Koss Olinger Consulting LLC Lowers Holdings in Incyte Corporation $INCY

Koss Olinger Consulting LLC decreased its holdings in Incyte Corporation (NASDAQ:INCY) by 49.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,677 shares of the biopharmaceutical company’s stock after selling 21,109 shares during the quarter. Koss Olinger Consulting LLC’s holdings in Incyte were worth $2,141,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in INCY. NewEdge Advisors LLC grew its holdings in Incyte by 369.3% in the 1st quarter. NewEdge Advisors LLC now owns 12,597 shares of the biopharmaceutical company’s stock valued at $763,000 after buying an additional 9,913 shares during the period. Jones Financial Companies Lllp grew its holdings in Incyte by 15.1% in the 1st quarter. Jones Financial Companies Lllp now owns 4,944 shares of the biopharmaceutical company’s stock valued at $299,000 after buying an additional 648 shares during the period. Goldman Sachs Group Inc. grew its holdings in Incyte by 6.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 814,559 shares of the biopharmaceutical company’s stock valued at $49,322,000 after buying an additional 48,751 shares during the period. United Services Automobile Association purchased a new stake in Incyte in the 1st quarter valued at about $219,000. Finally, Focus Partners Wealth grew its holdings in Incyte by 74.1% in the 1st quarter. Focus Partners Wealth now owns 21,024 shares of the biopharmaceutical company’s stock valued at $1,273,000 after buying an additional 8,951 shares during the period. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Analysts Set New Price Targets

INCY has been the subject of several recent analyst reports. Barclays restated an “overweight” rating on shares of Incyte in a report on Tuesday, March 24th. Weiss Ratings raised Incyte from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, April 1st. Wall Street Zen lowered Incyte from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 14th. Royal Bank Of Canada reduced their price objective on Incyte from $95.00 to $92.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 11th. Finally, Morgan Stanley set a $102.00 price objective on Incyte in a research note on Wednesday, February 11th. Ten research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Incyte has an average rating of “Hold” and a consensus target price of $104.00.

Incyte Stock Performance

NASDAQ INCY opened at $96.74 on Friday. The firm has a market capitalization of $19.33 billion, a P/E ratio of 13.66, a P/E/G ratio of 0.93 and a beta of 0.79. Incyte Corporation has a 1-year low of $63.92 and a 1-year high of $112.29. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.68 and a quick ratio of 3.60. The business’s 50-day simple moving average is $95.84 and its 200-day simple moving average is $99.39.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.38 by $0.43. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.22 billion. Incyte had a return on equity of 26.66% and a net margin of 26.71%.Incyte’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.16 EPS. Equities analysts predict that Incyte Corporation will post 6.74 EPS for the current year.

Insider Buying and Selling

In related news, insider Pablo J. Cagnoni sold 18,667 shares of the business’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 transaction, the insider directly owned 262,692 shares of the company’s stock, valued at approximately $25,349,778. The trade was a 6.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 16.20% of the company’s stock.

Incyte Company 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.