Cwm LLC Grows Stock Holdings in Incyte Corporation $INCY

Cwm LLC grew its position in shares of Incyte Corporation (NASDAQ:INCY) by 49.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 196,472 shares of the biopharmaceutical company’s stock after buying an additional 65,292 shares during the quarter. Cwm LLC’s holdings in Incyte were worth $16,663,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Bank of Nova Scotia raised its position in 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 purchasing an additional 124 shares during the last quarter. MAI Capital Management increased its stake in shares of Incyte by 19.9% during the second quarter. MAI Capital Management now owns 754 shares of the biopharmaceutical company’s stock valued at $51,000 after buying an additional 125 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Incyte by 1.7% during the second quarter. Assenagon Asset Management S.A. now owns 8,993 shares of the biopharmaceutical company’s stock valued at $612,000 after acquiring an additional 147 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Incyte by 10.1% during the second quarter. Farther Finance Advisors LLC now owns 1,706 shares of the biopharmaceutical company’s stock valued at $116,000 after acquiring an additional 156 shares in the last quarter. Finally, E Fund Management Co. Ltd. lifted 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 worth $1,356,000 after acquiring an additional 158 shares during the period. 96.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Zacks Research downgraded shares of Incyte from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Morgan Stanley lifted their target price on shares of Incyte from $86.00 to $92.00 and gave the company an “equal weight” rating in a research note on Monday, December 8th. JPMorgan Chase & Co. increased their price target on shares of Incyte from $73.00 to $89.00 and gave the stock a “neutral” rating in a research note on Thursday, October 9th. Oppenheimer lowered shares of Incyte from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 8th. Finally, Mizuho set a $121.00 target price on Incyte and gave the stock an “outperform” rating in a report on Monday, December 8th. Eight investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $99.79.

Insider Buying and Selling at Incyte

In other news, EVP Lee Heeson sold 3,074 shares of Incyte stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $94.02, for a total value of $289,017.48. Following the completion of the transaction, the executive vice president owned 29,241 shares of the company’s stock, valued at $2,749,238.82. The trade was a 9.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Tray sold 2,774 shares of the company’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $100.00, for a total transaction of $277,400.00. Following the completion of the transaction, the insider owned 22,973 shares in the company, valued at approximately $2,297,300. The trade was a 10.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 88,318 shares of company stock valued at $8,708,893 in the last ninety days. Corporate insiders own 17.80% of the company’s stock.

Incyte Trading Down 0.3%

NASDAQ:INCY opened at $100.11 on Friday. The firm has a market capitalization of $19.65 billion, a P/E ratio of 16.77, a PEG ratio of 0.68 and a beta of 0.81. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.20 and a quick ratio of 3.13. Incyte Corporation has a one year low of $53.56 and a one year high of $109.28. The company’s 50-day simple moving average is $99.59 and its 200 day simple moving average is $85.84.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, October 28th. The biopharmaceutical company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.61. Incyte had a net margin of 24.69% and a return on equity of 26.56%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period last year, the business earned $1.07 earnings per share. The business’s revenue was up 20.0% on a year-over-year basis. As a group, analysts forecast that Incyte Corporation will post 4.86 EPS 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.