Incyte Corporation $INCY Stock Position Lowered by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. decreased its position in Incyte Corporation (NASDAQ:INCY) by 7.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 143,304 shares of the biopharmaceutical company’s stock after selling 11,779 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Incyte were worth $12,154,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Incyte by 0.7% during the second quarter. Vanguard Group Inc. now owns 20,135,393 shares of the biopharmaceutical company’s stock worth $1,371,220,000 after acquiring an additional 137,570 shares during the period. AQR Capital Management LLC raised its position in Incyte by 21.8% in the second quarter. AQR Capital Management LLC now owns 8,201,455 shares of the biopharmaceutical company’s stock worth $558,519,000 after acquiring an additional 1,465,286 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Incyte by 3.3% in the 2nd quarter. Geode Capital Management LLC now owns 4,347,731 shares of the biopharmaceutical company’s stock valued at $294,899,000 after acquiring an additional 139,740 shares during the last quarter. LSV Asset Management lifted its holdings in Incyte by 3.2% in the 3rd quarter. LSV Asset Management now owns 3,986,097 shares of the biopharmaceutical company’s stock valued at $338,061,000 after acquiring an additional 124,266 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Incyte by 7.3% during the 2nd quarter. Invesco Ltd. now owns 3,401,018 shares of the biopharmaceutical company’s stock valued at $231,609,000 after purchasing an additional 232,268 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on INCY shares. Truist Financial set a $103.00 price objective on shares of Incyte in a research note on Wednesday, December 24th. Wall Street Zen lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 14th. Weiss Ratings upgraded shares of Incyte from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. TD Cowen reaffirmed a “buy” rating on shares of Incyte in a report on Tuesday, January 13th. Finally, Stifel Nicolaus increased their price objective on Incyte from $119.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Ten equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $104.00.

Incyte Stock Performance

Shares of INCY opened at $95.94 on Monday. The company has a 50-day moving average of $102.28 and a two-hundred day moving average of $96.32. The stock has a market cap of $19.09 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 0.76 and a beta of 0.84. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.32 and a quick ratio of 3.25. Incyte Corporation has a one year low of $53.56 and a one year high of $112.29.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, February 10th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.16). Incyte had a net margin of 25.03% and a return on equity of 26.34%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the prior year, the firm earned $1.43 EPS. The firm’s revenue was up 27.8% compared to the same quarter last year. On average, equities research analysts expect that Incyte Corporation will post 4.86 earnings per share for the current year.

Insider Buying and Selling at Incyte

In other news, insider Thomas Tray sold 2,774 shares of the firm’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $100.00, for a total value of $277,400.00. Following the completion of the sale, the insider owned 22,973 shares of the company’s stock, valued at $2,297,300. This trade represents a 10.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Michael James Morrissey sold 4,323 shares of Incyte stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $97.26, for a total value of $420,454.98. Following the transaction, the executive vice president owned 27,507 shares in the company, valued at $2,675,330.82. This represents a 13.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 72,561 shares of company stock valued at $7,195,307 in the last three months. 17.80% of the stock is currently owned by company insiders.

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.