VCI Wealth Management LLC Buys New Holdings in Incyte Corporation $INCY

VCI Wealth Management LLC purchased a new position in shares of Incyte Corporation (NASDAQ:INCY) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 10,299 shares of the biopharmaceutical company’s stock, valued at approximately $969,000.

A number of other institutional investors have also recently bought and sold shares of the business. Elyxium Wealth LLC bought a new stake in Incyte in the fourth quarter valued at approximately $28,000. Smithfield Trust Co boosted its stake 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. MUFG Securities EMEA plc bought a new position in shares of Incyte during the 2nd quarter worth approximately $32,000. CYBER HORNET ETFs LLC acquired a new position in shares of Incyte during the 2nd quarter worth approximately $33,000. Finally, Leonteq Securities AG acquired a new position in shares of Incyte during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insider Buying and Selling at Incyte

In other news, insider Pablo J. Cagnoni sold 18,667 shares of the company’s 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 sale, the insider directly owned 262,692 shares in the company, valued at approximately $25,349,778. This represents a 6.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 16.20% of the company’s stock.

Incyte Stock Up 5.8%

NASDAQ INCY opened at $113.75 on Friday. The company has a current ratio of 3.68, a quick ratio of 3.60 and a debt-to-equity ratio of 0.01. Incyte Corporation has a 1-year low of $66.83 and a 1-year high of $115.56. The company has a 50 day moving average of $99.28 and a 200-day moving average of $99.17. The company has a market cap of $22.72 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 1.05 and a beta of 0.79.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.43. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the business posted $1.16 earnings per share. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. On average, equities research analysts expect that Incyte Corporation will post 6.61 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on INCY. UBS Group increased their price objective on shares of Incyte from $103.00 to $113.00 and gave the company a “neutral” rating in a research report on Friday. Oppenheimer reaffirmed a “market perform” rating and set a $107.00 target price on shares of Incyte in a report on Monday, June 8th. Jefferies Financial Group lowered shares of Incyte from a “buy” rating to a “hold” rating and decreased their price target for the company from $120.00 to $94.00 in a research note on Monday, March 16th. BMO Capital Markets upgraded shares of Incyte from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $75.00 to $94.00 in a research report on Monday. Finally, TD Cowen restated a “hold” rating on shares of Incyte in a report on Tuesday, June 9th. Eight equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $107.85.

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.