Incyte Corporation $INCY Shares Purchased by Vestcor Inc

Vestcor Inc lifted its holdings in Incyte Corporation (NASDAQ:INCY) by 9.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 127,557 shares of the biopharmaceutical company’s stock after purchasing an additional 10,711 shares during the period. Vestcor Inc owned approximately 0.06% of Incyte worth $12,599,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Elyxium Wealth LLC acquired a new position in Incyte during the 4th quarter worth approximately $28,000. Smithfield Trust Co grew its holdings in 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 acquiring an additional 162 shares in the last quarter. MUFG Securities EMEA plc acquired a new position in Incyte during the 2nd quarter worth approximately $32,000. CYBER HORNET ETFs LLC acquired a new position in Incyte during the 2nd quarter worth approximately $33,000. Finally, Leonteq Securities AG acquired a new position in Incyte during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analyst Ratings Changes

INCY has been the subject of several analyst reports. Stifel Nicolaus boosted their price target on shares of Incyte from $120.00 to $123.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Wall Street Zen cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 14th. Royal Bank Of Canada lowered their price target on shares of Incyte from $95.00 to $92.00 and set a “sector perform” rating for the company in a report on Wednesday, February 11th. Barclays reiterated an “overweight” rating on shares of Incyte in a report on Tuesday, March 24th. Finally, Sanford C. Bernstein initiated coverage on shares of Incyte in a report on Thursday, May 21st. They set a “market perform” rating and a $99.00 price target for the company. Nine equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Incyte currently has a consensus rating of “Hold” and an average price target of $104.00.

Incyte Stock Up 1.1%

Shares of NASDAQ:INCY opened at $102.38 on Friday. The company has a market capitalization of $20.45 billion, a PE ratio of 14.46, a P/E/G ratio of 0.98 and a beta of 0.79. The company has a current ratio of 3.68, a quick ratio of 3.60 and a debt-to-equity ratio of 0.01. Incyte Corporation has a twelve month low of $66.74 and a twelve month high of $112.29. The firm has a 50 day simple moving average of $96.49 and a 200-day simple moving average of $99.09.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.43. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.22 billion. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The company’s revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.16 EPS. On average, equities analysts predict that Incyte Corporation will post 6.65 EPS for the current fiscal year.

Insider Buying and Selling at Incyte

In other news, insider Pablo J. Cagnoni sold 18,667 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $96.50, for a total transaction of $1,801,365.50. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate 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.