Intech Investment Management LLC Buys 12,816 Shares of Incyte Corporation $INCY

Intech Investment Management LLC lifted its stake in shares of Incyte Corporation (NASDAQ:INCY) by 25.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,269 shares of the biopharmaceutical company’s stock after purchasing an additional 12,816 shares during the period. Intech Investment Management LLC’s holdings in Incyte were worth $6,249,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Elyxium Wealth LLC bought a new stake in shares of Incyte during the 4th quarter worth approximately $28,000. Smithfield Trust Co raised its stake in shares of Incyte by 135.0% during the 4th quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 162 shares in the last quarter. MUFG Securities EMEA plc bought a new stake in shares of Incyte during the 2nd quarter worth approximately $32,000. CYBER HORNET ETFs LLC bought a new stake in shares of Incyte during the 2nd quarter worth approximately $33,000. Finally, Leonteq Securities AG bought a new stake in shares of Incyte during the 4th quarter worth approximately $35,000. Institutional investors own 96.97% of the company’s stock.

Incyte Stock Down 0.8%

INCY stock opened at $96.74 on Friday. The company has a current ratio of 3.68, a quick ratio of 3.60 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $19.33 billion, a PE ratio of 13.66, a PEG ratio of 0.93 and a beta of 0.79. Incyte Corporation has a 1-year low of $63.92 and a 1-year high of $112.29. The business’s 50 day simple moving average is $95.84 and its 200 day simple moving average is $99.39.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.43. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the firm posted $1.16 EPS. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. As a group, research analysts anticipate that Incyte Corporation will post 6.74 EPS for the current year.

Insider Buying and Selling

In other Incyte news, insider Pablo J. Cagnoni sold 18,667 shares of the company’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $96.50, for a total value of $1,801,365.50. Following the transaction, the insider directly owned 262,692 shares of the company’s stock, valued at $25,349,778. This represents a 6.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on INCY shares. Morgan Stanley set a $102.00 price objective on Incyte in a research note on Wednesday, February 11th. Royal Bank Of Canada dropped their price objective on Incyte from $95.00 to $92.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 11th. Citigroup reiterated a “buy” rating on shares of Incyte in a research note on Thursday, May 21st. Jefferies Financial Group lowered Incyte from a “buy” rating to a “hold” rating and decreased their target price for the stock from $120.00 to $94.00 in a report on Monday, March 16th. Finally, Barclays reissued an “overweight” rating on shares of Incyte in a report on Tuesday, March 24th. Ten analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $104.00.

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.