Thoroughbred Financial Services LLC purchased a new stake in Incyte Corporation (NASDAQ:INCY – Free Report) in the fourth quarter, HoldingsChannel reports. The firm purchased 7,731 shares of the biopharmaceutical company’s stock, valued at approximately $763,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Elyxium Wealth LLC acquired a new stake in shares of Incyte in the fourth quarter valued at approximately $28,000. Smithfield Trust Co increased its holdings in shares of Incyte by 135.0% in the fourth quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 162 shares in the last quarter. MUFG Securities EMEA plc acquired a new stake in shares of Incyte in the second quarter valued at approximately $32,000. CYBER HORNET ETFs LLC acquired a new stake in shares of Incyte in the second quarter valued at approximately $33,000. Finally, Leonteq Securities AG acquired a new stake in shares of Incyte in the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 96.97% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on the stock. Barclays reissued an “overweight” rating on shares of Incyte in a report on Tuesday, March 24th. UBS Group lowered their target price on shares of Incyte from $104.00 to $94.00 and set a “neutral” rating for the company in a report on Wednesday, March 25th. Stifel Nicolaus lifted their target price on shares of Incyte from $120.00 to $123.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Weiss Ratings raised shares of Incyte from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, April 1st. Finally, Oppenheimer lifted their target price on shares of Incyte from $84.00 to $90.00 and gave the stock a “market perform” rating in a report on Wednesday, April 29th. Ten equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $104.00.
Insider Activity
In other news, insider Pablo J. Cagnoni sold 18,667 shares of the business’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $96.50, for a total value of $1,801,365.50. Following the completion of the transaction, the insider owned 262,692 shares of the company’s stock, valued at $25,349,778. The trade was a 6.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.20% of the stock is owned by company insiders.
Incyte Price Performance
Shares of INCY stock opened at $96.74 on Friday. Incyte Corporation has a 12-month low of $63.92 and a 12-month high of $112.29. The firm has a market capitalization of $19.33 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 0.93 and a beta of 0.79. The company has a quick ratio of 3.60, a current ratio of 3.68 and a debt-to-equity ratio of 0.01. The firm has a fifty day moving average of $95.84 and a 200-day moving average of $99.39.
Incyte (NASDAQ:INCY – Get Free Report) last announced its quarterly earnings results 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 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 analyst estimates of $1.22 billion. During the same quarter in the previous year, the business earned $1.16 EPS. The firm’s revenue was up 20.9% on a year-over-year basis. On average, equities research analysts forecast that Incyte Corporation will post 6.74 earnings per share for the current year.
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.
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