Two Sigma Securities LLC Has $296,000 Holdings in Incyte Corporation $INCY

Two Sigma Securities LLC trimmed its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 77.8% during the second quarter, Holdings Channel.com reports. The fund owned 2,611 shares of the biopharmaceutical company’s stock after selling 9,161 shares during the quarter. Two Sigma Securities LLC’s holdings in Incyte were worth $296,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of INCY. Northwestern Mutual Wealth Management Co. grew its position in shares of Incyte by 62.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 53,309 shares of the biopharmaceutical company’s stock worth $6,043,000 after purchasing an additional 20,582 shares in the last quarter. Greenleaf Trust raised its position in shares of Incyte by 2.8% in the second quarter. Greenleaf Trust now owns 3,358 shares of the biopharmaceutical company’s stock valued at $381,000 after buying an additional 93 shares in the last quarter. Trustmark Bank Trust Department raised its position in shares of Incyte by 4.8% in the second quarter. Trustmark Bank Trust Department now owns 15,786 shares of the biopharmaceutical company’s stock valued at $1,790,000 after buying an additional 723 shares in the last quarter. New Mexico Educational Retirement Board boosted its stake in shares of Incyte by 10.6% in the second quarter. New Mexico Educational Retirement Board now owns 8,350 shares of the biopharmaceutical company’s stock valued at $947,000 after buying an additional 800 shares during the period. Finally, Toth Financial Advisory Corp grew its position in Incyte by 15.1% during the second quarter. Toth Financial Advisory Corp now owns 15,760 shares of the biopharmaceutical company’s stock worth $1,787,000 after buying an additional 2,065 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on INCY. BMO Capital Markets reaffirmed a “market perform” rating on shares of Incyte in a report on Tuesday. Leerink Partners raised their price target on Incyte from $131.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $104.00 price target on shares of Incyte in a research note on Thursday, August 13th. Stifel Nicolaus set a $145.00 price objective on shares of Incyte in a research report on Tuesday, July 28th. Finally, TD Cowen upgraded shares of Incyte to a “strong-buy” rating in a research note on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, Incyte presently has a consensus rating of “Moderate Buy” and a consensus target price of $124.05.

Incyte Stock Performance

Shares of INCY stock opened at $128.00 on Friday. Incyte Corporation has a fifty-two week low of $81.09 and a fifty-two week high of $132.60. The stock’s fifty day moving average price is $120.61 and its two-hundred day moving average price is $105.72. The company has a market cap of $25.95 billion, a PE ratio of 16.31, a P/E/G ratio of 3.74 and a beta of 0.77.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, July 28th. The biopharmaceutical company reported $3.09 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.94. Incyte had a return on equity of 29.93% and a net margin of 27.71%.The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the previous year, the firm earned $1.57 EPS. Incyte’s revenue was up 37.7% on a year-over-year basis. On average, equities analysts predict that Incyte Corporation will post 2.64 EPS for the current fiscal year.

Insider Transactions at Incyte

In other Incyte news, EVP Patrick Mayes sold 41,899 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $119.46, for a total transaction of $5,005,254.54. Following the completion of the transaction, the executive vice president owned 61,441 shares of the company’s stock, valued at approximately $7,339,741.86. The trade was a 40.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Pablo Cagnoni sold 10,801 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $125.56, for a total transaction of $1,356,173.56. Following the completion of the sale, the insider owned 183,200 shares in the company, valued at approximately $23,002,592. The trade was a 5.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 16.20% of the company’s stock.

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.