Ruffer LLP Has $3.74 Million Holdings in Incyte Corporation $INCY

Ruffer LLP decreased its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 36.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,135 shares of the biopharmaceutical company’s stock after selling 25,190 shares during the quarter. Ruffer LLP’s holdings in Incyte were worth $3,743,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in INCY. denkapparat Operations GmbH lifted its position in shares of Incyte by 46.1% during the 2nd quarter. denkapparat Operations GmbH now owns 11,292 shares of the biopharmaceutical company’s stock valued at $769,000 after acquiring an additional 3,564 shares during the period. Rakuten Investment Management Inc. bought a new stake in Incyte in the third quarter valued at $14,646,000. LBP AM SA raised its holdings in shares of Incyte by 33.6% during the third quarter. LBP AM SA now owns 238,705 shares of the biopharmaceutical company’s stock valued at $20,245,000 after purchasing an additional 59,974 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Incyte by 38.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 387,605 shares of the biopharmaceutical company’s stock worth $32,873,000 after purchasing an additional 108,645 shares in the last quarter. Finally, Callan Family Office LLC acquired a new stake in shares of Incyte in the 2nd quarter valued at about $636,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Incyte Stock Performance

Shares of INCY opened at $101.18 on Thursday. The stock has a 50 day moving average of $101.95 and a 200 day moving average of $91.47. The company has a current ratio of 3.20, a quick ratio of 3.13 and a debt-to-equity ratio of 0.01. Incyte Corporation has a 12 month low of $53.56 and a 12 month high of $112.29. The company has a market capitalization of $19.86 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 0.62 and a beta of 0.82.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, October 28th. The biopharmaceutical company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.61. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Incyte had a return on equity of 26.56% and a net margin of 24.69%.The business’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.07 EPS. As a group, sell-side analysts forecast that Incyte Corporation will post 4.86 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on INCY. Stifel Nicolaus set a $119.00 price target on Incyte in a research note on Monday, January 5th. Morgan Stanley upped their target price on Incyte from $92.00 to $94.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 6th. Truist Financial set a $103.00 price target on shares of Incyte in a research note on Wednesday, December 24th. JPMorgan Chase & Co. raised their price objective on shares of Incyte from $73.00 to $89.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Finally, TD Cowen reissued a “buy” rating on shares of Incyte in a research report on Tuesday, January 13th. Eight equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $100.75.

Insider Transactions at Incyte

In other Incyte news, insider Thomas Tray sold 2,774 shares of the stock in a transaction on Friday, December 19th. The stock was sold at an average price of $100.00, for a total transaction of $277,400.00. Following the completion of the transaction, the insider directly owned 22,973 shares of the company’s stock, valued at approximately $2,297,300. This represents a 10.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Steven H. Stein sold 20,105 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $102.51, for a total value of $2,060,963.55. Following the completion of the sale, the executive vice president directly owned 63,129 shares of the company’s stock, valued at $6,471,353.79. This represents a 24.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 98,897 shares of company stock valued at $9,869,376. Corporate insiders own 17.80% of the company’s stock.

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.