9,778 Shares in Incyte Corporation $INCY Purchased by Empirical Asset Management LLC

Empirical Asset Management LLC acquired a new position in shares of Incyte Corporation (NASDAQ:INCY) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 9,778 shares of the biopharmaceutical company’s stock, valued at approximately $966,000.

A number of other large investors have also added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund increased its holdings in Incyte by 0.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 18,870 shares of the biopharmaceutical company’s stock worth $1,864,000 after buying an additional 100 shares during the last quarter. Bank of Nova Scotia increased its holdings in Incyte by 0.7% during the second quarter. Bank of Nova Scotia now owns 17,041 shares of the biopharmaceutical company’s stock worth $1,160,000 after buying an additional 124 shares during the last quarter. Perbak Capital Partners LLP increased its holdings in Incyte by 2.5% during the third quarter. Perbak Capital Partners LLP now owns 5,298 shares of the biopharmaceutical company’s stock worth $449,000 after buying an additional 129 shares during the last quarter. Savvy Advisors Inc. increased its holdings in Incyte by 2.6% during the fourth quarter. Savvy Advisors Inc. now owns 5,339 shares of the biopharmaceutical company’s stock worth $527,000 after buying an additional 133 shares during the last quarter. Finally, Haven Capital Group Inc. increased its stake in shares of Incyte by 0.8% in the fourth quarter. Haven Capital Group Inc. now owns 17,985 shares of the biopharmaceutical company’s stock worth $1,776,000 after purchasing an additional 144 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Price Performance

INCY stock opened at $97.41 on Friday. The firm has a 50 day moving average of $95.36 and a 200-day moving average of $99.66. The company has a current ratio of 3.68, a quick ratio of 3.60 and a debt-to-equity ratio of 0.01. Incyte Corporation has a 12 month low of $63.51 and a 12 month high of $112.29. The firm has a market capitalization of $19.46 billion, a P/E ratio of 13.76, a price-to-earnings-growth ratio of 0.93 and a beta of 0.79.

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

Insider Activity 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 shares were sold at an average price of $96.50, for a total value of $1,801,365.50. Following the completion of the transaction, the insider directly owned 262,692 shares in the company, valued at approximately $25,349,778. This trade represents a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 16.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on INCY. Citigroup reiterated a “buy” rating on shares of Incyte in a research note on Thursday. Barclays reiterated an “overweight” rating on shares of Incyte in a research note on Tuesday, March 24th. Stifel Nicolaus lifted their target price on shares of Incyte from $120.00 to $123.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Oppenheimer lifted their target price on shares of Incyte from $84.00 to $90.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 29th. Finally, HC Wainwright reiterated a “buy” rating and issued a $135.00 target price on shares of Incyte in a research note on Thursday. Ten analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Incyte has a consensus rating of “Hold” and a consensus price target of $104.00.

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.