Jefferies Financial Group Inc. Cuts Stake in Incyte Corporation $INCY

Jefferies Financial Group Inc. lowered its position in shares of Incyte Corporation (NASDAQ:INCY) by 24.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 108,942 shares of the biopharmaceutical company’s stock after selling 34,362 shares during the period. Jefferies Financial Group Inc.’s holdings in Incyte were worth $10,760,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Root Financial Partners LLC acquired a new stake in Incyte in the third quarter valued at $28,000. Elyxium Wealth LLC acquired a new stake in Incyte in the fourth quarter valued at $28,000. MUFG Securities EMEA plc acquired a new stake in Incyte in the second quarter valued at $32,000. CYBER HORNET ETFs LLC acquired a new stake in Incyte in the second quarter valued at $33,000. Finally, Leonteq Securities AG acquired a new stake in Incyte in the fourth quarter valued at $35,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on INCY shares. UBS Group reduced their target price on Incyte from $104.00 to $94.00 and set a “neutral” rating for the company in a report on Wednesday, March 25th. Piper Sandler raised their target price on Incyte from $102.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, February 6th. Royal Bank Of Canada reduced their target price on Incyte from $95.00 to $92.00 and set a “sector perform” rating for the company in a report on Wednesday, February 11th. Sanford C. Bernstein started coverage on Incyte in a report on Thursday. They issued a “market perform” rating and a $99.00 target price for the company. Finally, Wall Street Zen downgraded Incyte from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 14th. Ten investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $104.00.

Incyte Stock Performance

NASDAQ:INCY opened at $97.16 on Monday. The company has a market capitalization of $19.41 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 0.93 and a beta of 0.79. The company has a quick ratio of 3.60, a current ratio of 3.68 and a debt-to-equity ratio of 0.01. Incyte Corporation has a 52-week low of $63.51 and a 52-week high of $112.29. The stock has a fifty day simple moving average of $95.41 and a 200-day simple moving average of $99.62.

Incyte (NASDAQ:INCY) last released its quarterly 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. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.22 billion. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The business’s revenue was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.16 EPS. On average, equities research analysts expect that Incyte Corporation will post 6.74 earnings per share for the current fiscal year.

Insider Activity

In other 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 transaction of $1,801,365.50. Following the completion of the transaction, the insider owned 262,692 shares of the company’s stock, valued at $25,349,778. The trade was a 6.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.20% of the stock is owned by company 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.