Sanctuary Advisors LLC Reduces Holdings in Incyte Corporation $INCY

Sanctuary Advisors LLC reduced its position in Incyte Corporation (NASDAQ:INCY) by 49.7% in the 1st quarter, Holdings Channel reports. The firm owned 16,090 shares of the biopharmaceutical company’s stock after selling 15,868 shares during the period. Sanctuary Advisors LLC’s holdings in Incyte were worth $1,514,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Toth Financial Advisory Corp bought a new stake in shares of Incyte in the 4th quarter valued at $1,213,000. Fairvoy Private Wealth LLC boosted its stake in Incyte by 468.8% during the fourth 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 in the last quarter. SG Americas Securities LLC grew its holdings in Incyte by 627.8% in the fourth quarter. SG Americas Securities LLC now owns 186,790 shares of the biopharmaceutical company’s stock worth $18,449,000 after purchasing an additional 161,124 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Incyte by 11.5% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 210,097 shares of the biopharmaceutical company’s stock valued at $20,719,000 after purchasing an additional 21,735 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Incyte by 5,218.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 596,840 shares of the biopharmaceutical company’s stock valued at $58,950,000 after purchasing an additional 585,618 shares in the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

Incyte Price Performance

INCY opened at $116.69 on Friday. The company has a market capitalization of $23.31 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 1.05 and a beta of 0.76. 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 firm has a 50-day moving average price of $106.38 and a 200-day moving average price of $101.52. Incyte Corporation has a twelve month low of $69.69 and a twelve month high of $119.60.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.43. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Incyte had a net margin of 26.71% and a return on equity of 26.66%. Incyte’s revenue was up 20.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.16 EPS. Equities analysts expect that Incyte Corporation will post 6.61 EPS for the current year.

Wall Street Analysts Forecast Growth

INCY has been the topic of a number of research analyst reports. UBS Group increased their price objective on shares of Incyte from $103.00 to $113.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Incyte in a research report on Monday, June 29th. Citigroup reaffirmed a “market perform” rating on shares of Incyte in a research note on Wednesday, July 15th. BMO Capital Markets increased their price target on Incyte from $94.00 to $112.00 and gave the stock a “market perform” rating in a report on Monday, July 13th. Finally, Morgan Stanley raised their price objective on Incyte from $103.00 to $104.00 and gave the company an “equal weight” rating in a research note on Thursday. Eight investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $111.10.

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.