Genus Capital Management Inc. Acquires 15,210 Shares of Incyte Corporation $INCY

Genus Capital Management Inc. raised its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 53.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 43,675 shares of the biopharmaceutical company’s stock after buying an additional 15,210 shares during the period. Genus Capital Management Inc.’s holdings in Incyte were worth $4,314,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of INCY. Caisse de depot et placement du Quebec increased its stake in Incyte by 264.5% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,498,013 shares of the biopharmaceutical company’s stock valued at $127,046,000 after purchasing an additional 1,087,091 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Incyte by 5,218.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 596,840 shares of the biopharmaceutical company’s stock worth $58,950,000 after acquiring an additional 585,618 shares in the last quarter. Man Group plc grew its stake in shares of Incyte by 52.8% in the 2nd quarter. Man Group plc now owns 1,610,670 shares of the biopharmaceutical company’s stock worth $109,687,000 after acquiring an additional 556,243 shares in the last quarter. Squarepoint Ops LLC grew its stake in shares of Incyte by 9,739.1% in the 2nd quarter. Squarepoint Ops LLC now owns 558,171 shares of the biopharmaceutical company’s stock worth $38,011,000 after acquiring an additional 552,498 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in shares of Incyte by 1,346.2% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 571,234 shares of the biopharmaceutical company’s stock worth $48,446,000 after acquiring an additional 531,734 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.

Incyte Price Performance

Shares of NASDAQ:INCY opened at $97.16 on Monday. The company’s 50-day moving average is $95.41 and its 200 day moving average is $99.62. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.60 and a current ratio of 3.68. The company has a market capitalization of $19.41 billion, a P/E ratio of 13.72, a price-to-earnings-growth ratio of 0.93 and a beta of 0.79. Incyte Corporation has a fifty-two week low of $63.51 and a fifty-two week high of $112.29.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.43. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.22 billion. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.16 EPS. On average, equities research analysts forecast that Incyte Corporation will post 6.74 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on INCY shares. Morgan Stanley set a $102.00 target price on shares of Incyte in a research note on Wednesday, February 11th. Barclays reiterated an “overweight” rating on shares of Incyte in a research note on Tuesday, March 24th. Royal Bank Of Canada reduced their target price on shares of Incyte from $95.00 to $92.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 11th. Jefferies Financial Group lowered shares of Incyte from a “buy” rating to a “hold” rating and reduced their target price for the stock from $120.00 to $94.00 in a research note on Monday, March 16th. Finally, HC Wainwright reiterated a “buy” rating and issued a $135.00 target price on shares of Incyte in a research note on Thursday. Ten investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Incyte presently has an average rating of “Hold” and a consensus price target of $104.00.

Insider Buying and Selling at Incyte

In related news, insider Pablo J. Cagnoni sold 18,667 shares of the business’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $96.50, for a total value of $1,801,365.50. Following the transaction, the insider directly owned 262,692 shares of the company’s stock, valued at approximately $25,349,778. The trade was a 6.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 16.20% of the company’s stock.

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.