Pacer Advisors Inc. Boosts Stake in Incyte Corporation $INCY

Pacer Advisors Inc. lifted its position in Incyte Corporation (NASDAQ:INCY) by 8,091.6% in the 3rd quarter, Holdings Channel reports. The fund owned 1,248,642 shares of the biopharmaceutical company’s stock after acquiring an additional 1,233,399 shares during the quarter. Pacer Advisors Inc.’s holdings in Incyte were worth $105,897,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Czech National Bank boosted its holdings in shares of Incyte by 6.4% during the 2nd quarter. Czech National Bank now owns 39,271 shares of the biopharmaceutical company’s stock valued at $2,674,000 after buying an additional 2,378 shares in the last quarter. denkapparat Operations GmbH increased its stake in shares of Incyte by 46.1% in the 2nd quarter. denkapparat Operations GmbH now owns 11,292 shares of the biopharmaceutical company’s stock worth $769,000 after acquiring an additional 3,564 shares in the last quarter. Hussman Strategic Advisors Inc. lifted its position in Incyte by 20.0% during the 2nd quarter. Hussman Strategic Advisors Inc. now owns 63,000 shares of the biopharmaceutical company’s stock valued at $4,290,000 after acquiring an additional 10,500 shares during the period. Fisher Asset Management LLC boosted its stake in Incyte by 74.6% during the second quarter. Fisher Asset Management LLC now owns 29,922 shares of the biopharmaceutical company’s stock worth $2,038,000 after acquiring an additional 12,785 shares in the last quarter. Finally, Callan Family Office LLC bought a new stake in Incyte during the second quarter worth about $636,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on INCY shares. Oppenheimer downgraded shares of Incyte from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 8th. Mizuho set a $121.00 price target on Incyte and gave the stock an “outperform” rating in a research note on Monday, December 8th. Bank of America raised their price objective on Incyte from $90.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, September 4th. JPMorgan Chase & Co. lifted their price objective on Incyte from $73.00 to $89.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Incyte in a research note on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $99.79.

Incyte Stock Performance

INCY stock opened at $100.27 on Friday. The stock’s 50 day simple moving average is $99.33 and its 200 day simple moving average is $85.52. The company has a current ratio of 3.20, a quick ratio of 3.13 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 $109.28. The stock has a market capitalization of $19.68 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 0.69 and a beta of 0.81.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, October 28th. The biopharmaceutical company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.61. The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Incyte had a return on equity of 26.56% and a net margin of 24.69%.The company’s revenue was up 20.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.07 earnings per share. As a group, research analysts forecast that Incyte Corporation will post 4.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Lee Heeson sold 3,074 shares of Incyte stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $94.02, for a total value of $289,017.48. Following the completion of the sale, the executive vice president directly owned 29,241 shares in the company, valued at $2,749,238.82. The trade was a 9.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Thomas Tray sold 2,774 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $100.00, for a total transaction of $277,400.00. Following the transaction, the insider directly owned 22,973 shares of the company’s stock, valued at $2,297,300. The trade was a 10.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 88,318 shares of company stock worth $8,708,893 in the last three months. 17.80% of the stock is currently owned by company insiders.

About Incyte

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.