Focus Partners Advisor Solutions LLC Grows Stock Holdings in Incyte Corporation $INCY

Focus Partners Advisor Solutions LLC lifted its position in Incyte Corporation (NASDAQ:INCY) by 35.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 29,497 shares of the biopharmaceutical company’s stock after acquiring an additional 7,696 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in Incyte were worth $2,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. FNY Investment Advisers LLC acquired a new position in Incyte during the second quarter worth $27,000. Banque Transatlantique SA purchased a new stake in shares of Incyte during the first quarter worth $26,000. Hilltop National Bank purchased a new stake in shares of Incyte during the second quarter worth $37,000. SVB Wealth LLC purchased a new stake in shares of Incyte during the first quarter worth $39,000. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Incyte by 350.0% in the first quarter. Geneos Wealth Management Inc. now owns 756 shares of the biopharmaceutical company’s stock valued at $46,000 after purchasing an additional 588 shares during the period. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on INCY. UBS Group reissued a “neutral” rating and issued a $68.00 price objective (up previously from $62.00) on shares of Incyte in a report on Wednesday, July 30th. Oppenheimer lowered shares of Incyte from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 8th. Bank of America increased their target price on shares of Incyte from $90.00 to $104.00 and gave the stock a “buy” rating in a research note on Thursday, September 4th. Citigroup increased their target price 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. Finally, JPMorgan Chase & Co. increased their target price on shares of Incyte from $73.00 to $89.00 and gave the stock a “neutral” rating in a research note on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $84.79.

Incyte Stock Up 2.2%

Shares of INCY opened at $91.28 on Monday. The stock has a market capitalization of $17.83 billion, a PE ratio of 20.75, a P/E/G ratio of 0.71 and a beta of 0.73. Incyte Corporation has a 1 year low of $53.56 and a 1 year high of $92.86. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.78 and a current ratio of 2.85. The company’s 50-day simple moving average is $85.64 and its 200-day simple moving average is $73.64.

Incyte 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.