Incyte Corporation (NASDAQ:INCY) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its position in Incyte Corporation (NASDAQ:INCY - Free Report) by 2.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,682,029 shares of the biopharmaceutical company's stock after buying an additional 38,962 shares during the period. Charles Schwab Investment Management Inc. owned about 0.87% of Incyte worth $101,847,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Raiffeisen Bank International AG bought a new position in shares of Incyte in the 4th quarter valued at about $34,000. NBC Securities Inc. lifted its holdings in shares of Incyte by 88,200.0% in the 1st quarter. NBC Securities Inc. now owns 883 shares of the biopharmaceutical company's stock valued at $53,000 after acquiring an additional 882 shares during the last quarter. Intact Investment Management Inc. bought a new position in shares of Incyte in the 1st quarter valued at about $73,000. Farther Finance Advisors LLC lifted its holdings in shares of Incyte by 474.1% in the 1st quarter. Farther Finance Advisors LLC now owns 1,550 shares of the biopharmaceutical company's stock valued at $94,000 after acquiring an additional 1,280 shares during the last quarter. Finally, Colonial Trust Co SC lifted its holdings in shares of Incyte by 41.7% in the 4th quarter. Colonial Trust Co SC now owns 1,481 shares of the biopharmaceutical company's stock valued at $102,000 after acquiring an additional 436 shares during the last quarter. Institutional investors own 96.97% of the company's stock.

Incyte Stock Up 0.9%

INCY stock traded up $0.76 during trading on Friday, hitting $86.92. 1,883,502 shares of the company's stock traded hands, compared to its average volume of 1,899,944. The firm has a market capitalization of $16.97 billion, a P/E ratio of 19.75, a PEG ratio of 0.68 and a beta of 0.71. The business has a fifty day simple moving average of $71.91 and a two-hundred day simple moving average of $67.29. The company has a quick ratio of 2.78, a current ratio of 2.85 and a debt-to-equity ratio of 0.01. Incyte Corporation has a 1 year low of $53.56 and a 1 year high of $87.06.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Vijay K. Iyengar sold 8,617 shares of Incyte stock in a transaction 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 of the company's stock, valued at approximately $2,569,323.15. The trade was a 18.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 transaction of $41,097.39. Following the completion of the transaction, the executive vice president directly owned 26,504 shares in the company, valued at $1,818,439.44. This represents a 2.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 56,098 shares of company stock valued at $3,836,196. 17.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

INCY has been the subject of a number of analyst reports. Barclays initiated coverage on shares of Incyte in a report on Friday, August 1st. They issued an "overweight" rating and a $90.00 price target for the company. Truist Financial raised their price objective on shares of Incyte from $73.00 to $79.00 and gave the stock a "hold" rating in a research note on Wednesday, July 30th. Stifel Nicolaus raised shares of Incyte from a "hold" rating to a "buy" rating and raised their price objective for the stock from $75.00 to $107.00 in a research note on Monday, June 16th. Wells Fargo & Company raised shares of Incyte from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $67.00 to $89.00 in a research note on Wednesday, August 6th. Finally, Citigroup raised their price objective on shares of Incyte from $88.00 to $103.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $81.20.

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.