SG Americas Securities LLC Has $26.84 Million Stock Holdings in Incyte Corporation $INCY

SG Americas Securities LLC grew its position in Incyte Corporation (NASDAQ:INCY) by 52.7% during the first quarter, HoldingsChannel reports. The firm owned 285,152 shares of the biopharmaceutical company’s stock after buying an additional 98,362 shares during the quarter. SG Americas Securities LLC’s holdings in Incyte were worth $26,839,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Elyxium Wealth LLC acquired a new position in Incyte in the 4th quarter valued at $28,000. Smithfield Trust Co lifted its position in 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 last quarter. University of Texas Texas AM Investment Management Co. acquired a new position in Incyte during the 4th quarter worth $35,000. Atlas Capital Advisors Inc. bought a new stake in Incyte during the fourth quarter valued at about $35,000. Finally, Leonteq Securities AG bought a new stake in Incyte during the fourth quarter valued at about $35,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related 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 value of $1,801,365.50. Following the completion of the transaction, the insider directly owned 262,692 shares in the company, valued at approximately $25,349,778. This represents a 6.63% decrease in their ownership of the stock. The sale was disclosed in a document filed 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.

Analyst Ratings Changes

A number of research firms have recently commented on INCY. Barclays reiterated an “overweight” rating on shares of Incyte in a research note on Tuesday, March 24th. UBS Group decreased their target price on Incyte from $104.00 to $94.00 and set a “neutral” rating for the company in a research note on Wednesday, March 25th. Stifel Nicolaus set a $123.00 price target on Incyte in a research report on Tuesday, June 9th. Oppenheimer reiterated a “market perform” rating and set a $107.00 price target on shares of Incyte in a report on Monday, June 8th. Finally, TD Cowen reissued a “hold” rating on shares of Incyte in a research report on Tuesday, June 9th. Eight investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $106.90.

Incyte Stock Up 3.9%

Shares of INCY opened at $108.46 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.60 and a current ratio of 3.68. The company has a 50-day simple moving average of $98.75 and a 200-day simple moving average of $99.04. Incyte Corporation has a 52 week low of $66.83 and a 52 week high of $112.29. The firm has a market capitalization of $21.67 billion, a P/E ratio of 15.32, a P/E/G ratio of 1.01 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, beating the consensus estimate 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%.The company’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.16 earnings per share. On average, equities research analysts expect that Incyte Corporation will post 6.66 earnings per share for the current year.

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.