National Pension Service Acquires 27,984 Shares of Incyte Corporation $INCY

National Pension Service boosted its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 151.3% during the 4th quarter, Holdings Channel reports. The fund owned 46,479 shares of the biopharmaceutical company’s stock after buying an additional 27,984 shares during the period. National Pension Service’s holdings in Incyte were worth $4,591,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of INCY. Elyxium Wealth LLC bought a new stake in shares of Incyte in the 4th quarter valued at about $28,000. Smithfield Trust Co boosted its holdings in shares of Incyte by 135.0% in the 4th quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 162 shares in the last quarter. MUFG Securities EMEA plc bought a new stake in shares of Incyte in the 2nd quarter valued at about $32,000. CYBER HORNET ETFs LLC bought a new stake in shares of Incyte in the 2nd quarter valued at about $33,000. Finally, Leonteq Securities AG bought a new stake in shares of Incyte in the 4th quarter valued at about $35,000. 96.97% of the stock is currently owned by institutional investors.

Insider Transactions at Incyte

In other Incyte news, insider Pablo J. Cagnoni sold 18,667 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $96.50, for a total transaction of $1,801,365.50. Following the completion of the transaction, the insider directly owned 262,692 shares of the company’s stock, valued at approximately $25,349,778. This trade represents a 6.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 Performance

Shares of Incyte stock opened at $95.59 on Tuesday. The firm has a market capitalization of $19.10 billion, a P/E ratio of 13.50, a PEG ratio of 0.93 and a beta of 0.79. The company has a quick ratio of 3.60, a current ratio of 3.68 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average price of $95.89 and a 200 day moving average price of $99.25. Incyte Corporation has a 52 week low of $63.92 and a 52 week high of $112.29.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on INCY shares. Piper Sandler raised their price target on shares of Incyte from $102.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, February 6th. HC Wainwright restated a “buy” rating and issued a $135.00 price target on shares of Incyte in a report on Thursday, May 21st. Jefferies Financial Group cut shares of 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. Citigroup restated a “market perform” rating on shares of Incyte in a report on Tuesday. Finally, Barclays restated an “overweight” rating on shares of Incyte in a report on Tuesday, March 24th. Nine investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $104.00.

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.