Trek Financial LLC Purchases Shares of 5,456 Incyte Corporation $INCY

Trek Financial LLC purchased a new stake in shares of Incyte Corporation (NASDAQ:INCY) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 5,456 shares of the biopharmaceutical company’s stock, valued at approximately $539,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Valeo Financial Advisors LLC raised its position in Incyte by 8.5% during the 4th quarter. Valeo Financial Advisors LLC now owns 3,029 shares of the biopharmaceutical company’s stock valued at $299,000 after purchasing an additional 237 shares during the last quarter. Swiss Life Asset Management Ltd raised its position in shares of Incyte by 12.8% in the 4th quarter. Swiss Life Asset Management Ltd now owns 96,463 shares of the biopharmaceutical company’s stock worth $9,528,000 after acquiring an additional 10,983 shares in the last quarter. Plato Investment Management Ltd lifted its stake in shares of Incyte by 36.8% in the 4th quarter. Plato Investment Management Ltd now owns 12,580 shares of the biopharmaceutical company’s stock valued at $1,249,000 after purchasing an additional 3,383 shares during the period. NewEdge Wealth LLC purchased a new position in shares of Incyte in the 4th quarter valued at approximately $223,000. Finally, Crossmark Global Holdings Inc. lifted its stake in shares of Incyte by 9.4% in the 4th quarter. Crossmark Global Holdings Inc. now owns 80,784 shares of the biopharmaceutical company’s stock valued at $7,979,000 after purchasing an additional 6,964 shares during the period. Institutional investors own 96.97% of the company’s stock.

Analyst Upgrades and Downgrades

INCY has been the subject of a number of research analyst reports. Jefferies Financial Group cut Incyte from a “buy” rating to a “hold” rating and lowered their target price for the company from $120.00 to $94.00 in a research note on Monday, March 16th. Oppenheimer raised their target price on Incyte from $84.00 to $90.00 and gave the company a “market perform” rating in a research note on Wednesday, April 29th. Royal Bank Of Canada lowered their target price on Incyte from $95.00 to $92.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 11th. UBS Group lowered their target price on Incyte from $104.00 to $94.00 and set a “neutral” rating for the company in a research note on Wednesday, March 25th. Finally, Stifel Nicolaus raised their target price on Incyte from $120.00 to $123.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Ten analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $104.26.

Insider Transactions at Incyte

In other Incyte news, insider Pablo J. Cagnoni sold 18,667 shares of Incyte stock in a transaction 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 in the company, valued at approximately $25,349,778. The trade was a 6.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 0.3%

Shares of NASDAQ:INCY opened at $98.82 on Thursday. The stock has a fifty day simple moving average of $95.46 and a two-hundred day simple moving average of $99.47. The stock has a market capitalization of $19.74 billion, a price-to-earnings ratio of 13.96, a PEG ratio of 0.93 and a beta of 0.79. Incyte Corporation has a 12-month low of $59.15 and a 12-month high of $112.29. 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 (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.43. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.16 earnings per share. On average, research analysts anticipate that Incyte Corporation will post 6.73 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.