Incyte Corporation $INCY Holdings Raised by Sector Gamma AS

Sector Gamma AS grew its stake in Incyte Corporation (NASDAQ:INCY) by 6.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 218,783 shares of the biopharmaceutical company’s stock after acquiring an additional 13,669 shares during the period. Incyte comprises 4.9% of Sector Gamma AS’s investment portfolio, making the stock its 6th biggest holding. Sector Gamma AS’s holdings in Incyte were worth $21,609,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in INCY. NewEdge Advisors LLC raised its stake in shares of 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 acquiring an additional 9,913 shares during the period. Jones Financial Companies Lllp raised its stake in shares of 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 acquiring an additional 648 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of 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 acquiring an additional 48,751 shares during the period. United Services Automobile Association purchased a new stake in shares of Incyte in the 1st quarter valued at approximately $219,000. Finally, Focus Partners Wealth grew its holdings in shares of Incyte by 74.1% in the first quarter. Focus Partners Wealth now owns 21,024 shares of the biopharmaceutical company’s stock valued at $1,273,000 after purchasing an additional 8,951 shares in the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Trading Up 2.3%

NASDAQ INCY opened at $107.83 on Friday. 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 stock has a market capitalization of $21.54 billion, a PE ratio of 15.23, a price-to-earnings-growth ratio of 1.02 and a beta of 0.79. The firm has a 50 day moving average of $97.49 and a two-hundred day moving average of $99.11.

Incyte (NASDAQ:INCY) last posted 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. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the previous year, the business posted $1.16 EPS. The firm’s revenue was up 20.9% on a year-over-year basis. As a group, research analysts expect that Incyte Corporation will post 6.64 EPS 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 shares were sold at an average price of $96.50, for a total transaction of $1,801,365.50. Following the completion of the transaction, the insider owned 262,692 shares in the company, valued at $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 available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

INCY has been the subject of a number of research reports. TD Cowen restated a “hold” rating on shares of Incyte in a report on Tuesday. Weiss Ratings upgraded shares of Incyte from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, April 1st. Stifel Nicolaus set a $123.00 price objective on shares of Incyte in a report on Tuesday. Oppenheimer restated a “market perform” rating and issued a $107.00 price objective on shares of Incyte in a report on Monday. Finally, Sanford C. Bernstein initiated coverage on shares of Incyte in a report on Thursday, May 21st. They issued a “market perform” rating and a $99.00 price objective for the company. Eight investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $105.10.

Incyte 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.