BI Asset Management Fondsmaeglerselskab A S Purchases 142,913 Shares of Incyte Corporation $INCY

BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Incyte Corporation (NASDAQ:INCY) by 1,265.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,209 shares of the biopharmaceutical company’s stock after buying an additional 142,913 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Incyte were worth $15,231,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its holdings in Incyte by 11.3% during the 4th quarter. Geode Capital Management LLC now owns 4,993,012 shares of the biopharmaceutical company’s stock valued at $491,500,000 after buying an additional 506,842 shares in the last quarter. LSV Asset Management raised its holdings in shares of Incyte by 3.2% in the 3rd quarter. LSV Asset Management now owns 3,986,097 shares of the biopharmaceutical company’s stock valued at $338,061,000 after purchasing an additional 124,266 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Incyte by 13.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,103,946 shares of the biopharmaceutical company’s stock valued at $263,246,000 after purchasing an additional 373,298 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Incyte by 7.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,480,793 shares of the biopharmaceutical company’s stock valued at $245,028,000 after purchasing an additional 161,405 shares in the last quarter. Finally, Man Group plc raised its holdings in shares of Incyte by 20.0% in the 3rd quarter. Man Group plc now owns 1,933,547 shares of the biopharmaceutical company’s stock valued at $163,984,000 after purchasing an additional 322,877 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on INCY. Royal Bank Of Canada cut their price objective on shares of Incyte from $95.00 to $92.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 11th. UBS Group cut their price objective on shares of Incyte from $104.00 to $94.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 25th. Weiss Ratings raised shares of Incyte from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, April 1st. HC Wainwright reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Incyte in a research report on Thursday, May 21st. Finally, Morgan Stanley set a $102.00 price objective on shares of Incyte in a research report on Wednesday, February 11th. Nine investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $104.00.

Incyte Trading Up 1.1%

Shares of Incyte stock opened at $102.38 on Friday. The company has a current ratio of 3.68, a quick ratio of 3.60 and a debt-to-equity ratio of 0.01. Incyte Corporation has a 12-month low of $66.74 and a 12-month high of $112.29. The firm has a market capitalization of $20.45 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 0.99 and a beta of 0.79. The firm’s 50 day simple moving average is $96.49 and its two-hundred day simple moving average is $99.09.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.43. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the business posted $1.16 EPS. Incyte’s revenue for the quarter was up 20.9% compared to the same quarter last year. Analysts predict that Incyte Corporation will post 6.65 EPS for the current year.

Insider Activity at Incyte

In other news, insider Pablo J. Cagnoni sold 18,667 shares of the company’s stock in a transaction on 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 sale, the insider directly owned 262,692 shares of the company’s stock, valued at $25,349,778. This represents a 6.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.20% of the stock is owned by company insiders.

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.