Ruffer LLP Sells 25,190 Shares of Incyte Corporation $INCY

Ruffer LLP cut its holdings in Incyte Corporation (NASDAQ:INCY) by 36.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 44,135 shares of the biopharmaceutical company’s stock after selling 25,190 shares during the period. Ruffer LLP’s holdings in Incyte were worth $3,743,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. denkapparat Operations GmbH grew its position in shares of Incyte by 46.1% in the second quarter. denkapparat Operations GmbH now owns 11,292 shares of the biopharmaceutical company’s stock valued at $769,000 after purchasing an additional 3,564 shares in the last quarter. Rakuten Investment Management Inc. bought a new position in shares of Incyte in the third quarter worth $14,646,000. LBP AM SA raised its position in shares of Incyte by 33.6% in the third quarter. LBP AM SA now owns 238,705 shares of the biopharmaceutical company’s stock worth $20,245,000 after buying an additional 59,974 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Incyte by 38.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 387,605 shares of the biopharmaceutical company’s stock worth $32,873,000 after buying an additional 108,645 shares in the last quarter. Finally, Callan Family Office LLC bought a new stake in Incyte during the second quarter valued at $636,000. Institutional investors own 96.97% of the company’s stock.

Insider Buying and Selling at Incyte

In related news, EVP Lee Heeson sold 3,074 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $94.02, for a total transaction of $289,017.48. Following the transaction, the executive vice president owned 29,241 shares in the company, valued at $2,749,238.82. The trade was a 9.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven H. Stein sold 20,105 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $102.51, for a total transaction of $2,060,963.55. Following the completion of the sale, the executive vice president owned 63,129 shares of the company’s stock, valued at $6,471,353.79. This trade represents a 24.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 98,897 shares of company stock worth $9,869,376. 17.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Barclays lifted their target price on shares of Incyte from $101.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, November 24th. Zacks Research lowered shares of Incyte from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Stifel Nicolaus set a $119.00 price target on Incyte in a research note on Monday, January 5th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $90.00 price objective on shares of Incyte in a report on Thursday, January 8th. Finally, Oppenheimer cut Incyte from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $100.75.

Incyte Stock Performance

Shares of NASDAQ:INCY opened at $101.18 on Thursday. The company has a current ratio of 3.20, a quick ratio of 3.13 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $101.95 and a 200-day moving average price of $91.47. The company has a market cap of $19.86 billion, a price-to-earnings ratio of 16.95, a price-to-earnings-growth ratio of 0.62 and a beta of 0.82. Incyte Corporation has a 12 month low of $53.56 and a 12 month high of $112.29.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, October 28th. The biopharmaceutical company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.61. Incyte had a return on equity of 26.56% and a net margin of 24.69%.The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the company earned $1.07 EPS. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. As a group, equities analysts anticipate that Incyte Corporation will post 4.86 EPS for the current year.

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.