Incyte Corporation $INCY Shares Sold by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. cut its stake in shares of Incyte Corporation (NASDAQ:INCY) by 78.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 166,557 shares of the biopharmaceutical company’s stock after selling 591,395 shares during the period. Jupiter Asset Management Ltd.’s holdings in Incyte were worth $14,126,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of INCY. NewEdge Advisors LLC lifted its holdings in shares of Incyte by 369.3% during the first quarter. NewEdge Advisors LLC now owns 12,597 shares of the biopharmaceutical company’s stock worth $763,000 after purchasing an additional 9,913 shares during the period. Jones Financial Companies Lllp raised its position in Incyte by 15.1% during the 1st quarter. Jones Financial Companies Lllp now owns 4,944 shares of the biopharmaceutical company’s stock worth $299,000 after buying an additional 648 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Incyte by 6.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 814,559 shares of the biopharmaceutical company’s stock worth $49,322,000 after acquiring an additional 48,751 shares during the period. United Services Automobile Association purchased a new stake in shares of Incyte in the first quarter valued at about $219,000. Finally, Focus Partners Wealth increased its stake in shares of Incyte by 74.1% during the first quarter. Focus Partners Wealth now owns 21,024 shares of the biopharmaceutical company’s stock worth $1,273,000 after acquiring an additional 8,951 shares during the period. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Royal Bank Of Canada reduced their price objective on shares of Incyte from $95.00 to $92.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 11th. TD Cowen restated a “buy” rating on shares of Incyte in a research note on Tuesday, January 13th. Piper Sandler increased their price objective on Incyte from $102.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. Weiss Ratings restated a “hold (c+)” rating on shares of Incyte in a research report on Thursday, January 22nd. Finally, Guggenheim upgraded shares of Incyte from a “neutral” rating to a “buy” rating and set a $125.00 price target for the company in a report on Monday, November 3rd. Nine analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $104.00.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Steven H. Stein sold 20,105 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $102.51, for a total transaction of $2,060,963.55. Following the sale, the executive vice president owned 63,129 shares in the company, valued at approximately $6,471,353.79. This represents a 24.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael James Morrissey sold 4,323 shares of the business’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $97.26, for a total value of $420,454.98. Following the completion of the transaction, the executive vice president directly owned 27,507 shares of the company’s stock, valued at approximately $2,675,330.82. This trade represents a 13.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 95,225 shares of company stock valued at $9,519,745 over the last three months. Company insiders own 17.80% of the company’s stock.

Incyte Trading Down 0.4%

Shares of INCY stock opened at $101.32 on Friday. The stock has a market cap of $20.16 billion, a P/E ratio of 15.81, a P/E/G ratio of 0.81 and a beta of 0.82. The company has a quick ratio of 3.25, a current ratio of 3.32 and a debt-to-equity ratio of 0.01. Incyte Corporation has a fifty-two week low of $53.56 and a fifty-two week high of $112.29. The business has a fifty day simple moving average of $102.32 and a 200-day simple moving average of $94.94.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, February 10th. The biopharmaceutical company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.96 by ($0.16). Incyte had a return on equity of 26.34% and a net margin of 25.03%.The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the prior year, the firm earned $1.43 earnings per share. Incyte’s quarterly revenue was up 27.8% on a year-over-year basis. On average, analysts forecast that Incyte Corporation will post 4.86 earnings per share for the current fiscal year.

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.