Sector Gamma AS Buys 13,669 Shares of Incyte Corporation $INCY

Sector Gamma AS grew its stake in Incyte Corporation (NASDAQ:INCY) by 6.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 218,783 shares of the biopharmaceutical company’s stock after purchasing an additional 13,669 shares during the quarter. Incyte makes up 4.9% of Sector Gamma AS’s holdings, making the stock its 6th biggest position. Sector Gamma AS owned about 0.11% of Incyte worth $21,609,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Geode Capital Management LLC lifted its stake in shares of Incyte by 11.3% in the fourth 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 in the last quarter. LSV Asset Management lifted its stake in shares of Incyte by 3.2% in the third quarter. LSV Asset Management now owns 3,986,097 shares of the biopharmaceutical company’s stock worth $338,061,000 after buying an additional 124,266 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Incyte by 13.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 3,103,946 shares of the biopharmaceutical company’s stock worth $263,246,000 after buying an additional 373,298 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of Incyte by 7.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,480,793 shares of the biopharmaceutical company’s stock worth $245,028,000 after buying an additional 161,405 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in shares of Incyte by 30.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 2,288,874 shares of the biopharmaceutical company’s stock worth $211,927,000 after buying an additional 527,703 shares in the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on INCY. Jefferies Financial Group downgraded shares of Incyte from a “buy” rating to a “hold” rating and decreased their price target for the stock from $120.00 to $94.00 in a research note on Monday, March 16th. Wall Street Zen downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 14th. Weiss Ratings raised shares of Incyte from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, April 1st. Oppenheimer reissued a “market perform” rating and issued a $107.00 price target on shares of Incyte in a research note on Monday. Finally, Citigroup reissued a “market perform” rating on shares of Incyte in a research note on Tuesday, June 2nd. Eight equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $105.10.

Insider Buying and Selling

In other news, insider Pablo J. Cagnoni sold 18,667 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $96.50, for a total value of $1,801,365.50. Following the sale, the insider directly owned 262,692 shares of the company’s stock, valued at approximately $25,349,778. The trade was a 6.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.20% of the stock is owned by company insiders.

Incyte Price Performance

Shares of INCY stock opened at $107.83 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.68 and a quick ratio of 3.60. The firm’s 50-day moving average is $97.49 and its two-hundred day moving average is $99.11. Incyte Corporation has a 12 month low of $66.74 and a 12 month high of $112.29. The company has a market capitalization of $21.54 billion, a PE ratio of 15.23, a price-to-earnings-growth ratio of 1.02 and a beta of 0.79.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.43. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the firm earned $1.16 earnings per share. Incyte’s quarterly revenue was up 20.9% compared to the same quarter last year. Analysts predict that Incyte Corporation will post 6.64 earnings per share for the current year.

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.