7,731 Shares in Incyte Corporation $INCY Bought by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC purchased a new stake in shares of Incyte Corporation (NASDAQ:INCY) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,731 shares of the biopharmaceutical company’s stock, valued at approximately $763,000.

A number of other hedge funds also recently bought and sold shares of INCY. Elyxium Wealth LLC bought a new stake in Incyte during the fourth quarter valued at about $28,000. Smithfield Trust Co boosted its holdings in Incyte by 135.0% during the fourth quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 162 shares during the period. MUFG Securities EMEA plc bought a new stake in Incyte during the second quarter valued at about $32,000. CYBER HORNET ETFs LLC bought a new stake in Incyte during the second quarter valued at about $33,000. Finally, Leonteq Securities AG bought a new stake in Incyte during the fourth quarter valued at about $35,000. 96.97% of the stock is currently owned by institutional investors.

Incyte Stock Performance

NASDAQ:INCY opened at $96.74 on Friday. The firm has a market capitalization of $19.33 billion, a PE ratio of 13.66, a price-to-earnings-growth ratio of 0.93 and a beta of 0.79. The firm has a 50-day moving average price of $95.84 and a 200 day moving average price of $99.39. 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 12-month low of $63.92 and a 12-month high of $112.29.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.43. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.22 billion. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The company’s revenue was up 20.9% on a year-over-year basis. During the same quarter last year, the business posted $1.16 earnings per share. Research analysts anticipate that Incyte Corporation will post 6.74 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Weiss Ratings upgraded shares of Incyte from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, April 1st. Sanford C. Bernstein assumed coverage on shares of Incyte in a report on Thursday, May 21st. They set a “market perform” rating and a $99.00 price target for the company. Barclays restated an “overweight” rating on shares of Incyte in a report on Tuesday, March 24th. Wells Fargo & Company decreased their price target on shares of Incyte from $107.00 to $101.00 and set an “equal weight” rating for the company in a report on Wednesday, February 11th. Finally, Stifel Nicolaus increased their target price on shares of Incyte from $120.00 to $123.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Ten investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $104.00.

Insider Buying and Selling at Incyte

In related news, insider Pablo J. Cagnoni sold 18,667 shares of the firm’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 value of $1,801,365.50. Following the completion of the sale, the insider owned 262,692 shares of the company’s stock, valued at $25,349,778. This trade represents a 6.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.20% of the stock is currently owned by corporate insiders.

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.