Private Advisory Group LLC Takes Position in Incyte Corporation $INCY

Private Advisory Group LLC acquired a new position in shares of Incyte Corporation (NASDAQ:INCY) in the 4th quarter, Holdings Channel reports. The fund acquired 9,684 shares of the biopharmaceutical company’s stock, valued at approximately $956,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new stake in Incyte during the third quarter valued at approximately $26,000. Root Financial Partners LLC bought a new position in shares of Incyte in the 3rd quarter worth $28,000. Quent Capital LLC bought a new position in shares of Incyte in the 3rd quarter worth $30,000. MUFG Securities EMEA plc purchased a new stake in shares of Incyte during the 2nd quarter valued at $32,000. Finally, CYBER HORNET ETFs LLC bought a new stake in shares of Incyte during the 2nd quarter worth $33,000. 96.97% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Incyte news, insider Pablo J. Cagnoni sold 18,667 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $94.24, for a total value of $1,759,178.08. Following the transaction, the insider owned 234,800 shares in the company, valued at approximately $22,127,552. The trade was a 7.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mohamed Khairie Issa sold 10,856 shares of the company’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $109.07, for a total transaction of $1,184,063.92. Following the transaction, the executive vice president directly owned 66,132 shares of the company’s stock, valued at approximately $7,213,017.24. This trade represents a 14.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 17.80% of the stock is owned by company insiders.

Incyte Stock Performance

Shares of INCY stock opened at $90.30 on Monday. The business has a 50-day moving average of $98.98 and a 200 day moving average of $97.09. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.32 and a quick ratio of 3.25. Incyte Corporation has a 1-year low of $53.56 and a 1-year high of $112.29. The stock has a market capitalization of $17.97 billion, a PE ratio of 14.09, a P/E/G ratio of 0.72 and a beta of 0.84.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, February 10th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.96 by ($0.16). Incyte had a net margin of 25.03% and a return on equity of 26.34%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the previous year, the firm posted $1.43 EPS. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Incyte Corporation will post 4.86 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on INCY shares. HC Wainwright reissued a “buy” rating and issued a $135.00 target price on shares of Incyte in a research note on Wednesday, March 25th. Stifel Nicolaus raised their price objective on Incyte from $119.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Jefferies Financial Group lowered Incyte from a “buy” rating to a “hold” rating and cut their target price for the stock from $120.00 to $94.00 in a research note on Monday, March 16th. Morgan Stanley set a $102.00 price target on shares of Incyte in a research note on Wednesday, February 11th. Finally, Weiss Ratings cut shares of Incyte from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, March 17th. Nine research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Incyte presently has a consensus rating of “Hold” and an average target price of $104.89.

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.