Crossmark Global Holdings Inc. Buys 6,964 Shares of Incyte Corporation $INCY

Crossmark Global Holdings Inc. boosted its stake in shares of Incyte Corporation (NASDAQ:INCY) by 9.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,784 shares of the biopharmaceutical company’s stock after purchasing an additional 6,964 shares during the period. Crossmark Global Holdings Inc.’s holdings in Incyte were worth $7,979,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INCY. Credit Capital Investments LLC purchased a new stake in Incyte during the fourth quarter valued at approximately $474,000. Allegiance Financial Group Advisory Services LLC increased its holdings in Incyte by 12.3% during the fourth quarter. Allegiance Financial Group Advisory Services LLC now owns 4,547 shares of the biopharmaceutical company’s stock valued at $449,000 after buying an additional 499 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in Incyte by 32.5% during the fourth quarter. Sequoia Financial Advisors LLC now owns 13,455 shares of the biopharmaceutical company’s stock valued at $1,329,000 after buying an additional 3,301 shares during the last quarter. Gateway Investment Advisers LLC increased its holdings in Incyte by 45.5% during the fourth quarter. Gateway Investment Advisers LLC now owns 13,250 shares of the biopharmaceutical company’s stock valued at $1,309,000 after buying an additional 4,144 shares during the last quarter. Finally, Plan Group Financial LLC purchased a new stake in Incyte during the fourth quarter valued at approximately $212,000. Institutional investors own 96.97% of the company’s stock.

Insider Activity at Incyte

In related news, insider Pablo J. Cagnoni sold 18,667 shares of Incyte stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $96.50, for a total transaction of $1,801,365.50. Following the completion of the transaction, the insider directly owned 262,692 shares of the company’s stock, valued at approximately $25,349,778. The trade was a 6.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 17.80% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on INCY shares. Wells Fargo & Company reduced their price objective on shares of Incyte from $107.00 to $101.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 11th. Weiss Ratings raised shares of Incyte from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, April 1st. HC Wainwright reissued a “buy” rating and issued a $135.00 price objective on shares of Incyte in a research note on Monday, May 4th. Jefferies Financial Group cut shares of Incyte from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $120.00 to $94.00 in a research note on Monday, March 16th. Finally, UBS Group reduced their price objective on shares of Incyte from $104.00 to $94.00 and set a “neutral” rating for the company in a research note on Wednesday, March 25th. Ten research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $104.26.

Incyte Stock Performance

Shares of NASDAQ INCY opened at $98.56 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.60 and a current ratio of 3.68. The company has a market cap of $19.69 billion, a P/E ratio of 13.92, a P/E/G ratio of 0.93 and a beta of 0.79. The firm’s fifty day moving average is $95.55 and its two-hundred day moving average is $99.15. Incyte Corporation has a 52-week low of $58.94 and a 52-week high of $112.29.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.43. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the company posted $1.16 EPS. The business’s revenue was up 20.9% on a year-over-year basis. As a group, analysts anticipate that Incyte Corporation will post 6.73 EPS for the current fiscal year.

Incyte Profile

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.