National Pension Service Grows Stock Holdings in Incyte Corporation $INCY

National Pension Service boosted its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 151.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 46,479 shares of the biopharmaceutical company’s stock after purchasing an additional 27,984 shares during the quarter. National Pension Service’s holdings in Incyte were worth $4,591,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. raised its stake in Incyte by 116.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 24,345 shares of the biopharmaceutical company’s stock valued at $2,405,000 after purchasing an additional 13,123 shares in the last quarter. Intech Investment Management LLC raised its stake in Incyte by 25.4% during the fourth quarter. Intech Investment Management LLC now owns 63,269 shares of the biopharmaceutical company’s stock valued at $6,249,000 after purchasing an additional 12,816 shares in the last quarter. Thoroughbred Financial Services LLC purchased a new stake in Incyte during the fourth quarter valued at $763,000. Geode Capital Management LLC raised its stake in Incyte by 11.3% during the fourth quarter. Geode Capital Management LLC now owns 4,993,012 shares of the biopharmaceutical company’s stock valued at $491,500,000 after purchasing an additional 506,842 shares in the last quarter. Finally, Smithfield Trust Co raised its stake in Incyte by 135.0% during the fourth quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 162 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Trading Down 1.2%

NASDAQ INCY opened at $95.59 on Tuesday. The company’s 50-day moving average price is $95.89 and its 200-day moving average price is $99.25. The company has a current ratio of 3.68, a quick ratio of 3.60 and a debt-to-equity ratio of 0.01. The stock has a market cap of $19.10 billion, a PE ratio of 13.50, 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.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.43. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the prior year, the business earned $1.16 EPS. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. Equities research analysts forecast that Incyte Corporation will post 6.74 earnings per share for the current year.

Insider Transactions at Incyte

In other Incyte news, insider Pablo J. Cagnoni sold 18,667 shares of the stock in a transaction dated 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 in the company, valued at $25,349,778. This represents a 6.63% decrease in their position. The sale was disclosed in a legal 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 currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on INCY shares. Oppenheimer upped their price target on shares of Incyte from $84.00 to $90.00 and gave the company a “market perform” rating in a research note on Wednesday, April 29th. Wall Street Zen downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 14th. Barclays reissued an “overweight” rating on shares of Incyte in a research note on Tuesday, March 24th. Citigroup reissued a “market perform” rating on shares of Incyte in a research note on Tuesday. Finally, Stifel Nicolaus raised their price objective on shares of Incyte from $120.00 to $123.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $104.00.

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.