Jackson Thornton Wealth Management LLC Makes New Investment in Incyte Corporation $INCY

Jackson Thornton Wealth Management LLC acquired a new position in Incyte Corporation (NASDAQ:INCY) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,621 shares of the biopharmaceutical company’s stock, valued at approximately $245,000.

A number of other hedge funds also recently modified their holdings of INCY. Banque Transatlantique SA bought a new stake in shares of Incyte in the 1st quarter worth approximately $26,000. Hilltop National Bank bought a new stake in shares of Incyte in the 2nd quarter worth approximately $37,000. SVB Wealth LLC bought a new stake in shares of Incyte in the 1st quarter worth approximately $39,000. Geneos Wealth Management Inc. lifted its position in shares of Incyte by 350.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 756 shares of the biopharmaceutical company’s stock worth $46,000 after acquiring an additional 588 shares during the period. Finally, WPG Advisers LLC bought a new stake in shares of Incyte in the 1st quarter worth approximately $47,000. Institutional investors own 96.97% of the company’s stock.

Incyte Trading Down 1.6%

Shares of INCY opened at $86.17 on Tuesday. The stock has a fifty day moving average price of $85.34 and a two-hundred day moving average price of $72.79. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.78 and a current ratio of 2.85. Incyte Corporation has a 52-week low of $53.56 and a 52-week high of $92.86. The company has a market cap of $16.83 billion, a price-to-earnings ratio of 19.58, a PEG ratio of 0.68 and a beta of 0.73.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Incyte in a research report on Wednesday, October 8th. Royal Bank Of Canada raised their target price on Incyte from $72.00 to $81.00 and gave the stock a “sector perform” rating in a research report on Wednesday, September 24th. Zacks Research upgraded Incyte from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Wall Street Zen downgraded Incyte from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Guggenheim restated a “neutral” rating on shares of Incyte in a research report on Friday, September 19th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Incyte has an average rating of “Hold” and a consensus target price of $84.79.

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.