Incyte Corporation $INCY Shares Sold by RFG Advisory LLC

RFG Advisory LLC lessened its position in shares of Incyte Corporation (NASDAQ:INCY) by 68.4% during the first quarter, HoldingsChannel reports. The institutional investor owned 2,675 shares of the biopharmaceutical company’s stock after selling 5,791 shares during the quarter. RFG Advisory LLC’s holdings in Incyte were worth $252,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INCY. AustralianSuper Pty Ltd purchased a new stake in shares of Incyte in the third quarter valued at about $18,085,000. Nordea Investment Management AB increased its position in Incyte by 941.8% in the 4th quarter. Nordea Investment Management AB now owns 322,223 shares of the biopharmaceutical company’s stock valued at $31,874,000 after acquiring an additional 291,293 shares during the period. Toth Financial Advisory Corp purchased a new stake in Incyte during the 4th quarter valued at approximately $1,213,000. Fairvoy Private Wealth LLC lifted its position in Incyte by 468.8% during the 4th quarter. Fairvoy Private Wealth LLC now owns 30,169 shares of the biopharmaceutical company’s stock worth $2,980,000 after acquiring an additional 24,865 shares during the period. Finally, Swiss Life Asset Management Ltd grew its stake in shares of Incyte by 180.8% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 85,480 shares of the biopharmaceutical company’s stock valued at $7,250,000 after purchasing an additional 55,039 shares during the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Insider Activity at Incyte

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 transaction, the insider owned 262,692 shares of the company’s stock, valued at approximately $25,349,778. This represents a 6.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

INCY has been the topic of a number of recent research reports. Stifel Nicolaus set a $123.00 target price on Incyte in a report on Tuesday, June 9th. Barclays reiterated an “overweight” rating on shares of Incyte in a research report on Tuesday, March 24th. Sanford C. Bernstein assumed coverage on shares of Incyte in a research note on Thursday, May 21st. They issued a “market perform” rating and a $99.00 price objective on the stock. TD Cowen restated a “hold” rating on shares of Incyte in a research report on Tuesday, June 9th. Finally, Citigroup restated a “market perform” rating on shares of Incyte in a research note on Tuesday, June 2nd. Eight investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $107.85.

Incyte Stock Performance

NASDAQ:INCY opened at $113.81 on Thursday. The firm’s fifty day simple moving average is $100.32 and its 200-day simple moving average is $99.58. The company has a quick ratio of 3.60, a current ratio of 3.68 and a debt-to-equity ratio of 0.01. The stock has a market cap of $22.74 billion, a PE ratio of 16.07, a price-to-earnings-growth ratio of 1.03 and a beta of 0.75. Incyte Corporation has a fifty-two week low of $66.85 and a fifty-two week high of $116.00.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 EPS for the quarter, beating 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 firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter last year, the business earned $1.16 earnings per share. The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. Analysts expect that Incyte Corporation will post 6.61 earnings per share for the current fiscal year.

Incyte 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.