Jefferies Financial Group Inc. Makes New $2.96 Million Investment in Incyte Co. (NASDAQ:INCY)

Jefferies Financial Group Inc. bought a new position in shares of Incyte Co. (NASDAQ:INCY) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 42,777 shares of the biopharmaceutical company’s stock, valued at approximately $2,955,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Retirement Systems of Alabama boosted its holdings in Incyte by 0.4% in the 4th quarter. Retirement Systems of Alabama now owns 34,620 shares of the biopharmaceutical company’s stock worth $2,391,000 after buying an additional 139 shares during the period. Trust Point Inc. boosted its holdings in shares of Incyte by 5.0% in the fourth quarter. Trust Point Inc. now owns 3,282 shares of the biopharmaceutical company’s stock worth $227,000 after acquiring an additional 156 shares during the period. Bank of Nova Scotia boosted its holdings in shares of Incyte by 0.8% in the fourth quarter. Bank of Nova Scotia now owns 21,694 shares of the biopharmaceutical company’s stock worth $1,498,000 after acquiring an additional 171 shares during the period. Mather Group LLC. boosted its holdings in shares of Incyte by 26.4% in the fourth quarter. Mather Group LLC. now owns 828 shares of the biopharmaceutical company’s stock worth $57,000 after acquiring an additional 173 shares during the period. Finally, 180 Wealth Advisors LLC boosted its stake in Incyte by 3.9% in the 4th quarter. 180 Wealth Advisors LLC now owns 5,231 shares of the biopharmaceutical company’s stock worth $361,000 after purchasing an additional 195 shares during the period. Institutional investors own 96.97% of the company’s stock.

Analyst Ratings Changes

INCY has been the subject of several analyst reports. Truist Financial cut their target price on Incyte from $74.00 to $72.00 and set a “hold” rating for the company in a research note on Tuesday, March 18th. Royal Bank of Canada raised their price objective on shares of Incyte from $64.00 to $67.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 30th. Wells Fargo & Company raised their price objective on shares of Incyte from $58.00 to $59.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 30th. Morgan Stanley cut their price target on shares of Incyte from $69.00 to $65.00 and set an “equal weight” rating for the company in a report on Monday, March 24th. Finally, Guggenheim downgraded shares of Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price target for the company. in a report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $73.53.

Insider Transactions at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 19,807 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the completion of the sale, the executive vice president now directly owns 33,567 shares in the company, valued at $2,272,150.23. This represents a 37.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Sheila A. Denton sold 599 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total value of $41,924.01. Following the sale, the executive vice president now owns 25,848 shares of the company’s stock, valued at $1,809,101.52. This represents a 2.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,475 shares of company stock worth $2,424,751. 17.80% of the stock is currently owned by insiders.

Incyte Trading Down 0.1%

Shares of INCY stock opened at $60.81 on Wednesday. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $60.95 and a two-hundred day moving average price of $68.61. Incyte Co. has a 12-month low of $53.56 and a 12-month high of $83.95. The firm has a market cap of $11.77 billion, a P/E ratio of 225.23, a price-to-earnings-growth ratio of 0.41 and a beta of 0.68.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.15. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $996.17 million. Incyte had a return on equity of 0.05% and a net margin of 0.77%. The company’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 earnings per share. Equities analysts anticipate that Incyte Co. will post 4.86 EPS for the current fiscal year.

About Incyte

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.