11,000 Shares in Incyte Corporation $INCY Acquired by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. bought a new stake in shares of Incyte Corporation (NASDAQ:INCY) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,000 shares of the biopharmaceutical company’s stock, valued at approximately $933,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Essex Financial Services Inc. bought a new stake in shares of Incyte in the 3rd quarter valued at $209,000. Syon Capital LLC boosted its position in Incyte by 13.8% during the third quarter. Syon Capital LLC now owns 5,000 shares of the biopharmaceutical company’s stock valued at $424,000 after acquiring an additional 605 shares during the last quarter. NEOS Investment Management LLC grew its holdings in Incyte by 54.0% during the 3rd quarter. NEOS Investment Management LLC now owns 14,044 shares of the biopharmaceutical company’s stock worth $1,191,000 after acquiring an additional 4,927 shares during the period. Rothschild Investment LLC raised its position in shares of Incyte by 1,708.6% in the 3rd quarter. Rothschild Investment LLC now owns 4,431 shares of the biopharmaceutical company’s stock worth $376,000 after acquiring an additional 4,186 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Incyte by 1,346.2% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 571,234 shares of the biopharmaceutical company’s stock valued at $48,446,000 after purchasing an additional 531,734 shares during the period. Institutional investors own 96.97% of the company’s stock.

Insider Buying and Selling at Incyte

In other news, EVP Steven H. Stein sold 20,105 shares of Incyte stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $102.51, for a total value of $2,060,963.55. Following the completion of the transaction, the executive vice president owned 63,129 shares in the company, valued at approximately $6,471,353.79. The trade was a 24.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael James Morrissey sold 4,323 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $97.26, for a total value of $420,454.98. Following the transaction, the executive vice president directly owned 27,507 shares in the company, valued at approximately $2,675,330.82. This represents a 13.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 95,225 shares of company stock valued at $9,519,745. Corporate insiders own 17.80% of the company’s stock.

Wall Street Analysts Forecast Growth

INCY has been the subject of several recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $135.00 target price on shares of Incyte in a research note on Wednesday, February 11th. Wall Street Zen lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 14th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Incyte in a research report on Thursday, January 22nd. Zacks Research cut shares of Incyte from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Finally, TD Cowen reiterated a “buy” rating on shares of Incyte in a report on Tuesday, January 13th. Nine analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $104.00.

Incyte Stock Performance

NASDAQ INCY opened at $100.85 on Tuesday. The stock has a market capitalization of $20.07 billion, a PE ratio of 15.73, a P/E/G ratio of 0.81 and a beta of 0.82. Incyte Corporation has a 1-year low of $53.56 and a 1-year high of $112.29. The business has a 50 day simple moving average of $102.36 and a two-hundred day simple moving average of $95.34. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.32 and a quick ratio of 3.25.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, February 10th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.16). The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Incyte had a net margin of 25.03% and a return on equity of 26.34%. The company’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same period last year, the business posted $1.43 earnings per share. On average, research analysts predict that Incyte Corporation will post 4.86 EPS for the current fiscal year.

Incyte Company 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.