SG Trading Solutions LLC Takes $813,000 Position in Incyte Corporation $INCY

SG Trading Solutions LLC bought a new stake in Incyte Corporation (NASDAQ:INCY) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,230 shares of the biopharmaceutical company’s stock, valued at approximately $813,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Elyxium Wealth LLC bought a new stake in Incyte in the 4th quarter valued at $28,000. Smithfield Trust Co lifted its holdings in shares of Incyte by 135.0% during the 4th quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 162 shares during the period. Atlas Capital Advisors Inc. bought a new position in shares of Incyte during the 4th quarter worth about $35,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of Incyte during the 4th quarter worth about $35,000. Finally, Leonteq Securities AG acquired a new stake in shares of Incyte during the 4th quarter valued at about $35,000. 96.97% of the stock is owned by institutional investors.

Incyte Price Performance

NASDAQ:INCY opened at $98.22 on Friday. The firm has a market cap of $19.62 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 0.96 and a beta of 0.79. Incyte Corporation has a 12 month low of $66.74 and a 12 month high of $112.29. 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’s 50-day moving average price is $98.15 and its two-hundred day moving average price is $98.97.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, topping the consensus estimate 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 company’s revenue was up 20.9% on a year-over-year basis. During the same quarter last year, the business posted $1.16 earnings per share. On average, equities analysts anticipate that Incyte Corporation will post 6.64 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on INCY shares. Oppenheimer reissued a “market perform” rating and issued a $107.00 target price on shares of Incyte in a research note on Monday, June 8th. TD Cowen restated a “hold” rating on shares of Incyte in a research note on Tuesday, June 9th. Sanford C. Bernstein initiated coverage on Incyte in a report on Thursday, May 21st. They set a “market perform” rating and a $99.00 price objective on the stock. UBS Group lowered their price objective on Incyte from $104.00 to $94.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 25th. Finally, Stifel Nicolaus set a $123.00 target price on Incyte in a report on Tuesday, June 9th. Eight equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $105.10.

Insider Activity at Incyte

In related news, insider Pablo J. Cagnoni sold 18,667 shares of the stock in a transaction that occurred 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 sale, 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 transaction 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 owned by insiders.

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.