Bank of Nova Scotia acquired a new stake in Incyte Corporation (NASDAQ:INCY - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 16,485 shares of the biopharmaceutical company's stock, valued at approximately $1,869,000.
Several other institutional investors also recently bought and sold shares of INCY. Elyxium Wealth LLC acquired a new stake in shares of Incyte in the 4th quarter worth $28,000. Smithfield Trust Co boosted its holdings in shares of Incyte by 135.0% in the fourth quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company's stock valued at $28,000 after acquiring an additional 162 shares in the last quarter. MUFG Securities EMEA plc acquired a new position in shares of Incyte during the second quarter worth about $32,000. CYBER HORNET ETFs LLC acquired a new position in shares of Incyte during the second quarter worth about $33,000. Finally, Leonteq Securities AG purchased a new position in Incyte during the fourth quarter worth about $35,000. 96.97% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Incyte
In related news, EVP Patrick A. Mayes sold 41,899 shares of the company's stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $119.46, for a total value of $5,005,254.54. Following the sale, the executive vice president owned 61,441 shares in the company, valued at $7,339,741.86. This represents a 40.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 the company'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 value of $1,356,173.56. Following the completion of the sale, the insider owned 183,200 shares in the company, valued at approximately $23,002,592. This represents a 5.57% 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.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on INCY. UBS Group raised their price objective on shares of Incyte from $103.00 to $113.00 and gave the company a "neutral" rating in a research report on Friday, June 26th. Weiss Ratings upgraded Incyte from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, July 29th. JPMorgan Chase & Co. increased their target price on Incyte from $105.00 to $110.00 and gave the stock a "neutral" rating in a research note on Thursday, July 23rd. Sanford C. Bernstein reissued a "market perform" rating and issued a $104.00 price target on shares of Incyte in a report on Thursday, August 13th. Finally, TD Cowen upgraded Incyte to a "strong-buy" rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, Incyte currently has a consensus rating of "Moderate Buy" and an average price target of $123.10.
Read Our Latest Research Report on INCY
Incyte Stock Down 1.2%
Shares of NASDAQ INCY opened at $128.12 on Thursday. The stock has a market capitalization of $25.97 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 4.11 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 has a 50-day moving average price of $117.87 and a 200 day moving average price of $104.74.
Incyte (NASDAQ:INCY - Get Free Report) last issued 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 company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the business posted $1.57 earnings per share. The firm's revenue for the quarter was up 37.7% compared to the same quarter last year. Equities research analysts expect that Incyte Corporation will post 2.61 EPS for the current fiscal year.
About Incyte
(
Free Report)
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.
Featured Articles
Want to see what other hedge funds are holding INCY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Incyte Corporation (NASDAQ:INCY - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Incyte, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Incyte wasn't on the list.
While Incyte currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy is entering a new growth cycle as rising power demand, expanding data centers, and renewed policy support bring the sector back into focus. After strong gains in recent years, the most impactful phase of nuclear investment may still be ahead. This report highlights seven nuclear energy stocks positioned across the value chain—combining near-term revenue with long-term upside as next-generation technologies scale. Click the link below to unlock the full list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
