Eurizon Capital SGR S.p.A. Takes $16.24 Million Position in Incyte Corporation $INCY

Eurizon Capital SGR S.p.A. bought a new stake in Incyte Corporation (NASDAQ:INCY) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 164,371 shares of the biopharmaceutical company’s stock, valued at approximately $16,235,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund lifted its stake in shares of Incyte by 0.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 18,870 shares of the biopharmaceutical company’s stock valued at $1,864,000 after purchasing an additional 100 shares during the period. Bank of Nova Scotia lifted its stake in shares of Incyte by 0.7% in 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 period. Perbak Capital Partners LLP lifted its stake in shares of Incyte by 2.5% in the 3rd quarter. Perbak Capital Partners LLP now owns 5,298 shares of the biopharmaceutical company’s stock valued at $449,000 after purchasing an additional 129 shares during the period. Savvy Advisors Inc. lifted its stake in shares of Incyte by 2.6% in the 4th quarter. Savvy Advisors Inc. now owns 5,339 shares of the biopharmaceutical company’s stock valued at $527,000 after purchasing an additional 133 shares during the period. Finally, Haven Capital Group Inc. lifted its stake in shares of Incyte by 0.8% in the 4th quarter. Haven Capital Group Inc. now owns 17,985 shares of the biopharmaceutical company’s stock valued at $1,776,000 after purchasing an additional 144 shares during the period. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Wall Street Analyst Weigh In

INCY has been the subject of a number of research analyst reports. UBS Group lowered their target price on Incyte from $104.00 to $94.00 and set a “neutral” rating for the company in a research note on Wednesday, March 25th. HC Wainwright reiterated a “buy” rating and set a $135.00 price objective on shares of Incyte in a research note on Thursday, May 21st. Sanford C. Bernstein started coverage on Incyte in a research note on Thursday, May 21st. They set a “market perform” rating and a $99.00 price objective for the company. Wells Fargo & Company lowered their price objective on Incyte from $107.00 to $101.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 11th. Finally, Piper Sandler lifted their price objective on Incyte from $102.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, February 6th. Ten research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $104.00.

Insider Activity at Incyte

In other Incyte news, insider Pablo J. Cagnoni sold 18,667 shares of Incyte stock in a transaction on Friday, April 17th. The stock was sold at an average price of $96.50, for a total value of $1,801,365.50. Following the completion of the sale, the insider owned 262,692 shares of the company’s stock, valued at approximately $25,349,778. This trade represents a 6.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 16.20% of the company’s stock.

Incyte Price Performance

Shares of NASDAQ:INCY opened at $96.74 on Monday. The stock has a fifty day simple moving average of $95.84 and a two-hundred day simple moving average of $99.34. The stock 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 12-month low of $63.92 and a 12-month high of $112.29. 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 (NASDAQ:INCY) last announced its quarterly earnings data 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. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.16 earnings per share. On average, research analysts anticipate that Incyte Corporation will post 6.74 earnings per share for the current fiscal year.

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.