Incyte Corporation $INCY Stake Cut by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. cut its position in shares of Incyte Corporation (NASDAQ:INCY) by 70.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 48,581 shares of the biopharmaceutical company’s stock after selling 117,976 shares during the period. Jupiter Asset Management Ltd.’s holdings in Incyte were worth $4,798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in INCY. Elyxium Wealth LLC bought a new position in Incyte during the fourth quarter worth $28,000. Smithfield Trust Co lifted its stake in Incyte by 135.0% in the fourth quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 162 shares during the last quarter. MUFG Securities EMEA plc bought a new stake in Incyte in the second quarter valued at $32,000. CYBER HORNET ETFs LLC bought a new stake in Incyte in the second quarter valued at $33,000. Finally, Leonteq Securities AG bought a new stake in Incyte in the fourth quarter valued at $35,000. 96.97% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Incyte news, insider Pablo J. Cagnoni sold 18,667 shares of Incyte stock in a transaction dated 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 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 legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 16.20% of the company’s stock.

Incyte Price Performance

Shares of NASDAQ INCY opened at $96.74 on Friday. Incyte Corporation has a fifty-two week low of $63.92 and a fifty-two week high of $112.29. The firm’s 50-day simple moving average is $95.84 and its 200 day simple moving average is $99.39. 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 stock has a market cap of $19.33 billion, a P/E ratio of 13.66, a P/E/G ratio of 0.93 and a beta of 0.79.

Incyte (NASDAQ:INCY) last released its 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. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.22 billion. Incyte had a return on equity of 26.66% and a net margin of 26.71%.Incyte’s revenue was up 20.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.16 earnings per share. Equities analysts expect that Incyte Corporation will post 6.74 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on INCY shares. Oppenheimer raised their target price on Incyte from $84.00 to $90.00 and gave the company a “market perform” rating in a research note on Wednesday, April 29th. Wells Fargo & Company cut their target price on Incyte from $107.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 11th. UBS Group cut their target price on Incyte from $104.00 to $94.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 25th. Weiss Ratings upgraded shares of Incyte from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, April 1st. Finally, Morgan Stanley set a $102.00 price objective on shares of Incyte in a research note on Wednesday, February 11th. Ten analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $104.00.

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.