Cerity Partners LLC Has $8.04 Million Holdings in Incyte Corporation (NASDAQ:INCY)

Cerity Partners LLC boosted its holdings in shares of Incyte Corporation (NASDAQ:INCY - Free Report) by 103.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 132,703 shares of the biopharmaceutical company's stock after purchasing an additional 67,495 shares during the quarter. Cerity Partners LLC owned about 0.07% of Incyte worth $8,035,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Incyte during the fourth quarter valued at about $121,890,000. AQR Capital Management LLC raised its position 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 valued at $241,519,000 after buying an additional 801,090 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Incyte by 861.0% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 891,659 shares of the biopharmaceutical company's stock valued at $61,587,000 after buying an additional 798,877 shares during the last quarter. Sound Shore Management Inc. CT raised its position in shares of Incyte by 98.4% during the fourth quarter. Sound Shore Management Inc. CT now owns 1,201,089 shares of the biopharmaceutical company's stock valued at $82,959,000 after buying an additional 595,741 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its position in shares of Incyte by 73.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,313,873 shares of the biopharmaceutical company's stock worth $90,749,000 after acquiring an additional 556,218 shares during the period. Institutional investors own 96.97% of the company's stock.

Incyte Trading Down 0.4%

Shares of NASDAQ INCY traded down $0.26 during midday trading on Friday, hitting $68.69. The stock had a trading volume of 210,771 shares, compared to its average volume of 1,937,524. The company's 50-day simple moving average is $66.94 and its 200 day simple moving average is $66.66. The firm has a market cap of $13.30 billion, a P/E ratio of 214.65, a price-to-earnings-growth ratio of 0.57 and a beta of 0.68. Incyte Corporation has a fifty-two week low of $53.56 and a fifty-two week high of $83.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.04 and a quick ratio of 2.00.

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

Insider Buying and Selling at Incyte

In related news, EVP Vijay K. Iyengar sold 8,617 shares of the stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $68.15, for a total value of $587,248.55. Following the transaction, the executive vice president directly owned 37,701 shares in the company, valued at $2,569,323.15. This represents a 18.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Sheila A. Denton sold 599 shares of Incyte stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $68.61, for a total value of $41,097.39. Following the sale, the executive vice president directly owned 26,504 shares of the company's stock, valued at approximately $1,818,439.44. This trade represents a 2.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,392 shares of company stock valued at $3,584,411. 17.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on the company. Truist Financial raised their price objective on Incyte from $72.00 to $73.00 and gave the stock a "hold" rating in a research report on Tuesday, May 27th. UBS Group reiterated a "neutral" rating and issued a $61.00 price objective on shares of Incyte in a research report on Tuesday, June 3rd. Wells Fargo & Company raised their price objective on Incyte from $58.00 to $59.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. Citigroup reiterated a "buy" rating on shares of Incyte in a research report on Tuesday, June 3rd. Finally, Royal Bank Of Canada set a $67.00 price objective on Incyte and gave the stock a "sector perform" rating in a research report on Monday, June 23rd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Incyte currently has an average rating of "Hold" and an average target price of $74.47.

Incyte Company 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.