Janney Montgomery Scott LLC Purchases 6,869 Shares of Incyte Corporation $INCY

Janney Montgomery Scott LLC lifted its position in shares of Incyte Corporation (NASDAQ:INCY) by 14.1% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 55,431 shares of the biopharmaceutical company’s stock after buying an additional 6,869 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Incyte were worth $5,217,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of INCY. Geode Capital Management LLC boosted its position in shares of Incyte by 11.3% during the fourth quarter. Geode Capital Management LLC now owns 4,993,012 shares of the biopharmaceutical company’s stock worth $491,500,000 after acquiring an additional 506,842 shares during the last quarter. Invesco Ltd. grew its stake in Incyte by 13.2% during the fourth quarter. Invesco Ltd. now owns 3,473,781 shares of the biopharmaceutical company’s stock valued at $343,105,000 after acquiring an additional 405,611 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in 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 acquiring an additional 373,298 shares during the last quarter. Morgan Stanley lifted its stake in Incyte by 0.9% in the 4th quarter. Morgan Stanley now owns 2,663,823 shares of the biopharmaceutical company’s stock worth $263,106,000 after purchasing an additional 23,087 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in 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 worth $245,028,000 after purchasing an additional 161,405 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Insider Transactions at Incyte

In other news, insider Pablo J. Cagnoni sold 18,667 shares of the business’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 sale, the insider owned 262,692 shares in the company, valued at approximately $25,349,778. The trade was a 6.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 16.20% of the company’s stock.

Incyte Stock Performance

Shares of NASDAQ:INCY opened at $116.86 on Monday. The firm has a market cap of $23.35 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 1.07 and a beta of 0.76. The firm’s 50 day simple moving average is $101.13 and its 200-day simple moving average is $99.86. Incyte Corporation has a one year low of $66.85 and a one year high of $118.69. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.60 and a current ratio of 3.68.

Incyte (NASDAQ:INCY) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $1.22 billion. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.16 earnings per share. As a group, equities analysts predict that Incyte Corporation will post 6.61 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on INCY shares. Sanford C. Bernstein began coverage on shares of Incyte in a research report on Thursday, May 21st. They set a “market perform” rating and a $99.00 price objective for the company. BMO Capital Markets upgraded shares of Incyte from an “underperform” rating to a “market perform” rating and upped their target price for the company from $75.00 to $94.00 in a research report on Monday, June 22nd. TD Cowen reaffirmed a “hold” rating on shares of Incyte in a report on Tuesday, June 9th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Incyte in a research report on Monday, June 29th. Finally, Stifel Nicolaus set a $123.00 price objective on Incyte in a research note on Tuesday, June 9th. Eight analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $107.85.

Incyte Company 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.