Fideuram Intesa Sanpaolo Private Banking S.P.A. Buys Shares of 52,607 Incyte Corporation $INCY

Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in Incyte Corporation (NASDAQ:INCY) during the 1st quarter, Holdings Channel reports. The fund purchased 52,607 shares of the biopharmaceutical company’s stock, valued at approximately $4,951,000.

A number of other hedge funds have also recently modified their holdings of INCY. Jacobi Capital Management LLC raised its position in shares of Incyte by 0.9% during the 4th quarter. Jacobi Capital Management LLC now owns 10,613 shares of the biopharmaceutical company’s stock valued at $1,048,000 after buying an additional 99 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in Incyte by 0.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 18,870 shares of the biopharmaceutical company’s stock worth $1,864,000 after acquiring an additional 100 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in Incyte by 7.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,628 shares of the biopharmaceutical company’s stock worth $161,000 after acquiring an additional 113 shares during the last quarter. Bank of Nova Scotia lifted its stake in shares of Incyte by 0.7% in the 2nd quarter. Bank of Nova Scotia now owns 17,041 shares of the biopharmaceutical company’s stock valued at $1,160,000 after purchasing an additional 124 shares during the last quarter. Finally, Perbak Capital Partners LLP boosted its holdings in shares of Incyte by 2.5% in the 3rd quarter. Perbak Capital Partners LLP now owns 5,298 shares of the biopharmaceutical company’s stock worth $449,000 after purchasing an additional 129 shares during the period. Institutional investors own 96.97% of the company’s stock.

Insiders Place Their Bets

In other news, insider Pablo J. Cagnoni sold 18,667 shares of the business’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $96.50, for a total transaction of $1,801,365.50. Following the sale, the insider owned 262,692 shares in the company, valued at approximately $25,349,778. The trade was a 6.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 16.20% of the company’s stock.

Incyte Price Performance

Incyte stock opened at $116.86 on Friday. Incyte Corporation has a twelve month low of $66.85 and a twelve month high of $118.69. The business has a fifty day moving average of $101.13 and a two-hundred day moving average of $99.85. The firm has a market cap of $23.35 billion, a P/E ratio of 16.51, a P/E/G ratio of 1.07 and a beta of 0.76. The company has a quick ratio of 3.60, a current ratio of 3.68 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.43. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the firm earned $1.16 earnings per share. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. On average, analysts forecast that Incyte Corporation will post 6.61 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on INCY shares. Citigroup reiterated a “market perform” rating on shares of Incyte in a research report on Tuesday, June 2nd. UBS Group raised their target price on shares of Incyte from $103.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. Truist Financial lifted their price target on shares of Incyte from $103.00 to $105.00 and gave the stock a “hold” rating in a research note on Monday, June 22nd. Barclays reiterated an “overweight” rating on shares of Incyte in a report on Tuesday, March 24th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Incyte in a research report on Monday. Eight analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $107.85.

Incyte 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.