17,400 Shares in Incyte Corporation $INCY Acquired by New England Research & Management Inc.

New England Research & Management Inc. bought a new stake in Incyte Corporation (NASDAQ:INCY – Free Report) in the 4th quarter, Holdings Channel.com reports. The fund bought 17,400 shares of the biopharmaceutical company’s stock, valued at approximately $1,719,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new position in Incyte during the third quarter worth $26,000. Root Financial Partners LLC acquired a new stake in shares of Incyte in the third quarter valued at $28,000. Quent Capital LLC acquired a new stake in shares of Incyte in the third quarter valued at $30,000. MUFG Securities EMEA plc purchased a new stake in shares of Incyte in the 2nd quarter valued at $32,000. Finally, CYBER HORNET ETFs LLC purchased a new stake in shares of Incyte in the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Insider Transactions at Incyte

In related news, EVP Mohamed Khairie Issa sold 10,856 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $109.07, for a total value of $1,184,063.92. Following the sale, the executive vice president owned 66,132 shares of the company’s stock, valued at $7,213,017.24. This trade represents a 14.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Pablo J. Cagnoni sold 18,667 shares of Incyte stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $94.24, for a total transaction of $1,759,178.08. Following the completion of the transaction, the insider owned 234,800 shares of the company’s stock, valued at $22,127,552. This represents a 7.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 17.80% of the company’s stock.

Wall Street Analysts Forecast Growth

INCY has been the subject of a number of research analyst reports. Stifel Nicolaus raised their target price on Incyte from $119.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Wall Street Zen lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 14th. Morgan Stanley set a $102.00 price target on shares of Incyte in a research report on Wednesday, February 11th. Wells Fargo & Company lowered their price objective 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, TD Cowen restated a “buy” rating on shares of Incyte in a report on Tuesday, January 13th. Nine analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Incyte presently has a consensus rating of “Hold” and an average target price of $103.44.

Get Our Latest Research Report on Incyte

Incyte Trading Down 2.3%

NASDAQ:INCY opened at $90.78 on Friday. Incyte Corporation has a 12-month low of $53.56 and a 12-month high of $112.29. The firm has a market cap of $18.07 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 0.72 and a beta of 0.84. The company has a current ratio of 3.32, a quick ratio of 3.25 and a debt-to-equity ratio of 0.01. The stock has a fifty day moving average price of $100.41 and a 200 day moving average price of $96.84.

Incyte (NASDAQ:INCY – Get Free Report) last issued its quarterly earnings results on Tuesday, February 10th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.96 by ($0.16). The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Incyte had a return on equity of 26.34% and a net margin of 25.03%.Incyte’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.43 EPS. Sell-side analysts anticipate that Incyte Corporation will post 4.86 earnings per share for the current fiscal year.

Incyte Profile

(Free Report)

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.

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