rakuten Investment Management Inc. acquired a new stake in shares of Incyte during the 3rd quarter valued at approximately $14,646,000. LBP AM SA raised its position in shares of Incyte by 33.6% during the 3rd quarter. LBP AM SA now owns 238,705 shares of the biopharmaceutical company’s stock valued at $20,245,000 after acquiring an additional 59,974 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Incyte by 38.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 387,605 shares of the biopharmaceutical company’s stock worth $32,873,000 after purchasing an additional 108,645 shares during the last quarter. Finally, Callan Family Office LLC acquired a new position in Incyte in the second quarter worth $636,000. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Incyte Price Performance

Shares of INCY opened at $101.08 on Friday. Incyte Corporation has a one year low of $53.56 and a one year high of $112.29. The stock’s fifty day moving average is $101.93 and its 200-day moving average is $91.54. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.13 and a current ratio of 3.20. The firm has a market capitalization of $19.84 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 0.60 and a beta of 0.82.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, October 28th. The biopharmaceutical company reported $2.26 EPS for the quarter, beating the consensus estimate of $1.65 by $0.61. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Incyte had a net margin of 24.69% and a return on equity of 26.56%. Incyte’s quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter last year, the company earned $1.07 EPS. Equities analysts anticipate that Incyte Corporation will post 4.86 EPS for the current year.

Insider Activity

In other Incyte news, EVP Mohamed Khairie Issa sold 10,856 shares of the stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $109.07, for a total transaction of $1,184,063.92. Following the completion of the transaction, the executive vice president directly owned 66,132 shares of the company’s stock, valued at approximately $7,213,017.24. This trade represents a 14.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Steven H. Stein sold 20,105 shares of the business’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $102.51, for a total value of $2,060,963.55. Following the completion of the sale, the executive vice president directly owned 63,129 shares in the company, valued at $6,471,353.79. This represents a 24.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 98,897 shares of company stock valued at $9,869,376 over the last 90 days. Corporate insiders own 17.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Incyte from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 1st. Zacks Research cut shares of Incyte from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Barclays upped their target price on Incyte from $101.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, November 24th. The Goldman Sachs Group reiterated a “neutral” rating and set a $90.00 price target on shares of Incyte in a research report on Thursday, January 8th. Finally, Truist Financial set a $103.00 price objective on Incyte in a research report on Wednesday, December 24th. Eight research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $100.75.

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.