Savant Capital LLC Cuts Stake in Incyte Corporation $INCY

Savant Capital LLC reduced its stake in Incyte Corporation (NASDAQ:INCY) by 97.7% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,072 shares of the biopharmaceutical company’s stock after selling 89,770 shares during the quarter. Savant Capital LLC’s holdings in Incyte were worth $205,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Intech Investment Management LLC boosted its holdings in shares of Incyte by 25.4% in the 4th quarter. Intech Investment Management LLC now owns 63,269 shares of the biopharmaceutical company’s stock worth $6,249,000 after buying an additional 12,816 shares during the last quarter. Thoroughbred Financial Services LLC purchased a new position in shares of Incyte in the 4th quarter worth about $763,000. Geode Capital Management LLC boosted its holdings in shares of Incyte by 11.3% in the 4th quarter. Geode Capital Management LLC now owns 4,993,012 shares of the biopharmaceutical company’s stock worth $491,500,000 after buying an additional 506,842 shares during the last quarter. Smithfield Trust Co boosted its holdings in shares of Incyte by 135.0% in the 4th quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock worth $28,000 after buying an additional 162 shares during the last quarter. Finally, Allstate Corp boosted its holdings in shares of Incyte by 105.7% in the 4th quarter. Allstate Corp now owns 12,047 shares of the biopharmaceutical company’s stock worth $1,190,000 after buying an additional 6,189 shares during the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Incyte

In other news, insider Pablo J. Cagnoni sold 18,667 shares of the company’s 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 sale, the insider directly owned 262,692 shares in the company, valued at $25,349,778. This represents a 6.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Royal Bank Of Canada cut their price target on shares of Incyte from $95.00 to $92.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 11th. Sanford C. Bernstein assumed coverage on shares of Incyte in a report on Thursday, May 21st. They issued a “market perform” rating and a $99.00 price target on the stock. Wall Street Zen downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 14th. Morgan Stanley set a $102.00 price objective on shares of Incyte in a report on Wednesday, February 11th. Finally, Jefferies Financial Group downgraded shares of Incyte from a “buy” rating to a “hold” rating and dropped their price objective for the company from $120.00 to $94.00 in a report on Monday, March 16th. Nine research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $104.00.

Incyte Price Performance

NASDAQ INCY opened at $102.38 on Monday. The company has a market cap of $20.45 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 0.99 and a beta of 0.79. Incyte Corporation has a 52 week low of $66.74 and a 52 week high of $112.29. 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’s 50-day simple moving average is $96.49 and its two-hundred day simple moving average is $99.06.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.38 by $0.43. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.22 billion. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The company’s revenue was up 20.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.16 earnings per share. Research analysts predict that Incyte Corporation will post 6.65 earnings per share for the current year.

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.