PFA Pension Forsikringsaktieselskab Buys New Shares in Incyte Corporation $INCY

PFA Pension Forsikringsaktieselskab bought a new stake in shares of Incyte Corporation (NASDAQ:INCY) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 18,960 shares of the biopharmaceutical company’s stock, valued at approximately $1,875,000.

A number of other institutional investors also recently modified their holdings of INCY. AustralianSuper Pty Ltd acquired a new position in shares of Incyte in the third quarter valued at approximately $18,085,000. Rakuten Investment Management Inc. purchased a new position in Incyte in the third quarter worth approximately $14,646,000. LBP AM SA lifted its stake in Incyte by 33.6% in the third quarter. LBP AM SA now owns 238,705 shares of the biopharmaceutical company’s stock worth $20,245,000 after acquiring an additional 59,974 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Incyte by 38.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 387,605 shares of the biopharmaceutical company’s stock worth $32,873,000 after acquiring an additional 108,645 shares during the last quarter. Finally, Toth Financial Advisory Corp purchased a new position in Incyte in the fourth quarter worth approximately $1,213,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on INCY shares. TD Cowen reiterated a “buy” rating on shares of Incyte in a research note on Tuesday, January 13th. Stifel Nicolaus lifted their price target on shares of Incyte from $120.00 to $123.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Jefferies Financial Group downgraded shares of Incyte from a “buy” rating to a “hold” rating and decreased their price target for the stock from $120.00 to $94.00 in a research note on Monday, March 16th. Wells Fargo & Company decreased their price target on shares of Incyte from $107.00 to $101.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 11th. Finally, Morgan Stanley set a $102.00 price target on shares of Incyte in a research note on Wednesday, February 11th. Ten research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given 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.

Incyte Stock Up 0.2%

Shares of NASDAQ:INCY opened at $97.14 on Tuesday. The company has a market capitalization of $19.41 billion, a PE ratio of 13.72, a P/E/G ratio of 0.91 and a beta of 0.79. The company has a current ratio of 3.68, a quick ratio of 3.60 and a debt-to-equity ratio of 0.01. Incyte Corporation has a twelve month low of $57.77 and a twelve month high of $112.29. The firm has a 50 day simple moving average of $95.71 and a 200-day simple moving average of $98.92.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.43. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.22 billion. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The company’s revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.16 EPS. On average, equities analysts predict that Incyte Corporation will post 6.73 EPS for the current fiscal year.

Insider Buying and Selling at Incyte

In other news, insider Pablo J. Cagnoni sold 18,667 shares of the business’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 sale, the insider owned 262,692 shares in the company, valued at approximately $25,349,778. The trade was a 6.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 17.80% of the company’s stock.

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.