Incyte Corporation $INCY Shares Sold by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. decreased its stake in shares of Incyte Corporation (NASDAQ:INCY) by 0.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,283,464 shares of the biopharmaceutical company’s stock after selling 11,362 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Incyte were worth $126,768,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of INCY. Norges Bank acquired a new position in Incyte during the fourth quarter worth approximately $122,893,000. Caisse de depot et placement du Quebec increased its position in Incyte by 264.5% during the third quarter. Caisse de depot et placement du Quebec now owns 1,498,013 shares of the biopharmaceutical company’s stock worth $127,046,000 after purchasing an additional 1,087,091 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Incyte by 5,218.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 596,840 shares of the biopharmaceutical company’s stock worth $58,950,000 after purchasing an additional 585,618 shares during the last quarter. Man Group plc increased its position in Incyte by 52.8% during the second quarter. Man Group plc now owns 1,610,670 shares of the biopharmaceutical company’s stock worth $109,687,000 after purchasing an additional 556,243 shares during the last quarter. Finally, Squarepoint Ops LLC increased its position in Incyte by 9,739.1% during the second quarter. Squarepoint Ops LLC now owns 558,171 shares of the biopharmaceutical company’s stock worth $38,011,000 after purchasing an additional 552,498 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 14th. HC Wainwright reiterated a “buy” rating and set a $135.00 price objective on shares of Incyte in a research note on Thursday, May 21st. Jefferies Financial Group downgraded shares of Incyte from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $120.00 to $94.00 in a research note on Monday, March 16th. Weiss Ratings upgraded shares of Incyte from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, April 1st. Finally, Citigroup reiterated a “market perform” rating on shares of Incyte in a research note on Tuesday, June 2nd. Nine research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Incyte presently has a consensus rating of “Hold” and a consensus target price of $104.85.

More Incyte News

Here are the key news stories impacting Incyte this week:

• Positive Sentiment: Incyte announced a definitive agreement to buy Vega Therapeutics for up to $2 billion, adding a late-stage bleeding-disorder asset to strengthen its hematology pipeline. Article Title
• Positive Sentiment: The deal is part of a broader push to bolster Incyte’s blood-disorder portfolio and diversify growth ahead of looming patent-expiry concerns for its key drug Jakafi. Article Title
• Neutral Sentiment: Multiple reports echoed the transaction and described it as a major biotech M&A move, reinforcing the market’s focus on pipeline expansion rather than operational weakness. Article Title

Incyte Price Performance

INCY opened at $100.64 on Tuesday. The company has a quick ratio of 3.60, a current ratio of 3.68 and a debt-to-equity ratio of 0.01. Incyte Corporation has a 52-week low of $66.74 and a 52-week high of $112.29. The company has a 50 day moving average of $96.66 and a two-hundred day moving average of $99.03. The company has a market cap of $20.11 billion, a P/E ratio of 14.21, a P/E/G ratio of 0.99 and a beta of 0.79.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.43. The company 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%. 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 firm earned $1.16 earnings per share. On average, analysts expect that Incyte Corporation will post 6.65 earnings per share for the current year.

Insider Buying and Selling at Incyte

In other news, insider Pablo J. Cagnoni sold 18,667 shares of the company’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 directly owned 262,692 shares in the company, valued at approximately $25,349,778. This represents a 6.63% decrease in their ownership of the stock. The sale was disclosed in a document filed 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. Company 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.