Northwest & Ethical Investments L.P. Boosts Position in Incyte Corporation $INCY

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Northwest & Ethical Investments L.P. boosted its stake in Incyte Corporation (NASDAQ:INCY - Free Report) by 42.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,217 shares of the biopharmaceutical company's stock after buying an additional 6,273 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Incyte were worth $1,285,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. raised its position in Incyte by 0.7% in the 1st quarter. Principal Financial Group Inc. now owns 213,947 shares of the biopharmaceutical company's stock valued at $12,954,000 after buying an additional 1,419 shares during the last quarter. Amalgamated Bank raised its position in Incyte by 1.9% in the 1st quarter. Amalgamated Bank now owns 31,551 shares of the biopharmaceutical company's stock valued at $1,910,000 after buying an additional 591 shares during the last quarter. Asset Management One Co. Ltd. raised its position in Incyte by 0.8% in the 1st quarter. Asset Management One Co. Ltd. now owns 90,031 shares of the biopharmaceutical company's stock valued at $5,451,000 after buying an additional 747 shares during the last quarter. Farther Finance Advisors LLC raised its position in 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 buying an additional 1,280 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Incyte by 10.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,026 shares of the biopharmaceutical company's stock valued at $1,577,000 after buying an additional 2,559 shares during the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Incyte

In related news, EVP Sheila A. Denton sold 599 shares of Incyte stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $68.61, for a total value of $41,097.39. Following the completion of the sale, the executive vice president 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Vijay K. Iyengar sold 1,177 shares of Incyte stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $69.86, for a total value of $82,225.22. Following the completion of the sale, the executive vice president directly owned 35,929 shares of the company's stock, valued at approximately $2,509,999.94. This trade represents a 3.17% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 56,098 shares of company stock worth $3,836,196. Insiders own 17.80% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Barclays assumed coverage on Incyte in a research report on Friday, August 1st. They issued an "overweight" rating and a $90.00 price target for the company. Wells Fargo & Company raised Incyte from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $67.00 to $89.00 in a research report on Wednesday, August 6th. Wall Street Zen raised Incyte from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, April 30th. Stifel Nicolaus raised Incyte from a "hold" rating to a "buy" rating and raised their target price for the company from $75.00 to $107.00 in a research report on Monday, June 16th. Finally, Royal Bank Of Canada raised their target price on Incyte from $68.00 to $72.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 30th. Seven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $81.60.

Incyte Stock Performance

Shares of Incyte stock traded down $1.49 during trading hours on Friday, hitting $85.04. 1,475,760 shares of the company's stock traded hands, compared to its average volume of 1,949,562. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.85 and a quick ratio of 2.78. The stock has a market capitalization of $16.61 billion, a price-to-earnings ratio of 19.33, a PEG ratio of 0.67 and a beta of 0.71. Incyte Corporation has a 12-month low of $53.56 and a 12-month high of $87.24. The company has a fifty day simple moving average of $73.56 and a 200-day simple moving average of $67.59.

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.