RFG Advisory LLC Grows Stake in Incyte Corporation $INCY

RFG Advisory LLC raised its holdings in Incyte Corporation (NASDAQ:INCY) by 190.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,466 shares of the biopharmaceutical company’s stock after buying an additional 5,552 shares during the quarter. RFG Advisory LLC’s holdings in Incyte were worth $836,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. LSV Asset Management increased its position in Incyte by 3.2% during the 3rd quarter. LSV Asset Management now owns 3,986,097 shares of the biopharmaceutical company’s stock valued at $338,061,000 after purchasing an additional 124,266 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Incyte by 13.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,103,946 shares of the biopharmaceutical company’s stock worth $263,246,000 after purchasing an additional 373,298 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in shares of Incyte by 7.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,480,793 shares of the biopharmaceutical company’s stock valued at $245,028,000 after purchasing an additional 161,405 shares in the last quarter. Man Group plc boosted its stake in shares of Incyte by 20.0% during the 3rd quarter. Man Group plc now owns 1,933,547 shares of the biopharmaceutical company’s stock valued at $163,984,000 after purchasing an additional 322,877 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Incyte by 34.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,743,794 shares of the biopharmaceutical company’s stock valued at $147,891,000 after buying an additional 448,911 shares during the period. Institutional investors own 96.97% of the company’s stock.

Insider Buying and Selling at Incyte

In related news, insider Pablo J. Cagnoni sold 18,667 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider owned 262,692 shares of the company’s stock, valued at $25,349,778. This trade represents a 6.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.80% of the stock is owned by insiders.

Incyte Trading Up 0.8%

NASDAQ:INCY opened at $98.56 on Friday. Incyte Corporation has a one year low of $58.94 and a one year high of $112.29. 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 company’s 50-day simple moving average is $95.55 and its 200 day simple moving average is $99.15. The firm has a market capitalization of $19.69 billion, a P/E ratio of 13.92, a PEG ratio of 0.93 and a beta of 0.79.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share 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 business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter last year, the firm earned $1.16 earnings per share. The business’s revenue for the quarter was up 20.9% on a year-over-year basis. As a group, analysts forecast that Incyte Corporation will post 6.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

INCY has been the subject of several research analyst reports. Stifel Nicolaus raised their price objective on shares of Incyte from $120.00 to $123.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Morgan Stanley set a $102.00 target price on Incyte in a report on Wednesday, February 11th. Oppenheimer increased their target price on Incyte from $84.00 to $90.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 29th. Wall Street Zen cut Incyte from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 14th. Finally, Piper Sandler lifted their price target on Incyte from $102.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, February 6th. Ten investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $104.26.

About Incyte

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.