Incyte Corporation $INCY Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. lifted its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 36.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,703,271 shares of the biopharmaceutical company’s stock after buying an additional 454,629 shares during the period. Pacer Advisors Inc. owned about 0.86% of Incyte worth $168,232,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Elyxium Wealth LLC purchased a new position in Incyte in the fourth quarter worth $28,000. Smithfield Trust Co boosted its position in shares of Incyte by 135.0% during the 4th quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 162 shares in the last quarter. Atlas Capital Advisors Inc. purchased a new stake in shares of Incyte during the 4th quarter worth $35,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of Incyte during the 4th quarter worth $35,000. Finally, Leonteq Securities AG acquired a new position in shares of Incyte during the 4th quarter worth $35,000. 96.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Pablo J. Cagnoni sold 18,667 shares of the 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 in the company, valued at approximately $25,349,778. This represents a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 16.20% of the company’s stock.

Incyte Stock Down 0.8%

Shares of NASDAQ INCY opened at $98.22 on Friday. Incyte Corporation has a 1 year low of $66.74 and a 1 year high of $112.29. The firm’s 50 day moving average price is $98.15 and its 200 day moving average price is $98.97. The firm has a market cap of $19.62 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 0.96 and a beta of 0.79. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.60 and a current ratio of 3.68.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, topping 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 in the prior year, the company posted $1.16 EPS. The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Incyte Corporation will post 6.64 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently commented on INCY shares. BMO Capital Markets reiterated an “underperform” rating on shares of Incyte in a research note on Monday. Citigroup restated a “market perform” rating on shares of Incyte in a research report on Tuesday, June 2nd. Oppenheimer reaffirmed a “market perform” rating and issued a $107.00 target price on shares of Incyte in a report on Monday, June 8th. Barclays reissued an “overweight” rating on shares of Incyte in a research note on Tuesday, March 24th. Finally, Jefferies Financial Group cut Incyte from a “buy” rating to a “hold” rating and lowered their price target for the stock from $120.00 to $94.00 in a report on Monday, March 16th. Eight equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.