8,230 Shares in Incyte Corporation $INCY Acquired by SG Trading Solutions LLC

SG Trading Solutions LLC bought a new position in shares of Incyte Corporation (NASDAQ:INCY) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 8,230 shares of the biopharmaceutical company’s stock, valued at approximately $813,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Elyxium Wealth LLC bought a new position in shares of Incyte in the fourth quarter valued at approximately $28,000. Smithfield Trust Co boosted its holdings 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 buying an additional 162 shares during the period. MUFG Securities EMEA plc bought a new stake in shares of Incyte during the 2nd quarter worth $32,000. CYBER HORNET ETFs LLC acquired a new position in Incyte in the 2nd quarter valued at $33,000. Finally, Leonteq Securities AG acquired a new position in Incyte in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Trading Down 0.8%

Shares of INCY stock opened at $98.22 on Friday. Incyte Corporation has a 1 year low of $66.74 and a 1 year high of $112.29. The firm’s fifty day simple moving average is $98.15 and its 200 day simple moving average is $98.97. The firm has a market capitalization of $19.62 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 0.96 and a beta of 0.79. The company has a current ratio of 3.68, a quick ratio of 3.60 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.38 by $0.43. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The business’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.16 EPS. As a group, sell-side analysts predict that Incyte Corporation will post 6.64 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on INCY shares. UBS Group dropped their target price on shares of Incyte from $104.00 to $94.00 and set a “neutral” rating on the stock in a report on Wednesday, March 25th. Citigroup reaffirmed a “market perform” rating on shares of Incyte in a research report on Tuesday, June 2nd. BMO Capital Markets reiterated an “underperform” rating on shares of Incyte in a research note on Monday. HC Wainwright lifted their price objective on Incyte from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. Finally, Oppenheimer reissued a “market perform” rating and set a $107.00 price objective on shares of Incyte in a research report on Monday, June 8th. Eight analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $105.10.

Insider Activity

In other news, insider Pablo J. Cagnoni sold 18,667 shares of the company’s 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 owned 262,692 shares of the company’s stock, valued at approximately $25,349,778. This represents a 6.63% decrease in their ownership of the stock. The sale was disclosed in a filing 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. Insiders own 16.20% of the company’s stock.

Incyte Company 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.