Cerity Partners LLC Acquires 67,495 Shares of Incyte Corporation (NASDAQ:INCY)

Cerity Partners LLC boosted its position in shares of Incyte Corporation (NASDAQ:INCY - Free Report) by 103.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 132,703 shares of the biopharmaceutical company's stock after buying an additional 67,495 shares during the period. Cerity Partners LLC owned 0.07% of Incyte worth $8,035,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in Incyte by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 4,040,086 shares of the biopharmaceutical company's stock valued at $278,346,000 after purchasing an additional 103,910 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Incyte by 29.7% during the fourth quarter. AQR Capital Management LLC now owns 3,502,813 shares of the biopharmaceutical company's stock worth $241,519,000 after purchasing an additional 801,090 shares during the last quarter. LSV Asset Management lifted its holdings in shares of Incyte by 18.6% during the 4th quarter. LSV Asset Management now owns 3,467,490 shares of the biopharmaceutical company's stock valued at $239,500,000 after acquiring an additional 544,080 shares in the last quarter. Bellevue Group AG lifted its holdings in shares of Incyte by 0.3% during the 4th quarter. Bellevue Group AG now owns 2,157,478 shares of the biopharmaceutical company's stock valued at $149,017,000 after acquiring an additional 6,927 shares in the last quarter. Finally, Norges Bank acquired a new position in Incyte during the 4th quarter worth approximately $121,890,000. Institutional investors and hedge funds own 96.97% of the company's stock.

Analysts Set New Price Targets

INCY has been the topic of several research reports. JPMorgan Chase & Co. dropped their price target on Incyte from $68.00 to $67.00 and set a "neutral" rating on the stock in a research report on Monday. Wells Fargo & Company lifted their price target on Incyte from $58.00 to $59.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. Royal Bank Of Canada set a $67.00 price target on shares of Incyte and gave the stock a "sector perform" rating in a research report on Monday, June 23rd. Morgan Stanley decreased their target price on Incyte from $69.00 to $65.00 and set an "equal weight" rating on the stock in a report on Monday, March 24th. Finally, UBS Group reissued a "neutral" rating and issued a $61.00 price target on shares of Incyte in a research note on Tuesday, June 3rd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Incyte presently has a consensus rating of "Hold" and an average price target of $74.47.

Incyte Price Performance

INCY stock traded down $0.17 during trading on Thursday, hitting $69.06. 297,886 shares of the stock traded hands, compared to its average volume of 1,878,700. The company has a 50 day simple moving average of $66.75 and a 200 day simple moving average of $66.65. The company has a current ratio of 2.04, a quick ratio of 2.00 and a debt-to-equity ratio of 0.01. Incyte Corporation has a one year low of $53.56 and a one year high of $83.95. The stock has a market cap of $13.37 billion, a price-to-earnings ratio of 215.75, a P/E/G ratio of 0.57 and a beta of 0.68.

Incyte (NASDAQ:INCY - Get Free Report) last released its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share for the quarter, topping analysts' consensus estimates of $1.01 by $0.15. Incyte had a return on equity of 2.77% and a net margin of 0.48%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $996.17 million. During the same quarter in the previous year, the company posted $0.64 earnings per share. The firm's quarterly revenue was up 19.5% on a year-over-year basis. Equities analysts expect that Incyte Corporation will post 4.86 EPS for the current fiscal year.

Insider Transactions at Incyte

In related news, EVP Barry P. Flannelly sold 10,903 shares of the business's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $68.15, for a total value of $743,039.45. Following the completion of the sale, the executive vice president directly owned 39,744 shares in the company, valued at $2,708,553.60. The trade was a 21.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Vijay K. Iyengar sold 8,617 shares of the business's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $68.15, for a total transaction of $587,248.55. Following the completion of the sale, the executive vice president directly owned 37,701 shares of the company's stock, valued at approximately $2,569,323.15. The trade was a 18.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,392 shares of company stock worth $3,584,411 in the last 90 days. Company 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.