Baader Bank Aktiengesellschaft Sells 7,116 Shares of Incyte Corporation $INCY

Baader Bank Aktiengesellschaft reduced its position in shares of Incyte Corporation (NASDAQ:INCY) by 56.3% during the fourth quarter, Holdings Channel reports. The firm owned 5,526 shares of the biopharmaceutical company’s stock after selling 7,116 shares during the period. Baader Bank Aktiengesellschaft’s holdings in Incyte were worth $531,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in INCY. Caisse de depot et placement du Quebec lifted its position in shares of Incyte by 264.5% during the third quarter. Caisse de depot et placement du Quebec now owns 1,498,013 shares of the biopharmaceutical company’s stock valued at $127,046,000 after purchasing an additional 1,087,091 shares in the last quarter. Man Group plc increased its holdings in Incyte by 52.8% during the second quarter. Man Group plc now owns 1,610,670 shares of the biopharmaceutical company’s stock worth $109,687,000 after buying an additional 556,243 shares during the last quarter. Squarepoint Ops LLC increased its holdings in Incyte by 9,739.1% during the second quarter. Squarepoint Ops LLC now owns 558,171 shares of the biopharmaceutical company’s stock worth $38,011,000 after buying an additional 552,498 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its holdings in Incyte by 1,346.2% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 571,234 shares of the biopharmaceutical company’s stock worth $48,446,000 after buying an additional 531,734 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its holdings in Incyte by 59.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,315,666 shares of the biopharmaceutical company’s stock worth $130,145,000 after buying an additional 489,382 shares during the last quarter. 96.97% of the stock is owned by institutional investors.

Incyte Price Performance

Shares of NASDAQ:INCY opened at $95.31 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 firm has a market capitalization of $19.04 billion, a PE ratio of 13.46, a P/E/G ratio of 0.93 and a beta of 0.79. Incyte Corporation has a twelve month low of $62.73 and a twelve month high of $112.29. The company has a 50-day moving average price of $95.38 and a two-hundred day moving average price of $99.49.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.43. The firm 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%. The company’s quarterly revenue was up 20.9% on a year-over-year basis. During the same quarter last year, the business earned $1.16 earnings per share. Equities analysts forecast that Incyte Corporation will post 6.74 EPS for the current year.

Wall Street Analyst Weigh In

INCY has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their price objective on shares of Incyte from $107.00 to $101.00 and set an “equal weight” rating for the company in a report on Wednesday, February 11th. Morgan Stanley set a $102.00 price objective on shares of Incyte in a report on Wednesday, February 11th. Stifel Nicolaus raised their price objective on shares of Incyte from $120.00 to $123.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Barclays restated an “overweight” rating on shares of Incyte in a report on Tuesday, March 24th. Finally, Weiss Ratings upgraded shares of Incyte from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, April 1st. Ten investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $104.26.

Insiders Place Their Bets

In other Incyte news, insider Pablo J. Cagnoni sold 18,667 shares of the stock in a transaction dated 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 owned 262,692 shares in the company, valued at $25,349,778. This trade represents a 6.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.20% of the stock is owned by corporate 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.