Trek Financial LLC Invests $539,000 in Incyte Corporation $INCY

Trek Financial LLC acquired a new position in Incyte Corporation (NASDAQ:INCY) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,456 shares of the biopharmaceutical company’s stock, valued at approximately $539,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Root Financial Partners LLC purchased a new position in shares of Incyte in the 3rd quarter worth about $28,000. Quent Capital LLC purchased a new position in shares of Incyte in the 3rd quarter worth about $30,000. MUFG Securities EMEA plc purchased a new position in shares of Incyte in the 2nd quarter worth about $32,000. CYBER HORNET ETFs LLC purchased a new position in shares of Incyte in the 2nd quarter worth about $33,000. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of Incyte in the 3rd quarter worth about $42,000. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Morgan Stanley set a $102.00 price objective on Incyte in a report on Wednesday, February 11th. Weiss Ratings upgraded Incyte from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, April 1st. UBS Group dropped their target price on Incyte from $104.00 to $94.00 and set a “neutral” rating for the company in a report on Wednesday, March 25th. Oppenheimer increased their target price on Incyte from $84.00 to $90.00 and gave the company a “market perform” rating in a report on Wednesday, April 29th. Finally, Wells Fargo & Company dropped their target price on Incyte from $107.00 to $101.00 and set an “equal weight” rating for the company in a report on Wednesday, February 11th. 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $104.26.

Incyte Trading Down 0.3%

Shares of INCY stock opened at $98.82 on Thursday. The stock has a market capitalization of $19.74 billion, a PE ratio of 13.96, a P/E/G ratio of 0.93 and a beta of 0.79. Incyte Corporation has a 1-year low of $59.15 and a 1-year high of $112.29. The business has a 50-day moving average of $95.46 and a 200 day moving average of $99.47. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.68 and a quick ratio of 3.60.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.43. The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Incyte had a return on equity of 26.66% and a net margin of 26.71%.Incyte’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.16 EPS. As a group, sell-side analysts anticipate that Incyte Corporation will post 6.73 earnings per share for the current year.

Insider Buying and Selling

In other Incyte news, insider Pablo J. Cagnoni sold 18,667 shares of the company’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 completion of the transaction, the insider owned 262,692 shares of the company’s stock, valued at $25,349,778. This represents a 6.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.20% of the stock is owned by insiders.

Incyte Company 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.