Incyte Corporation $INCY Shares Purchased by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. boosted its stake in Incyte Corporation (NASDAQ:INCY) by 20.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 63,000 shares of the biopharmaceutical company’s stock after buying an additional 10,500 shares during the period. Incyte makes up approximately 1.0% of Hussman Strategic Advisors Inc.’s portfolio, making the stock its 15th biggest position. Hussman Strategic Advisors Inc.’s holdings in Incyte were worth $4,290,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of INCY. AQR Capital Management LLC raised its stake in shares of Incyte by 92.3% in the 1st quarter. AQR Capital Management LLC now owns 6,736,169 shares of the biopharmaceutical company’s stock valued at $405,787,000 after acquiring an additional 3,233,356 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of Incyte by 71.5% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 2,386,311 shares of the biopharmaceutical company’s stock worth $162,508,000 after purchasing an additional 995,204 shares during the period. Acadian Asset Management LLC increased its holdings in Incyte by 65.6% in the 1st quarter. Acadian Asset Management LLC now owns 2,511,872 shares of the biopharmaceutical company’s stock valued at $152,062,000 after purchasing an additional 994,609 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Incyte in the second quarter valued at approximately $50,076,000. Finally, Victory Capital Management Inc. lifted its stake in Incyte by 581.3% during the first quarter. Victory Capital Management Inc. now owns 813,140 shares of the biopharmaceutical company’s stock worth $49,236,000 after purchasing an additional 693,782 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Stock Performance

Shares of INCY opened at $101.57 on Tuesday. The stock has a 50-day simple moving average of $86.64 and a 200-day simple moving average of $75.28. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.78 and a current ratio of 3.20. The stock has a market capitalization of $19.94 billion, a PE ratio of 17.01, a PEG ratio of 0.70 and a beta of 0.73. Incyte Corporation has a 1 year low of $53.56 and a 1 year high of $101.79.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on INCY shares. UBS Group reaffirmed a “neutral” rating and issued a $68.00 price objective (up from $62.00) on shares of Incyte in a research note on Wednesday, July 30th. Wall Street Zen upgraded Incyte from a “buy” rating to a “strong-buy” rating in a report on Saturday. Citigroup boosted their price target 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. Barclays increased their price target on shares of Incyte from $90.00 to $101.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Incyte in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $92.00.

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.