Incyte Corporation $INCY Stake Decreased by Koss Olinger Consulting LLC

Koss Olinger Consulting LLC decreased its position in shares of Incyte Corporation (NASDAQ:INCY) by 1.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,819 shares of the biopharmaceutical company’s stock after selling 644 shares during the period. Koss Olinger Consulting LLC’s holdings in Incyte were worth $2,916,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in INCY. Banque Transatlantique SA bought a new stake in Incyte during the first quarter worth approximately $26,000. FNY Investment Advisers LLC bought a new stake in Incyte during the second quarter worth approximately $27,000. Hilltop National Bank bought a new stake in Incyte during the second quarter worth approximately $37,000. SVB Wealth LLC bought a new stake in Incyte during the first quarter worth approximately $39,000. Finally, Geneos Wealth Management Inc. raised its holdings in Incyte by 350.0% during the first quarter. Geneos Wealth Management Inc. now owns 756 shares of the biopharmaceutical company’s stock worth $46,000 after purchasing an additional 588 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.

Incyte Trading Up 2.2%

Incyte stock opened at $91.28 on Monday. The company’s fifty day simple moving average is $85.64 and its 200-day simple moving average is $73.64. The company has a quick ratio of 2.78, a current ratio of 2.85 and a debt-to-equity ratio of 0.01. Incyte Corporation has a 12 month low of $53.56 and a 12 month high of $92.86. The stock has a market cap of $17.83 billion, a P/E ratio of 20.75, a P/E/G ratio of 0.71 and a beta of 0.73.

Analyst Ratings Changes

Several brokerages recently commented on INCY. Truist Financial boosted their target price on Incyte from $73.00 to $79.00 and gave the stock a “hold” rating in a report on Wednesday, July 30th. Zacks Research raised Incyte from a “hold” rating to a “strong-buy” rating in a report on Friday, October 10th. Citigroup lifted their price target on shares of Incyte from $88.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, July 30th. Royal Bank Of Canada lifted their price target on shares of Incyte from $72.00 to $81.00 and gave the stock a “sector perform” rating in a research report on Wednesday, September 24th. Finally, Wells Fargo & Company upgraded shares of Incyte from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $67.00 to $89.00 in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $84.79.

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.