Sfmg LLC Purchases 2,325 Shares of Incyte Co. (NASDAQ:INCY)

Sfmg LLC increased its position in Incyte Co. (NASDAQ:INCY) by 9.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,545 shares of the biopharmaceutical company’s stock after buying an additional 2,325 shares during the period. Sfmg LLC’s holdings in Incyte were worth $2,405,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in INCY. Massachusetts Financial Services Co. MA lifted its position in shares of Incyte by 217.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 477,984 shares of the biopharmaceutical company’s stock worth $35,481,000 after buying an additional 327,456 shares during the last quarter. Pictet Asset Management Ltd. raised its stake in shares of Incyte by 12.6% in the 3rd quarter. Pictet Asset Management Ltd. now owns 1,878,190 shares of the biopharmaceutical company’s stock valued at $139,418,000 after acquiring an additional 209,772 shares in the last quarter. Mackay Shields LLC raised its stake in shares of Incyte by 357.1% in the 3rd quarter. Mackay Shields LLC now owns 264,392 shares of the biopharmaceutical company’s stock valued at $19,626,000 after acquiring an additional 206,552 shares in the last quarter. Millennium Management LLC lifted its holdings in Incyte by 270.1% in the 3rd quarter. Millennium Management LLC now owns 275,860 shares of the biopharmaceutical company’s stock worth $20,477,000 after purchasing an additional 201,321 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in Incyte in the 4th quarter worth approximately $11,214,000. Hedge funds and other institutional investors own 91.06% of the company’s stock.

In related news, EVP Barry P. Flannelly sold 2,142 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $90.00, for a total transaction of $192,780.00. Following the transaction, the executive vice president now directly owns 17,401 shares in the company, valued at $1,566,090. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul Trower sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $93.76, for a total value of $1,406,400.00. Over the last three months, insiders sold 44,642 shares of company stock valued at $4,147,155. Insiders own 17.10% of the company’s stock.

Several equities analysts have commented on the company. Oppenheimer lowered their price target on Incyte from $100.00 to $96.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Royal Bank of Canada restated a “hold” rating and issued a $80.00 price objective on shares of Incyte in a research note on Thursday, January 30th. JPMorgan Chase & Co. restated a “buy” rating on shares of Incyte in a research note on Tuesday, January 14th. Morgan Stanley decreased their price objective on shares of Incyte from $89.00 to $83.00 and set an “equal weight” rating for the company in a report on Monday, January 6th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $95.00 target price on shares of Incyte in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $91.45.

NASDAQ:INCY traded down $1.67 during trading hours on Monday, hitting $74.14. 843,000 shares of the company traded hands, compared to its average volume of 1,603,246. The company has a current ratio of 5.02, a quick ratio of 5.01 and a debt-to-equity ratio of 0.02. Incyte Co. has a twelve month low of $71.84 and a twelve month high of $96.79. The firm has a 50-day moving average of $80.36 and a 200 day moving average of $82.23. The stock has a market capitalization of $15.97 billion, a price-to-earnings ratio of 40.37, a P/E/G ratio of 0.83 and a beta of 1.06.

About Incyte

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

Further Reading: Dividend Aristocrat Index

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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