Hussman Strategic Advisors Inc. Lowers Stock Holdings in Incyte Corporation $INCY

Hussman Strategic Advisors Inc. reduced its stake in Incyte Corporation (NASDAQ:INCY) by 20.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,200 shares of the biopharmaceutical company’s stock after selling 6,300 shares during the quarter. Hussman Strategic Advisors Inc.’s holdings in Incyte were worth $2,489,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. AustralianSuper Pty Ltd bought a new position in Incyte during the third quarter worth about $18,085,000. Rakuten Investment Management Inc. bought a new position in Incyte during the third quarter worth about $14,646,000. LBP AM SA boosted its holdings in Incyte by 33.6% during the third quarter. LBP AM SA now owns 238,705 shares of the biopharmaceutical company’s stock worth $20,245,000 after buying an additional 59,974 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Incyte by 38.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 387,605 shares of the biopharmaceutical company’s stock worth $32,873,000 after buying an additional 108,645 shares during the last quarter. Finally, Toth Financial Advisory Corp bought a new position in Incyte during the fourth quarter worth about $1,213,000. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Oppenheimer raised their target price on Incyte from $84.00 to $90.00 and gave the stock a “market perform” rating in a report on Wednesday. Morgan Stanley set a $102.00 target price on Incyte in a report on Wednesday, February 11th. HC Wainwright reiterated a “buy” rating and set a $135.00 price objective on shares of Incyte in a report on Wednesday, April 15th. The Goldman Sachs Group reiterated a “neutral” rating and set a $90.00 price objective on shares of Incyte in a report on Thursday, January 8th. Finally, Jefferies Financial Group cut Incyte from a “buy” rating to a “hold” rating and cut their price objective for the company from $120.00 to $94.00 in a 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 issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $104.26.

Insider Buying and Selling at Incyte

In other Incyte news, insider Pablo J. Cagnoni sold 18,667 shares of the business’s stock in a transaction that occurred 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 transaction, the insider owned 262,692 shares of the company’s stock, valued at $25,349,778. The trade was a 6.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.80% of the stock is owned by company insiders.

Incyte Stock Up 1.7%

Shares of Incyte stock opened at $96.91 on Friday. The business’s 50 day simple moving average is $95.71 and its 200 day simple moving average is $98.83. Incyte Corporation has a 52-week low of $57.77 and a 52-week high of $112.29. The firm has a market cap of $19.36 billion, a PE ratio of 13.69, a P/E/G ratio of 0.94 and a beta of 0.79. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.25 and a current ratio of 3.68.

Incyte (NASDAQ:INCY) last announced its earnings results 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. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the firm earned $1.16 EPS. Incyte’s revenue for the quarter was up 20.9% compared to the same quarter last year. On average, analysts predict that Incyte Corporation will post 6.73 earnings per share for the current fiscal year.

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.