10,585 Shares in Incyte Corporation $INCY Purchased by State of Wyoming

Key Points

• The State of Wyoming has acquired 10,585 shares of Incyte Corporation, valued at approximately $641,000, indicating increased institutional interest in the biopharmaceutical company.
• Recent research reports from analysts have found mixed ratings for Incyte, with Barclays initiating coverage with an "overweight" rating and a target price of $90.00.
• Incyte's stock performance shows a market capitalization of $16.52 billion and a current stock price of $84.61, with institutional investors owning nearly 97% of the company's stock.

State of Wyoming acquired a new position in shares of Incyte Corporation (NASDAQ:INCY - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,585 shares of the biopharmaceutical company's stock, valued at approximately $641,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Incyte by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 19,997,823 shares of the biopharmaceutical company's stock worth $1,210,868,000 after acquiring an additional 417,346 shares during the last quarter. LSV Asset Management boosted its stake in shares of Incyte by 4.9% in the 1st quarter. LSV Asset Management now owns 3,637,974 shares of the biopharmaceutical company's stock valued at $220,279,000 after purchasing an additional 170,484 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Incyte by 4.0% in the 1st quarter. Invesco Ltd. now owns 3,168,750 shares of the biopharmaceutical company's stock valued at $191,868,000 after purchasing an additional 120,543 shares during the last quarter. Bellevue Group AG boosted its stake in shares of Incyte by 0.3% in the 4th quarter. Bellevue Group AG now owns 2,157,478 shares of the biopharmaceutical company's stock valued at $149,017,000 after purchasing an additional 6,927 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Incyte by 0.6% in the 1st quarter. Northern Trust Corp now owns 1,706,402 shares of the biopharmaceutical company's stock valued at $103,323,000 after purchasing an additional 10,279 shares during the last quarter. Institutional investors own 96.97% of the company's stock.

Incyte Stock Performance

Shares of INCY stock opened at $84.61 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.78 and a current ratio of 2.85. The company has a market capitalization of $16.52 billion, a P/E ratio of 19.23, a price-to-earnings-growth ratio of 0.66 and a beta of 0.71. The company's 50 day moving average price is $75.10 and its two-hundred day moving average price is $68.13. Incyte Corporation has a 52 week low of $53.56 and a 52 week high of $87.24.

Wall Street Analysts Forecast Growth

INCY has been the topic of several recent research reports. Barclays initiated coverage on shares of Incyte in a research note on Friday, August 1st. They issued an "overweight" rating and a $90.00 target price on the stock. UBS Group reaffirmed a "neutral" rating and issued a $68.00 target price (up previously from $62.00) on shares of Incyte in a research note on Wednesday, July 30th. Wells Fargo & Company raised shares of Incyte from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $67.00 to $89.00 in a research note on Wednesday, August 6th. JPMorgan Chase & Co. raised their target price on shares of Incyte from $67.00 to $73.00 and gave the company a "neutral" rating in a research note on Friday, August 22nd. Finally, BMO Capital Markets reaffirmed an "underperform" rating and issued a $60.00 target price (up previously from $52.00) on shares of Incyte in a research note on Wednesday, July 30th. Seven analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Incyte currently has a consensus rating of "Hold" and a consensus target price of $81.60.

Insider Activity at Incyte

In other Incyte news, EVP Sheila A. Denton sold 599 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $68.61, for a total transaction of $41,097.39. Following the sale, the executive vice president directly owned 26,504 shares in the company, valued at approximately $1,818,439.44. This trade represents a 2.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Barry P. Flannelly sold 1,192 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $69.86, for a total transaction of $83,273.12. Following the sale, the executive vice president owned 37,630 shares in the company, valued at $2,628,831.80. This trade represents a 3.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,098 shares of company stock valued at $3,836,196. Corporate insiders own 17.80% of the company's stock.

About Incyte

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.

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