28,383 Shares in Incyte Corporation $INCY Purchased by Monument Capital Management

Monument Capital Management purchased a new stake in shares of Incyte Corporation (NASDAQ:INCY) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 28,383 shares of the biopharmaceutical company’s stock, valued at approximately $2,803,000.

Several other large investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its stake in shares of Incyte by 181.1% in the fourth quarter. Farther Finance Advisors LLC now owns 5,024 shares of the biopharmaceutical company’s stock valued at $496,000 after purchasing an additional 3,237 shares in the last quarter. Assetmark Inc. boosted its stake in Incyte by 913.3% during the fourth quarter. Assetmark Inc. now owns 19,202 shares of the biopharmaceutical company’s stock worth $1,897,000 after buying an additional 17,307 shares in the last quarter. Transcend Capital Advisors LLC increased its holdings in Incyte by 2.7% in the 4th quarter. Transcend Capital Advisors LLC now owns 8,254 shares of the biopharmaceutical company’s stock valued at $815,000 after buying an additional 216 shares during the period. Burney Co. increased its holdings in Incyte by 33.2% in the 4th quarter. Burney Co. now owns 29,568 shares of the biopharmaceutical company’s stock valued at $2,920,000 after buying an additional 7,368 shares during the period. Finally, Beacon Harbor Wealth Advisors Inc. acquired a new position in shares of Incyte in the 4th quarter valued at $6,723,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insiders Place Their Bets

In other Incyte news, insider Pablo J. Cagnoni sold 18,667 shares of Incyte stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $94.24, for a total value of $1,759,178.08. Following the completion of the transaction, the insider owned 234,800 shares in the company, valued at approximately $22,127,552. The trade was a 7.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 17.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on INCY. UBS Group reduced their price objective on shares of Incyte from $104.00 to $94.00 and set a “neutral” rating for the company in a report on Wednesday, March 25th. Stifel Nicolaus increased their price target on shares of Incyte from $119.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, February 11th. The Goldman Sachs Group restated a “neutral” rating and set a $90.00 price target on shares of Incyte in a research note on Thursday, January 8th. Royal Bank Of Canada dropped their target price on Incyte from $95.00 to $92.00 and set a “sector perform” rating for the company in a report on Wednesday, February 11th. Finally, Jefferies Financial Group downgraded Incyte from a “buy” rating to a “hold” rating and cut their target price for the stock from $120.00 to $94.00 in a research report on Monday, March 16th. Ten research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $104.89.

Incyte Price Performance

NASDAQ:INCY opened at $97.69 on Wednesday. The company has a quick ratio of 3.25, a current ratio of 3.32 and a debt-to-equity ratio of 0.01. The firm has a market cap of $19.44 billion, a PE ratio of 15.24, a price-to-earnings-growth ratio of 0.76 and a beta of 0.85. Incyte Corporation has a 12 month low of $56.13 and a 12 month high of $112.29. The company’s 50-day moving average price is $97.16 and its two-hundred day moving average price is $98.00.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, February 10th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.96 by ($0.16). Incyte had a return on equity of 26.34% and a net margin of 25.03%.The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period in the previous year, the business posted $1.43 EPS. The business’s quarterly revenue was up 27.8% on a year-over-year basis. On average, equities analysts anticipate that Incyte Corporation will post 4.86 EPS for the current fiscal year.

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.