Incyte Corporation $INCY Stock Holdings Boosted by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG boosted its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 260.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,341 shares of the biopharmaceutical company’s stock after buying an additional 21,935 shares during the period. J. Safra Sarasin Holding AG’s holdings in Incyte were worth $2,853,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Jacobi Capital Management LLC lifted its position in shares of Incyte by 0.9% in the fourth quarter. Jacobi Capital Management LLC now owns 10,613 shares of the biopharmaceutical company’s stock worth $1,048,000 after purchasing an additional 99 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Incyte by 0.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 18,870 shares of the biopharmaceutical company’s stock valued at $1,864,000 after acquiring an additional 100 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Incyte by 7.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,628 shares of the biopharmaceutical company’s stock worth $161,000 after acquiring an additional 113 shares in the last quarter. Bank of Nova Scotia boosted its position in Incyte by 0.7% during the second quarter. Bank of Nova Scotia now owns 17,041 shares of the biopharmaceutical company’s stock valued at $1,160,000 after purchasing an additional 124 shares during the last quarter. Finally, Perbak Capital Partners LLP increased its position in Incyte by 2.5% in the 3rd quarter. Perbak Capital Partners LLP now owns 5,298 shares of the biopharmaceutical company’s stock worth $449,000 after purchasing an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on INCY. Stifel Nicolaus set a $123.00 price objective on shares of Incyte in a research report on Tuesday, June 9th. TD Cowen reaffirmed a “hold” rating on shares of Incyte in a research report on Tuesday, June 9th. HC Wainwright reissued a “buy” rating and set a $140.00 price objective on shares of Incyte in a report on Wednesday, June 24th. Citigroup reissued a “market perform” rating on shares of Incyte in a research note on Tuesday, June 2nd. Finally, Sanford C. Bernstein began coverage on Incyte in a report on Thursday, May 21st. They set a “market perform” rating and a $99.00 price target on the stock. Eight research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat.com, Incyte currently has an average rating of “Hold” and an average price target of $109.10.

Incyte Stock Down 2.1%

Shares of INCY stock opened at $114.23 on Tuesday. The company has a quick ratio of 3.60, a current ratio of 3.68 and a debt-to-equity ratio of 0.01. Incyte Corporation has a 12 month low of $67.17 and a 12 month high of $118.97. The stock has a 50 day moving average of $103.58 and a 200-day moving average of $100.59. The firm has a market cap of $22.82 billion, a PE ratio of 16.13, a price-to-earnings-growth ratio of 1.07 and a beta of 0.76.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.22 billion. During the same period last year, the business posted $1.16 EPS. The business’s quarterly revenue was up 20.9% on a year-over-year basis. On average, equities analysts predict that Incyte Corporation will post 6.61 EPS for the current year.

Insiders Place Their Bets

In other Incyte news, insider Pablo J. Cagnoni sold 18,667 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider owned 262,692 shares in the company, valued at approximately $25,349,778. This trade represents a 6.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.20% of the stock is currently owned by company insiders.

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.