Edmond DE Rothschild Holding S.A. Buys Shares of 7,394 Incyte Corporation $INCY

Edmond DE Rothschild Holding S.A. bought a new stake in Incyte Corporation (NASDAQ:INCY) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,394 shares of the biopharmaceutical company’s stock, valued at approximately $838,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of Incyte by 11.5% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 210,097 shares of the biopharmaceutical company’s stock valued at $20,719,000 after purchasing an additional 21,735 shares during the period. Twin Capital Management Inc. acquired a new stake in shares of Incyte during the first quarter worth approximately $875,000. Northwestern Mutual Wealth Management Co. grew its position in Incyte by 5,218.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 596,840 shares of the biopharmaceutical company’s stock valued at $58,950,000 after purchasing an additional 585,618 shares in the last quarter. GC Wealth Management RIA LLC purchased a new position in Incyte during the fourth quarter valued at approximately $1,629,000. Finally, Sector Gamma AS increased its stake in Incyte by 6.7% in the 4th quarter. Sector Gamma AS now owns 218,783 shares of the biopharmaceutical company’s stock valued at $21,609,000 after buying an additional 13,669 shares during the period. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insiders Place Their Bets

In other Incyte news, EVP Patrick A. Mayes sold 41,899 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $119.46, for a total transaction of $5,005,254.54. Following the transaction, the executive vice president directly owned 61,441 shares in the company, valued at $7,339,741.86. This trade represents a 40.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Pablo J. Cagnoni sold 10,801 shares of the business’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $125.56, for a total value of $1,356,173.56. Following the completion of the sale, the insider directly owned 183,200 shares of the company’s stock, valued at $23,002,592. This represents a 5.57% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 16.20% of the company’s stock.

Incyte Stock Down 1.0%

NASDAQ INCY opened at $127.22 on Friday. The stock has a market capitalization of $25.79 billion, a PE ratio of 16.21, a price-to-earnings-growth ratio of 4.07 and a beta of 0.76. The company has a 50 day moving average price of $115.79 and a two-hundred day moving average price of $104.00. Incyte Corporation has a 12-month low of $81.09 and a 12-month high of $132.60.

Incyte (NASDAQ:INCY) last announced its quarterly 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 company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.50 billion. Incyte had a net margin of 27.71% and a return on equity of 29.93%. Incyte’s quarterly revenue was up 37.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.57 EPS. As a group, equities analysts anticipate that Incyte Corporation will post 2.61 EPS for the current year.

Analyst Upgrades and Downgrades

INCY has been the subject of a number of research analyst reports. Canaccord Genuity Group started coverage on shares of Incyte in a research report on Thursday. They issued a “buy” rating and a $152.00 target price for the company. Citigroup restated a “buy” rating on shares of Incyte in a report on Monday, August 3rd. Stifel Nicolaus set a $145.00 price target on shares of Incyte in a research note on Tuesday, July 28th. BMO Capital Markets increased their price objective on Incyte from $112.00 to $130.00 and gave the stock a “market perform” rating in a report on Wednesday, July 29th. Finally, Royal Bank Of Canada lifted their price objective on Incyte from $99.00 to $109.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 29th. Twelve equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $123.10.

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.