Incyte Corporation $INCY Position Lessened by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. lowered its stake in shares of Incyte Corporation (NASDAQ:INCY) by 7.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 143,304 shares of the biopharmaceutical company’s stock after selling 11,779 shares during the quarter. Jefferies Financial Group Inc. owned approximately 0.07% of Incyte worth $12,154,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new stake in Incyte in the third quarter worth $26,000. Root Financial Partners LLC acquired a new position in shares of Incyte during the third quarter valued at $28,000. Quent Capital LLC acquired a new position in shares of Incyte during the third quarter valued at $30,000. MUFG Securities EMEA plc bought a new position in shares of Incyte during the second quarter worth about $32,000. Finally, CYBER HORNET ETFs LLC bought a new position in shares of Incyte during the second quarter worth about $33,000. 96.97% of the stock is currently owned by institutional investors.

Insider Transactions at Incyte

In related news, EVP Mohamed Khairie Issa sold 10,856 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $109.07, for a total transaction of $1,184,063.92. Following the transaction, the executive vice president owned 66,132 shares in the company, valued at $7,213,017.24. This trade 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 is available through the SEC website. Also, EVP Michael James Morrissey sold 4,323 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president directly 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. In the last three months, insiders sold 72,561 shares of company stock valued at $7,195,307. Company insiders own 17.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on INCY. Piper Sandler lifted their price objective on shares of Incyte from $102.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, February 6th. Weiss Ratings upgraded shares of Incyte from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. HC Wainwright restated a “buy” rating and issued a $135.00 price target on shares of Incyte in a research note on Wednesday, February 11th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $90.00 price target on shares of Incyte in a report on Thursday, January 8th. Finally, Stifel Nicolaus boosted their price objective on Incyte from $119.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. Ten research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $104.00.

Incyte Price Performance

Shares of NASDAQ INCY opened at $95.94 on Monday. The stock has a market cap of $19.09 billion, a P/E ratio of 14.97, a P/E/G ratio of 0.76 and a beta of 0.84. The firm’s 50-day simple moving average is $102.28 and its 200 day simple moving average is $96.32. Incyte Corporation has a fifty-two week low of $53.56 and a fifty-two week high of $112.29. 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 (NASDAQ:INCY) last announced its earnings results on Tuesday, February 10th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.16). The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.35 billion. Incyte had a net margin of 25.03% and a return on equity of 26.34%. The business’s quarterly revenue was up 27.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.43 EPS. Equities analysts expect that Incyte Corporation will post 4.86 EPS for the current 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.