Pacer Advisors Inc. lifted its position in shares of Incyte Corporation (NASDAQ:INCY – Free Report) by 36.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,703,271 shares of the biopharmaceutical company’s stock after buying an additional 454,629 shares during the period. Pacer Advisors Inc.’s holdings in Incyte were worth $168,232,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of INCY. AustralianSuper Pty Ltd acquired a new position in Incyte in the 3rd quarter worth $18,085,000. Nordea Investment Management AB grew its stake in shares of Incyte by 941.8% during the fourth quarter. Nordea Investment Management AB now owns 322,223 shares of the biopharmaceutical company’s stock valued at $31,874,000 after acquiring an additional 291,293 shares in the last quarter. Toth Financial Advisory Corp acquired a new stake in shares of Incyte during the fourth quarter valued at about $1,213,000. Fairvoy Private Wealth LLC increased its position in shares of Incyte by 468.8% during the fourth quarter. Fairvoy Private Wealth LLC now owns 30,169 shares of the biopharmaceutical company’s stock worth $2,980,000 after acquiring an additional 24,865 shares during the last quarter. Finally, Citigroup Inc. increased its position in shares of Incyte by 187.1% during the third quarter. Citigroup Inc. now owns 560,028 shares of the biopharmaceutical company’s stock worth $47,496,000 after acquiring an additional 364,946 shares during the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.
Analyst Ratings Changes
A number of research analysts recently commented on the company. Weiss Ratings raised Incyte from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, April 1st. Citigroup restated a “market perform” rating on shares of Incyte in a report on Tuesday, June 2nd. Barclays reaffirmed an “overweight” rating on shares of Incyte in a research report on Tuesday, March 24th. BMO Capital Markets reissued an “underperform” rating on shares of Incyte in a research report on Monday. Finally, Stifel Nicolaus set a $123.00 price target on shares of Incyte in a research note on Tuesday, June 9th. Eight analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $105.10.
Insider Buying and Selling at Incyte
In related news, insider Pablo J. Cagnoni sold 18,667 shares of the company’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 transaction of $1,801,365.50. Following the sale, the insider directly owned 262,692 shares of the company’s stock, valued at approximately $25,349,778. This represents a 6.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 16.20% of the company’s stock.
Incyte Stock Down 0.8%
NASDAQ:INCY opened at $98.22 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 capitalization of $19.62 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 0.96 and a beta of 0.79. Incyte Corporation has a one year low of $66.74 and a one year high of $112.29. The stock has a 50-day simple moving average of $98.15 and a 200 day simple moving average of $98.97.
Incyte (NASDAQ:INCY – Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $1.22 billion. During the same quarter in the prior year, the firm posted $1.16 earnings per share. Incyte’s revenue for the quarter was up 20.9% compared to the same quarter last year. Sell-side analysts predict that Incyte Corporation will post 6.64 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.
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