Vestcor Inc Grows Holdings in Incyte Corporation $INCY

Vestcor Inc boosted its holdings in Incyte Corporation (NASDAQ:INCY) by 9.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,557 shares of the biopharmaceutical company’s stock after purchasing an additional 10,711 shares during the quarter. Vestcor Inc’s holdings in Incyte were worth $12,599,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of INCY. Norges Bank purchased a new stake in Incyte in the 4th quarter valued at $122,893,000. Caisse de depot et placement du Quebec raised its position in Incyte by 264.5% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,498,013 shares of the biopharmaceutical company’s stock valued at $127,046,000 after purchasing an additional 1,087,091 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Incyte by 5,218.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 596,840 shares of the biopharmaceutical company’s stock valued at $58,950,000 after purchasing an additional 585,618 shares during the last quarter. Man Group plc raised its position in Incyte by 52.8% in the 2nd quarter. Man Group plc now owns 1,610,670 shares of the biopharmaceutical company’s stock valued at $109,687,000 after purchasing an additional 556,243 shares during the last quarter. Finally, Squarepoint Ops LLC raised its position in Incyte by 9,739.1% in the 2nd quarter. Squarepoint Ops LLC now owns 558,171 shares of the biopharmaceutical company’s stock valued at $38,011,000 after purchasing an additional 552,498 shares during the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Stock Up 1.1%

Shares of Incyte stock opened at $102.38 on Friday. The company has a market cap of $20.45 billion, a P/E ratio of 14.46, a PEG ratio of 0.98 and a beta of 0.79. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.60 and a current ratio of 3.68. Incyte Corporation has a one year low of $66.74 and a one year high of $112.29. The firm has a fifty day moving average of $96.49 and a two-hundred day moving average of $99.09.

Incyte (NASDAQ:INCY) last announced 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 company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the firm earned $1.16 EPS. Incyte’s quarterly revenue was up 20.9% on a year-over-year basis. On average, analysts forecast that Incyte Corporation will post 6.65 earnings per share for the current year.

Insider Buying and Selling at Incyte

In other news, insider Pablo J. Cagnoni sold 18,667 shares of the company’s stock in a transaction on 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 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 transaction was disclosed in a document filed 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 company insiders.

Analyst Ratings Changes

Several research firms recently commented on INCY. Weiss Ratings upgraded shares of Incyte from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, April 1st. Citigroup reiterated a “market perform” rating on shares of Incyte in a research report on Tuesday. Jefferies Financial Group downgraded shares of Incyte from a “buy” rating to a “hold” rating and reduced their price target for the company from $120.00 to $94.00 in a research report on Monday, March 16th. UBS Group reduced their price target on shares of Incyte from $104.00 to $94.00 and set a “neutral” rating for the company in a research report on Wednesday, March 25th. Finally, Stifel Nicolaus upped their price target on shares of Incyte from $120.00 to $123.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $104.00.

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.