Ensign Peak Advisors Inc Has $22.51 Million Holdings in Incyte Co. (NASDAQ:INCY)

Ensign Peak Advisors Inc boosted its position in shares of Incyte Co. (NASDAQ:INCY) by 71.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 371,278 shares of the biopharmaceutical company’s stock after purchasing an additional 154,663 shares during the period. Ensign Peak Advisors Inc’s holdings in Incyte were worth $22,507,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Cape Investment Advisory Inc. acquired a new stake in shares of Incyte during the 4th quarter worth approximately $25,000. MFA Wealth Advisors LLC acquired a new stake in shares of Incyte in the 2nd quarter valued at $26,000. Redmont Wealth Advisors LLC bought a new position in Incyte in the first quarter valued at about $28,000. Riverview Trust Co bought a new position in Incyte in the first quarter valued at about $29,000. Finally, Fidelis Capital Partners LLC bought a new position in shares of Incyte in the first quarter worth about $32,000. 96.97% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Barry P. Flannelly sold 8,148 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $60.00, for a total transaction of $488,880.00. Following the transaction, the executive vice president now directly owns 50,534 shares of the company’s stock, valued at $3,032,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Incyte news, EVP Barry P. Flannelly sold 1,306 shares of Incyte stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $64.19, for a total transaction of $83,832.14. Following the completion of the transaction, the executive vice president now owns 58,042 shares in the company, valued at approximately $3,725,715.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Barry P. Flannelly sold 8,148 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $60.00, for a total value of $488,880.00. Following the completion of the sale, the executive vice president now directly owns 50,534 shares of the company’s stock, valued at $3,032,040. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,047 shares of company stock worth $2,225,626. Corporate insiders own 17.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on INCY shares. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a report on Monday, September 16th. JPMorgan Chase & Co. boosted their target price on shares of Incyte from $59.00 to $61.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. JMP Securities reiterated a “market perform” rating on shares of Incyte in a research note on Tuesday, September 17th. William Blair restated an “outperform” rating on shares of Incyte in a research report on Monday, September 9th. Finally, Guggenheim increased their target price on Incyte from $86.00 to $92.00 and gave the company a “buy” rating in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Incyte presently has an average rating of “Hold” and a consensus price target of $73.24.

Incyte Stock Performance

Shares of INCY opened at $65.74 on Monday. The firm’s fifty day simple moving average is $64.37 and its two-hundred day simple moving average is $59.80. Incyte Co. has a 12 month low of $50.27 and a 12 month high of $70.36. The company has a current ratio of 1.92, a quick ratio of 1.84 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $14.76 billion, a P/E ratio of 19.92, a price-to-earnings-growth ratio of 5.03 and a beta of 0.73.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing the consensus estimate of $0.78 by ($2.60). The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. Incyte had a return on equity of 0.75% and a net margin of 2.52%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the business earned $0.77 EPS. As a group, analysts predict that Incyte Co. will post 0.67 EPS for the current year.

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.