Jefferies Financial Group Inc. Makes New Investment in Incyte Corporation $INCY

Jefferies Financial Group Inc. acquired a new position in Incyte Corporation (NASDAQ:INCY) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 152,799 shares of the biopharmaceutical company’s stock, valued at approximately $17,321,000.

Several other institutional investors have also recently modified their holdings of the company. Fiduciary Financial Advisors bought a new stake in Incyte in the 2nd quarter worth approximately $26,000. Elyxium Wealth LLC bought a new position in Incyte during the fourth quarter valued at approximately $28,000. Smithfield Trust Co grew its position 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 last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Incyte during the fourth quarter worth approximately $35,000. Finally, Atlas Capital Advisors Inc. purchased a new position in shares of Incyte during the fourth quarter worth approximately $35,000. 96.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

INCY has been the subject of a number of research reports. Wall Street Zen cut shares of Incyte from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Mizuho lifted their target price on shares of Incyte from $121.00 to $137.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 4th. Royal Bank Of Canada boosted their price target on shares of Incyte from $99.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 29th. JPMorgan Chase & Co. upped their price target on shares of Incyte from $105.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday, July 23rd. Finally, Stifel Nicolaus set a $145.00 price objective on Incyte in a research note on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $123.10.

Incyte Price Performance

INCY stock opened at $127.74 on Friday. Incyte Corporation has a 1 year low of $81.09 and a 1 year high of $132.60. The firm has a 50-day moving average of $118.47 and a 200 day moving average of $104.88. The company has a market cap of $25.89 billion, a P/E ratio of 16.27, a PEG ratio of 4.02 and a beta of 0.76.

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

Insider Buying and Selling

In other Incyte news, EVP Patrick A. Mayes sold 41,899 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $119.46, for a total value of $5,005,254.54. Following the completion of the transaction, the executive vice president owned 61,441 shares in the company, valued at approximately $7,339,741.86. This represents a 40.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Pablo J. Cagnoni sold 10,801 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $125.56, for a total value of $1,356,173.56. Following the completion of the transaction, the insider owned 183,200 shares of the company’s stock, valued at approximately $23,002,592. This trade represents a 5.57% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company 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.