Intech Investment Management LLC Has $6.25 Million Position in Incyte Corporation $INCY

Intech Investment Management LLC raised its stake in shares of Incyte Corporation (NASDAQ:INCY) by 25.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,269 shares of the biopharmaceutical company’s stock after buying an additional 12,816 shares during the quarter. Intech Investment Management LLC’s holdings in Incyte were worth $6,249,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of INCY. Elyxium Wealth LLC acquired a new position in shares of Incyte during the 4th quarter worth about $28,000. Smithfield Trust Co grew its position in shares of Incyte by 135.0% during the 4th quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 162 shares during the period. MUFG Securities EMEA plc acquired a new position in shares of Incyte during the 2nd quarter worth about $32,000. CYBER HORNET ETFs LLC acquired a new position in shares of Incyte during the 2nd quarter worth about $33,000. Finally, Leonteq Securities AG acquired a new position in shares of Incyte during the 4th quarter worth about $35,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

INCY has been the topic of several recent analyst reports. Royal Bank Of Canada cut their price objective on Incyte from $95.00 to $92.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 11th. Citigroup reiterated a “buy” rating on shares of Incyte in a report on Thursday, May 21st. HC Wainwright reiterated a “buy” rating and set a $135.00 price objective on shares of Incyte in a report on Thursday, May 21st. Piper Sandler lifted their price objective on Incyte from $102.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, February 6th. Finally, Stifel Nicolaus lifted their price objective on Incyte from $120.00 to $123.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Ten equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $104.00.

Incyte Trading Down 0.8%

NASDAQ INCY opened at $96.74 on Friday. The stock has a market capitalization of $19.33 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 0.93 and a beta of 0.79. The stock’s 50 day moving average price is $95.84 and its two-hundred day moving average price is $99.39. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.60 and a current ratio of 3.68. Incyte Corporation has a 52 week low of $63.92 and a 52 week high of $112.29.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.38 by $0.43. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The business’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.16 EPS. As a group, analysts anticipate that Incyte Corporation will post 6.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Incyte 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 value of $1,801,365.50. Following the sale, the insider owned 262,692 shares in the company, 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 this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 16.20% of the company’s stock.

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.