Landscape Capital Management L.L.C. Acquires Shares of 17,004 Incyte Corporation $INCY

Landscape Capital Management L.L.C. bought a new position in shares of Incyte Corporation (NASDAQ:INCY) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,004 shares of the biopharmaceutical company’s stock, valued at approximately $1,928,000.

A number of other large investors have also recently modified their holdings of INCY. Elyxium Wealth LLC bought a new position in shares of Incyte in the fourth quarter worth about $28,000. Smithfield Trust Co grew its holdings in shares of Incyte by 135.0% during the 4th quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 162 shares during the last quarter. MUFG Securities EMEA plc acquired a new position in Incyte during the 2nd quarter worth approximately $32,000. CYBER HORNET ETFs LLC acquired a new position in Incyte during the 2nd quarter worth approximately $33,000. Finally, Leonteq Securities AG bought a new position in Incyte in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insider Buying and Selling at Incyte

In related news, insider Pablo J. Cagnoni sold 10,801 shares of the firm’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $125.56, for a total transaction of $1,356,173.56. Following the completion of the transaction, the insider directly owned 183,200 shares of the company’s stock, valued at $23,002,592. This trade represents a 5.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Patrick A. Mayes sold 41,899 shares of Incyte stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $119.46, for a total value 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. The trade was a 40.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on INCY shares. Stifel Nicolaus set a $145.00 target price on shares of Incyte in a research report on Tuesday, July 28th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $104.00 price target on shares of Incyte in a research note on Thursday, August 13th. Piper Sandler raised their price objective on Incyte from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Monday, August 17th. Morgan Stanley set a $119.00 price objective on Incyte in a research report on Wednesday, July 29th. Finally, TD Cowen reiterated a “hold” rating on shares of Incyte in a research report on Tuesday, June 9th. Twelve analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $123.10.

Incyte Stock Performance

Shares of NASDAQ INCY opened at $127.81 on Friday. Incyte Corporation has a 52-week low of $81.09 and a 52-week high of $132.60. The firm has a 50 day moving average price of $116.17 and a two-hundred day moving average price of $104.17. The stock has a market cap of $25.91 billion, a P/E ratio of 16.28, a price-to-earnings-growth ratio of 4.05 and a beta of 0.76.

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