Incyte Corporation $INCY Stock Holdings Lifted by Geode Capital Management LLC

Geode Capital Management LLC raised its stake in Incyte Corporation (NASDAQ:INCY) by 11.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,993,012 shares of the biopharmaceutical company’s stock after buying an additional 506,842 shares during the period. Geode Capital Management LLC’s holdings in Incyte were worth $491,500,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of INCY. Smithfield Trust Co raised its stake in Incyte by 135.0% during the 4th quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 162 shares during the period. Allstate Corp grew its holdings in shares of Incyte by 105.7% during the 4th quarter. Allstate Corp now owns 12,047 shares of the biopharmaceutical company’s stock valued at $1,190,000 after acquiring an additional 6,189 shares in the last quarter. Fisher Asset Management LLC boosted its position in Incyte by 103.2% during the fourth quarter. Fisher Asset Management LLC now owns 81,174 shares of the biopharmaceutical company’s stock valued at $8,018,000 after purchasing an additional 41,225 shares during the last quarter. Genus Capital Management Inc. boosted its position in Incyte by 53.4% during the fourth quarter. Genus Capital Management Inc. now owns 43,675 shares of the biopharmaceutical company’s stock valued at $4,314,000 after purchasing an additional 15,210 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its position in Incyte by 54.4% during the fourth quarter. Hantz Financial Services Inc. now owns 522 shares of the biopharmaceutical company’s stock valued at $52,000 after purchasing an additional 184 shares during the last quarter. Institutional investors own 96.97% of the company’s stock.

Incyte Stock Performance

Incyte stock opened at $96.74 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.68 and a quick ratio of 3.60. The company has a market capitalization of $19.33 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 0.93 and a beta of 0.79. Incyte Corporation has a one year low of $63.92 and a one year high of $112.29. The company’s fifty day moving average price is $95.84 and its two-hundred day moving average price is $99.34.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.38 by $0.43. The firm 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 business’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.16 earnings per share. On average, analysts forecast that Incyte Corporation will post 6.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Sanford C. Bernstein assumed coverage on Incyte in a research report on Thursday, May 21st. They set a “market perform” rating and a $99.00 price objective for the company. Wells Fargo & Company reduced their price objective on Incyte from $107.00 to $101.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 11th. Citigroup reissued a “buy” rating on shares of Incyte in a research report on Thursday, May 21st. HC Wainwright reissued a “buy” rating and set a $135.00 price objective on shares of Incyte in a research report on Thursday, May 21st. Finally, Stifel Nicolaus lifted their price objective on Incyte from $120.00 to $123.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Ten analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $104.00.

Insider Buying and Selling

In other Incyte news, insider Pablo J. Cagnoni sold 18,667 shares of the stock in a transaction on Friday, April 17th. The shares were sold at an average price of $96.50, for a total transaction of $1,801,365.50. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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 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.