SG Americas Securities LLC Has $26.84 Million Holdings in Incyte Corporation $INCY

SG Americas Securities LLC raised its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 52.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 285,152 shares of the biopharmaceutical company’s stock after acquiring an additional 98,362 shares during the quarter. SG Americas Securities LLC owned approximately 0.14% of Incyte worth $26,839,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. NewEdge Advisors LLC lifted its position in shares of Incyte by 369.3% in the first quarter. NewEdge Advisors LLC now owns 12,597 shares of the biopharmaceutical company’s stock worth $763,000 after purchasing an additional 9,913 shares in the last quarter. Jones Financial Companies Lllp grew its position in Incyte by 15.1% during the first quarter. Jones Financial Companies Lllp now owns 4,944 shares of the biopharmaceutical company’s stock valued at $299,000 after purchasing an additional 648 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Incyte by 6.4% during the first quarter. Goldman Sachs Group Inc. now owns 814,559 shares of the biopharmaceutical company’s stock valued at $49,322,000 after purchasing an additional 48,751 shares in the last quarter. United Services Automobile Association acquired a new position in Incyte in the 1st quarter valued at approximately $219,000. Finally, Focus Partners Wealth increased its stake in Incyte by 74.1% in the 1st quarter. Focus Partners Wealth now owns 21,024 shares of the biopharmaceutical company’s stock valued at $1,273,000 after buying an additional 8,951 shares during the period. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Stock Performance

INCY stock opened at $108.46 on Thursday. The company has a quick ratio of 3.60, a current ratio of 3.68 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $21.67 billion, a price-to-earnings ratio of 15.32, a P/E/G ratio of 1.01 and a beta of 0.79. Incyte Corporation has a 12 month low of $66.83 and a 12 month high of $112.29. The firm has a 50 day moving average of $98.75 and a two-hundred day moving average of $99.04.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share 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 the consensus estimate of $1.22 billion. During the same quarter last year, the firm earned $1.16 EPS. Incyte’s revenue for the quarter was up 20.9% on a year-over-year basis. As a group, equities analysts anticipate that Incyte Corporation will post 6.66 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

INCY has been the subject of a number of research reports. Sanford C. Bernstein assumed coverage on shares of Incyte in a research note on Thursday, May 21st. They set a “market perform” rating and a $99.00 target price for the company. BMO Capital Markets raised shares of Incyte from an “underperform” rating to a “market perform” rating and upped their price target for the stock from $75.00 to $94.00 in a research note on Monday. Weiss Ratings upgraded Incyte from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, April 1st. Barclays reissued an “overweight” rating on shares of Incyte in a research report on Tuesday, March 24th. Finally, HC Wainwright restated a “buy” rating and issued a $140.00 target price on shares of Incyte in a research note on Wednesday. Eight investment analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $106.90.

Insider Buying and Selling

In other Incyte news, insider Pablo J. Cagnoni sold 18,667 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was 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 in the company, valued at $25,349,778. This trade represents a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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.

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.