Northwestern Mutual Wealth Management Co. Purchases 13,123 Shares of Incyte Corporation $INCY

Northwestern Mutual Wealth Management Co. boosted its position in shares of Incyte Corporation (NASDAQ:INCY) by 116.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,345 shares of the biopharmaceutical company’s stock after acquiring an additional 13,123 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Incyte were worth $2,405,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INCY. Elyxium Wealth LLC bought a new stake in shares of Incyte during the fourth quarter valued at approximately $28,000. Smithfield Trust Co raised its position in shares of Incyte by 135.0% during 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 shares of Incyte during the second quarter valued at approximately $32,000. CYBER HORNET ETFs LLC bought a new stake in shares of Incyte during the second quarter valued at approximately $33,000. Finally, Leonteq Securities AG bought a new stake in shares of Incyte during the fourth quarter valued at approximately $35,000. Institutional investors own 96.97% of the company’s stock.

Insider Buying and Selling

In other Incyte news, insider Pablo J. Cagnoni sold 18,667 shares of Incyte stock in a transaction on Friday, April 17th. The shares were 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 directly owned 262,692 shares of the company’s stock, valued at $25,349,778. The trade was a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 insiders.

Wall Street Analysts Forecast Growth

INCY has been the topic of several recent analyst reports. Oppenheimer lifted their price objective on shares of Incyte from $84.00 to $90.00 and gave the company a “market perform” rating in a research report on Wednesday, April 29th. Piper Sandler lifted their price objective on shares of Incyte from $102.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, February 6th. Citigroup reiterated a “market perform” rating on shares of Incyte in a research report on Tuesday. Wall Street Zen cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 14th. Finally, Wells Fargo & Company reduced their price objective on shares of Incyte from $107.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 11th. Nine equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Incyte presently has an average rating of “Hold” and a consensus price target of $104.00.

Incyte Stock Up 1.1%

NASDAQ INCY opened at $102.38 on Friday. 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 has a fifty day moving average of $96.49 and a two-hundred day moving average of $99.09. The firm has a market capitalization of $20.45 billion, a price-to-earnings ratio of 14.46, a PEG ratio of 0.98 and a beta of 0.79. Incyte Corporation has a 52 week low of $66.74 and a 52 week high of $112.29.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 EPS 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%. Incyte’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.16 earnings per share. On average, analysts predict that Incyte Corporation will post 6.65 earnings per share for the current year.

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.