Incyte Corporation $INCY Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC increased its stake in Incyte Corporation (NASDAQ:INCY) by 23.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 55,755 shares of the biopharmaceutical company’s stock after buying an additional 10,576 shares during the period. ProShare Advisors LLC’s holdings in Incyte were worth $5,507,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of INCY. Oregon Public Employees Retirement Fund grew its holdings in shares of Incyte by 0.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 18,870 shares of the biopharmaceutical company’s stock valued at $1,864,000 after buying an additional 100 shares in the last quarter. Bank of Nova Scotia grew its holdings in shares of Incyte by 0.7% during the second quarter. Bank of Nova Scotia now owns 17,041 shares of the biopharmaceutical company’s stock valued at $1,160,000 after buying an additional 124 shares in the last quarter. Perbak Capital Partners LLP grew its holdings in shares of Incyte by 2.5% during the third quarter. Perbak Capital Partners LLP now owns 5,298 shares of the biopharmaceutical company’s stock valued at $449,000 after buying an additional 129 shares in the last quarter. Savvy Advisors Inc. grew its holdings in shares of Incyte by 2.6% during the fourth quarter. Savvy Advisors Inc. now owns 5,339 shares of the biopharmaceutical company’s stock valued at $527,000 after buying an additional 133 shares in the last quarter. Finally, Haven Capital Group Inc. grew its holdings in shares of Incyte by 0.8% during the fourth quarter. Haven Capital Group Inc. now owns 17,985 shares of the biopharmaceutical company’s stock valued at $1,776,000 after buying an additional 144 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

INCY has been the topic of a number of research analyst reports. Jefferies Financial Group downgraded Incyte from a “buy” rating to a “hold” rating and lowered their price target for the company from $120.00 to $94.00 in a report on Monday, March 16th. Barclays reiterated an “overweight” rating on shares of Incyte in a report on Tuesday, March 24th. Sanford C. Bernstein initiated coverage on Incyte in a report on Thursday. They set a “market perform” rating and a $99.00 price target on the stock. Weiss Ratings upgraded Incyte from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, April 1st. Finally, Citigroup reiterated a “buy” rating on shares of Incyte in a report on Thursday. Ten analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Incyte has a consensus rating of “Hold” and a consensus target price of $104.00.

Insider Transactions at Incyte

In related news, insider Pablo J. Cagnoni sold 18,667 shares of Incyte stock in a transaction on 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 completion of the sale, the insider owned 262,692 shares of the company’s stock, valued at approximately $25,349,778. This trade represents a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 16.20% of the company’s stock.

Incyte Price Performance

INCY opened at $97.16 on Friday. The stock has a market cap of $19.41 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 0.93 and a beta of 0.79. Incyte Corporation has a 1 year low of $63.51 and a 1 year high of $112.29. The company has a current ratio of 3.68, a quick ratio of 3.60 and a debt-to-equity ratio of 0.01. The stock has a fifty day moving average price of $95.41 and a 200 day moving average price of $99.64.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.43. The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The business’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.16 earnings per share. Analysts forecast that Incyte Corporation will post 6.74 EPS for the current fiscal 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.