Ieq Capital LLC Has $51.87 Million Stock Position in Incyte Corporation $INCY

Ieq Capital LLC increased its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 6.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 525,172 shares of the biopharmaceutical company’s stock after purchasing an additional 30,103 shares during the period. Ieq Capital LLC owned approximately 0.26% of Incyte worth $51,871,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in INCY. Norges Bank acquired a new stake in Incyte during the fourth quarter worth approximately $122,893,000. Caisse de depot et placement du Quebec grew its stake in Incyte by 264.5% during the third quarter. Caisse de depot et placement du Quebec now owns 1,498,013 shares of the biopharmaceutical company’s stock worth $127,046,000 after purchasing an additional 1,087,091 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Incyte by 5,218.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 596,840 shares of the biopharmaceutical company’s stock worth $58,950,000 after purchasing an additional 585,618 shares during the period. Man Group plc boosted its holdings in Incyte by 52.8% in the second quarter. Man Group plc now owns 1,610,670 shares of the biopharmaceutical company’s stock worth $109,687,000 after acquiring an additional 556,243 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its holdings in Incyte by 9,739.1% in the second quarter. Squarepoint Ops LLC now owns 558,171 shares of the biopharmaceutical company’s stock worth $38,011,000 after acquiring an additional 552,498 shares in the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insider Buying and Selling at Incyte

In other news, insider Pablo J. Cagnoni sold 18,667 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $96.50, for a total value of $1,801,365.50. Following the transaction, the insider owned 262,692 shares in the company, valued at $25,349,778. This trade represents a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.20% of the stock is owned by corporate insiders.

Incyte Stock Up 0.6%

Incyte stock opened at $108.53 on Friday. Incyte Corporation has a 1-year low of $66.74 and a 1-year high of $112.29. The company has a current ratio of 3.68, a quick ratio of 3.60 and a debt-to-equity ratio of 0.01. The firm’s fifty day moving average price is $97.78 and its two-hundred day moving average price is $99.18. The firm has a market capitalization of $21.68 billion, a price-to-earnings ratio of 15.33, a price-to-earnings-growth ratio of 1.05 and a beta of 0.79.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.43. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the company earned $1.16 earnings per share. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. On average, equities research analysts predict that Incyte Corporation will post 6.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on INCY. Jefferies Financial Group lowered Incyte from a “buy” rating to a “hold” rating and cut their price target for the stock from $120.00 to $94.00 in a report on Monday, March 16th. Wall Street Zen lowered Incyte from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 14th. Stifel Nicolaus set a $123.00 price target on shares of Incyte in a research note on Tuesday. TD Cowen restated a “hold” rating on shares of Incyte in a research note on Tuesday. Finally, Citigroup reaffirmed a “market perform” rating on shares of Incyte in a research note on Tuesday, June 2nd. Eight analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $105.10.

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.