16,774 Shares in Incyte Corporation $INCY Acquired by Evolve Private Wealth LLC

Evolve Private Wealth LLC bought a new position in shares of Incyte Corporation (NASDAQ:INCY) during the second quarter, HoldingsChannel.com reports. The firm bought 16,774 shares of the biopharmaceutical company’s stock, valued at approximately $1,902,000.

Several other large investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Incyte during the 2nd quarter valued at $2,044,189,000. Deutsche Bank AG bought a new stake in Incyte during the second quarter valued at about $143,172,000. Norges Bank purchased a new position in shares of Incyte in the fourth quarter valued at about $122,893,000. Caisse de depot et placement du Quebec lifted its position in shares of Incyte by 264.5% in the third quarter. Caisse de depot et placement du Quebec now owns 1,498,013 shares of the biopharmaceutical company’s stock valued at $127,046,000 after acquiring an additional 1,087,091 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of Incyte by 6,586.4% in the fourth quarter. Marshall Wace LLP now owns 1,072,491 shares of the biopharmaceutical company’s stock worth $105,930,000 after acquiring an additional 1,056,451 shares during the period. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on INCY. HC Wainwright reissued a “buy” rating and issued a $150.00 price target on shares of Incyte in a report on Thursday. TD Cowen restated a “hold” rating on shares of Incyte in a research report on Tuesday, June 9th. Morgan Stanley set a $119.00 target price on shares of Incyte in a research note on Wednesday, July 29th. UBS Group raised their price objective on Incyte from $103.00 to $113.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. Finally, JPMorgan Chase & Co. raised their price target on Incyte from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd. Twelve research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $123.10.

Insider Activity at Incyte

In related news, insider Pablo J. Cagnoni sold 10,801 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $125.56, for a total transaction of $1,356,173.56. Following the completion of the sale, the insider directly owned 183,200 shares of the company’s stock, valued at approximately $23,002,592. This trade represents a 5.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Patrick A. Mayes sold 41,899 shares of the company’s stock in a transaction 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 in the company, valued at $7,339,741.86. This trade represents a 40.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.20% of the stock is owned by insiders.

Incyte Stock Performance

NASDAQ:INCY opened at $127.81 on Friday. The firm has a market capitalization of $25.91 billion, a PE ratio of 16.28, a PEG ratio of 4.05 and a beta of 0.76. The stock’s fifty day moving average is $116.17 and its 200 day moving average is $104.17. Incyte Corporation has a fifty-two week low of $81.09 and a fifty-two week high of $132.60.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, July 28th. The biopharmaceutical company reported $3.09 EPS 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 company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the firm earned $1.57 earnings per share. Incyte’s quarterly revenue was up 37.7% compared to the same quarter last year. Equities analysts forecast 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.