Stevens Capital Management LP Has $377,000 Stake in Incyte Corporation $INCY

Stevens Capital Management LP reduced its stake in shares of Incyte Corporation (NASDAQ:INCY) by 59.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,447 shares of the biopharmaceutical company’s stock after selling 6,645 shares during the quarter. Stevens Capital Management LP’s holdings in Incyte were worth $377,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the stock. Bank of Nova Scotia boosted its stake in shares of Incyte by 0.7% during the 2nd quarter. Bank of Nova Scotia now owns 17,041 shares of the biopharmaceutical company’s stock valued at $1,160,000 after buying an additional 124 shares during the period. MAI Capital Management raised its holdings in shares of Incyte by 19.9% during the second quarter. MAI Capital Management now owns 754 shares of the biopharmaceutical company’s stock worth $51,000 after acquiring an additional 125 shares in the last quarter. Atlantic Edge Private Wealth Management LLC boosted its position in Incyte by 0.9% during the third quarter. Atlantic Edge Private Wealth Management LLC now owns 14,556 shares of the biopharmaceutical company’s stock valued at $1,235,000 after purchasing an additional 125 shares during the last quarter. E Fund Management Co. Ltd. grew its stake in Incyte by 0.8% in the second quarter. E Fund Management Co. Ltd. now owns 19,912 shares of the biopharmaceutical company’s stock valued at $1,356,000 after purchasing an additional 158 shares in the last quarter. Finally, Wealthfront Advisers LLC increased its position in Incyte by 2.4% in the 2nd quarter. Wealthfront Advisers LLC now owns 7,366 shares of the biopharmaceutical company’s stock worth $502,000 after purchasing an additional 171 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Price Performance

NASDAQ INCY opened at $101.32 on Friday. The company 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. Incyte Corporation has a 1 year low of $53.56 and a 1 year high of $112.29. The company has a current ratio of 3.32, a quick ratio of 3.25 and a debt-to-equity ratio of 0.01. The company has a fifty day simple moving average of $102.32 and a 200 day simple moving average of $95.06.

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

Insiders Place Their Bets

In other news, EVP Mohamed Khairie Issa sold 10,856 shares of the stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $109.07, for a total value of $1,184,063.92. Following the completion of the sale, the executive vice president directly owned 66,132 shares of the company’s stock, valued at approximately $7,213,017.24. This represents a 14.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael James Morrissey sold 4,323 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $97.26, for a total transaction of $420,454.98. Following the completion of the sale, the executive vice president owned 27,507 shares in the company, valued at approximately $2,675,330.82. The trade was a 13.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 95,225 shares of company stock worth $9,519,745 in the last 90 days. 17.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

INCY has been the subject of several recent research reports. Wall Street Zen cut Incyte from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 14th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Incyte in a research note on Thursday, January 22nd. Wells Fargo & Company decreased their target price on shares of Incyte from $107.00 to $101.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 11th. Barclays raised their price target on shares of Incyte from $116.00 to $117.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Stifel Nicolaus lifted their price objective on shares of Incyte from $119.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Nine analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Incyte currently has an average rating of “Hold” and a consensus price target of $104.00.

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.