DCF Advisers LLC Makes New Investment in Incyte Corporation $INCY

DCF Advisers LLC bought a new position in shares of Incyte Corporation (NASDAQ:INCY) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 41,500 shares of the biopharmaceutical company’s stock, valued at approximately $4,704,000. Incyte accounts for 0.8% of DCF Advisers LLC’s investment portfolio, making the stock its 20th biggest position.

Other institutional investors have also recently bought and sold shares of the company. NewEdge Advisors LLC increased its stake in shares of Incyte by 369.3% in the first quarter. NewEdge Advisors LLC now owns 12,597 shares of the biopharmaceutical company’s stock worth $763,000 after purchasing an additional 9,913 shares during the period. Jones Financial Companies Lllp grew its holdings in Incyte by 15.1% in the 1st quarter. Jones Financial Companies Lllp now owns 4,944 shares of the biopharmaceutical company’s stock valued at $299,000 after buying an additional 648 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Incyte by 6.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 814,559 shares of the biopharmaceutical company’s stock worth $49,322,000 after buying an additional 48,751 shares during the period. United Services Automobile Association bought a new position in Incyte in the 1st quarter worth approximately $219,000. Finally, Focus Partners Wealth lifted its holdings in shares of Incyte by 74.1% during the first quarter. Focus Partners Wealth now owns 21,024 shares of the biopharmaceutical company’s stock worth $1,273,000 after buying an additional 8,951 shares during the last quarter. Institutional investors own 96.97% of the company’s stock.

Insider Transactions at Incyte

In other news, EVP Patrick A. Mayes sold 41,899 shares of the stock in a transaction on Friday, July 31st. The shares were sold at an average price of $119.46, for a total value of $5,005,254.54. Following the completion of the transaction, the executive vice president owned 61,441 shares in the company, valued at approximately $7,339,741.86. This represents a 40.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.20% of the stock is owned by company insiders.

Incyte Trading Up 4.0%

INCY opened at $128.47 on Thursday. The stock has a market cap of $26.04 billion, a PE ratio of 16.37, a P/E/G ratio of 3.91 and a beta of 0.76. Incyte Corporation has a 1 year low of $81.09 and a 1 year high of $132.60. The stock’s 50 day simple moving average is $115.40 and its 200-day simple moving average is $103.81.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, July 28th. The biopharmaceutical company reported $3.09 EPS for the quarter, topping the consensus estimate of $2.15 by $0.94. The firm had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Incyte had a return on equity of 29.93% and a net margin of 27.71%.Incyte’s quarterly revenue was up 37.7% compared to the same quarter last year. During the same period last year, the business earned $1.57 earnings per share. Equities analysts forecast that Incyte Corporation will post 2.61 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Oppenheimer restated a “market perform” rating and issued a $120.00 price objective on shares of Incyte in a research note on Tuesday, July 28th. Royal Bank Of Canada upped their target price on shares of Incyte from $99.00 to $109.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 29th. Guggenheim increased their price target on shares of Incyte from $136.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Mizuho raised their price target on shares of Incyte from $121.00 to $137.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 4th. Finally, Citigroup restated a “buy” rating on shares of Incyte in a report on Monday, August 3rd. Ten research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $121.65.

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.