EP Wealth Advisors LLC Purchases New Shares in Incyte Corporation $INCY

EP Wealth Advisors LLC acquired a new stake in Incyte Corporation (NASDAQ:INCY - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 10,863 shares of the biopharmaceutical company's stock, valued at approximately $1,231,000.

Several other large investors have also recently added to or reduced their stakes in the company. Elyxium Wealth LLC acquired a new stake in Incyte in the 4th quarter worth about $28,000. Smithfield Trust Co grew its position in shares of Incyte by 135.0% during the 4th quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company's stock worth $28,000 after purchasing an additional 162 shares in the last quarter. Atlas Capital Advisors Inc. bought a new position in shares of Incyte during the fourth quarter worth approximately $35,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Incyte during the fourth quarter worth approximately $35,000. Finally, Leonteq Securities AG acquired a new stake in shares of Incyte in the fourth quarter valued at approximately $35,000. Institutional investors own 96.97% of the company's stock.

Analyst Upgrades and Downgrades

INCY has been the subject of several recent research reports. Weiss Ratings upgraded Incyte from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, July 29th. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $104.00 price objective on shares of Incyte in a report on Thursday, August 13th. JPMorgan Chase & Co. upped their target price on Incyte from $105.00 to $110.00 and gave the company a "neutral" rating in a research report on Thursday, July 23rd. BMO Capital Markets increased their target price on Incyte from $112.00 to $130.00 and gave the stock a "market perform" rating in a report on Wednesday, July 29th. Finally, Morgan Stanley set a $119.00 price target on Incyte in a research report on Wednesday, July 29th. Twelve analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $123.10.

Insider Transactions at Incyte

In other Incyte news, EVP Patrick A. Mayes sold 41,899 shares of the business's stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $119.46, for a total transaction of $5,005,254.54. Following the completion of the transaction, the executive vice president owned 61,441 shares of the company's stock, valued at approximately $7,339,741.86. The trade was a 40.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Pablo J. Cagnoni sold 10,801 shares of the stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $125.56, for a total transaction of $1,356,173.56. Following the completion of the transaction, the insider directly owned 183,200 shares of the company's stock, valued at $23,002,592. This trade represents a 5.57% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 16.20% of the company's stock.

Incyte Stock Performance

Shares of INCY stock opened at $127.81 on Monday. The stock's fifty day moving average price is $116.17 and its two-hundred day moving average price is $104.18. The company has a market cap of $25.91 billion, a PE ratio of 16.28, a P/E/G ratio of 4.05 and a beta of 0.76. Incyte Corporation has a fifty-two week low of $81.09 and a fifty-two week high of $132.60.

Incyte (NASDAQ:INCY - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The biopharmaceutical company reported $3.09 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.94. Incyte had a return on equity of 29.93% and a net margin of 27.71%.The company had revenue of $1.67 billion during the quarter, compared to analysts' expectations of $1.50 billion. During the same quarter in the previous year, the firm earned $1.57 EPS. Incyte's revenue was up 37.7% on a year-over-year basis. On average, equities analysts predict that Incyte Corporation will post 2.61 EPS for the current fiscal year.

Incyte Company Profile

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.

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