LMG Wealth Partners LLC Acquires New Holdings in Incyte Corporation $INCY

LMG Wealth Partners LLC acquired a new stake in Incyte Corporation (NASDAQ:INCY) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 18,125 shares of the biopharmaceutical company’s stock, valued at approximately $1,790,000.

Several other hedge funds have also recently bought and sold shares of the company. PFA Pension Forsikringsaktieselskab bought a new stake in Incyte in the 4th quarter valued at about $1,875,000. Robertson Stephens Wealth Management LLC bought a new stake in Incyte in the 4th quarter valued at about $698,000. Danske Bank A S lifted its position in Incyte by 29.1% in the 4th quarter. Danske Bank A S now owns 107,571 shares of the biopharmaceutical company’s stock valued at $10,625,000 after purchasing an additional 24,278 shares during the last quarter. Mutual Advisors LLC acquired a new position in shares of Incyte during the fourth quarter valued at $227,000. Finally, GenTrust LLC acquired a new position in shares of Incyte during the fourth quarter valued at $234,000. 96.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on INCY shares. Wells Fargo & Company lowered their price target on Incyte from $107.00 to $101.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 11th. Wall Street Zen lowered Incyte from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 14th. Jefferies Financial Group lowered Incyte from a “buy” rating to a “hold” rating and lowered their price target for the company from $120.00 to $94.00 in a report on Monday, March 16th. Royal Bank Of Canada lowered their price target on Incyte from $95.00 to $92.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 11th. Finally, HC Wainwright reissued a “buy” rating and set a $135.00 price target on shares of Incyte in a report on Wednesday, April 15th. Ten investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Incyte currently has an average rating of “Hold” and an average target price of $104.26.

Insider Transactions at Incyte

In related news, insider Pablo J. Cagnoni sold 18,667 shares of Incyte stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $96.50, for a total transaction of $1,801,365.50. Following the transaction, the insider directly owned 262,692 shares of the company’s stock, valued at $25,349,778. The trade was a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.80% of the stock is currently owned by insiders.

Incyte Price Performance

NASDAQ:INCY opened at $96.91 on Friday. The business’s 50-day moving average price is $95.71 and its 200 day moving average price is $98.73. The firm has a market cap of $19.36 billion, a P/E ratio of 13.69, a PEG ratio of 0.93 and a beta of 0.79. Incyte Corporation has a 52-week low of $57.77 and a 52-week high of $112.29. The company has a quick ratio of 3.25, a current ratio of 3.68 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.43. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.22 billion. Incyte had a return on equity of 26.66% and a net margin of 26.71%.Incyte’s revenue was up 20.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.16 earnings per share. As a group, sell-side analysts predict that Incyte Corporation will post 6.5 earnings per share for the current fiscal 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.