Incyte Corporation $INCY Shares Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd boosted its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 644.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,833 shares of the biopharmaceutical company’s stock after acquiring an additional 41,410 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Incyte were worth $4,502,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Elyxium Wealth LLC acquired a new position in shares of Incyte during the 4th quarter worth approximately $28,000. Smithfield Trust Co increased its holdings in shares of Incyte by 135.0% in the fourth quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 162 shares during the last quarter. Atlas Capital Advisors Inc. acquired a new stake in shares of Incyte in the fourth quarter valued at approximately $35,000. University of Texas Texas AM Investment Management Co. purchased a new position in Incyte during the fourth quarter worth approximately $35,000. Finally, Leonteq Securities AG purchased a new position in Incyte during the fourth quarter worth approximately $35,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insiders Place Their Bets

In related news, insider Pablo J. Cagnoni sold 18,667 shares of the company’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 transaction of $1,801,365.50. Following the sale, the insider directly owned 262,692 shares of the company’s stock, valued at $25,349,778. This represents a 6.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.20% of the stock is currently owned by insiders.

Incyte Stock Performance

Shares of Incyte stock opened at $116.86 on Monday. The stock has a market capitalization of $23.35 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 1.07 and a beta of 0.76. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.68 and a quick ratio of 3.60. The business has a 50-day moving average of $101.13 and a 200 day moving average of $99.86. Incyte Corporation has a 12 month low of $66.85 and a 12 month high of $118.69.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.43. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the prior year, the company earned $1.16 earnings per share. The business’s quarterly revenue was up 20.9% on a year-over-year basis. As a group, sell-side analysts forecast that Incyte Corporation will post 6.61 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. HC Wainwright restated a “buy” rating and issued a $140.00 target price on shares of Incyte in a report on Wednesday, June 24th. Citigroup reiterated a “market perform” rating on shares of Incyte in a report on Tuesday, June 2nd. Sanford C. Bernstein began coverage on shares of Incyte in a research report on Thursday, May 21st. They set a “market perform” rating and a $99.00 price target on the stock. Jefferies Financial Group lowered shares of Incyte from a “buy” rating to a “hold” rating and dropped their price objective for the company from $120.00 to $94.00 in a report on Monday, March 16th. Finally, Barclays restated an “overweight” rating on shares of Incyte in a research report on Tuesday, March 24th. Eight equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $107.85.

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.