Callan Family Office LLC Makes New Investment in Incyte Corporation $INCY

Key Points

• Callan Family Office LLC acquired a new position in Incyte Corporation, purchasing 9,333 shares valued at approximately $636,000 during the second quarter.
• Wall Street analysts have mixed ratings for Incyte, with five analysts giving it a Buy rating and a consensus price target of $84.79.
• Incyte's stocks recently traded at $84.73 with significant institutional ownership of 96.97%.

Callan Family Office LLC bought a new position in shares of Incyte Corporation (NASDAQ:INCY - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 9,333 shares of the biopharmaceutical company's stock, valued at approximately $636,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INCY. Banque Transatlantique SA bought a new position in Incyte during the first quarter worth about $26,000. Hilltop National Bank bought a new position in shares of Incyte during the 2nd quarter valued at about $37,000. SVB Wealth LLC bought a new position in shares of Incyte during the 1st quarter valued at about $39,000. Geneos Wealth Management Inc. lifted its holdings in shares of Incyte by 350.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 756 shares of the biopharmaceutical company's stock valued at $46,000 after purchasing an additional 588 shares in the last quarter. Finally, WPG Advisers LLC bought a new position in shares of Incyte during the 1st quarter valued at about $47,000. Institutional investors own 96.97% of the company's stock.

Wall Street Analysts Forecast Growth

INCY has been the topic of several recent analyst reports. BMO Capital Markets reiterated an "underperform" rating and set a $60.00 price objective (up previously from $52.00) on shares of Incyte in a report on Wednesday, July 30th. Bank of America lifted their price objective on Incyte from $90.00 to $104.00 and gave the company a "buy" rating in a report on Thursday, September 4th. Wall Street Zen upgraded Incyte from a "buy" rating to a "strong-buy" rating in a report on Friday, October 3rd. UBS Group reiterated a "neutral" rating and set a $68.00 price objective (up previously from $62.00) on shares of Incyte in a report on Wednesday, July 30th. Finally, Truist Financial lifted their price objective on Incyte from $73.00 to $79.00 and gave the company a "hold" rating in a report on Wednesday, July 30th. Five equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Incyte presently has a consensus rating of "Hold" and an average price target of $84.79.

Insider Transactions at Incyte

In other Incyte news, EVP Steven H. Stein sold 3,706 shares of the business's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $67.94, for a total transaction of $251,785.64. Following the transaction, the executive vice president owned 102,886 shares of the company's stock, valued at $6,990,074.84. The trade was a 3.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 17.80% of the company's stock.

Incyte Stock Up 1.1%

Shares of Incyte stock opened at $84.73 on Tuesday. The business's 50 day simple moving average is $84.46 and its 200 day simple moving average is $71.89. Incyte Corporation has a 52-week low of $53.56 and a 52-week high of $88.66. The firm has a market cap of $16.55 billion, a PE ratio of 19.26, a P/E/G ratio of 0.65 and a beta of 0.73. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.78 and a current ratio of 2.85.

Incyte Profile

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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