Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Stein Steven H
 2. Date of Event Requiring Statement (Month/Day/Year)
05/02/2016		 3. Issuer Name and Ticker or Trading Symbol
INCYTE CORP [INCY]
(Last)
(First)
(Middle)
1801 AUGUSTINE CUT-OFF		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
EVP & Chief Medical Officer
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

WILMINGTON, DE 19803		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 9,093 (1)
D
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Incentive Stock Option (right to buy)   (2) 01/06/2023 Common Stock 522 $ 95.76 D  
Incentive Stock Option (right to buy)   (3) 03/01/2022 Common Stock 3,381 $ 88.68 D  
Incentive Stock Option (right to buy)   (4) 01/06/2026 Common Stock 1,044 $ 95.76 D  
Non-Qualified Stock Option (right to buy)   (2) 01/06/2023 Common Stock 18,262 $ 95.76 D  
Non-Qualified Stock Option (right to buy)   (3) 03/01/2022 Common Stock 42,891 $ 88.68 D  
Non-Qualified Stock Option (right to buy)   (4) 01/06/2026 Common Stock 2,995 $ 95.76 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Stein Steven H
1801 AUGUSTINE CUT-OFF
WILMINGTON, DE 19803		       EVP & Chief Medical Officer  

Signatures

/s/ Steven H. Stein 05/11/2016
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Includes 6,483 shares underlying restricted stock units ("RSUs") that will vest in full on March 2, 2018 and 2,610 shares underlying restricted stock units ("RSUs") that will vest in full on January 7, 2019, subject to Dr. Stein's continued service with the Issuer through such vesting date. The RSUs may be settled only for shares of common stock on a one-for-one basis.
(2) Beginning January 7, 2017, options became exercisable in 25 installments, with the first 33.33% vesting after one year and the remainder vesting monthly over two years.
(3) Beginning March 2, 2016, options became exercisable in 25 installments, with the first 33.33% vesting after one year and the remainder vesting monthly over two years.
(4) Options granted on January 7, 2016 and become exercisable in full on January 7, 2020.

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