11,000 Shares in Incyte Corporation $INCY Bought by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. acquired a new stake in Incyte Corporation (NASDAQ:INCY) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 11,000 shares of the biopharmaceutical company’s stock, valued at approximately $933,000.

Several other large investors also recently modified their holdings of INCY. Essex Financial Services Inc. acquired a new position in shares of Incyte in the third quarter worth about $209,000. Syon Capital LLC increased its holdings in Incyte by 13.8% during the 3rd quarter. Syon Capital LLC now owns 5,000 shares of the biopharmaceutical company’s stock worth $424,000 after purchasing an additional 605 shares during the last quarter. NEOS Investment Management LLC increased its holdings in Incyte by 54.0% during the 3rd quarter. NEOS Investment Management LLC now owns 14,044 shares of the biopharmaceutical company’s stock worth $1,191,000 after purchasing an additional 4,927 shares during the last quarter. Rothschild Investment LLC raised its position in shares of Incyte by 1,708.6% in the 3rd quarter. Rothschild Investment LLC now owns 4,431 shares of the biopharmaceutical company’s stock valued at $376,000 after purchasing an additional 4,186 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Incyte by 1,346.2% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 571,234 shares of the biopharmaceutical company’s stock valued at $48,446,000 after buying an additional 531,734 shares during the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

INCY has been the subject of a number of research analyst reports. Mizuho set a $121.00 price target on shares of Incyte and gave the stock an “outperform” rating in a research note on Monday, December 8th. Morgan Stanley set a $102.00 price objective on shares of Incyte in a report on Wednesday, February 11th. The Goldman Sachs Group restated a “neutral” rating and issued a $90.00 target price on shares of Incyte in a research note on Thursday, January 8th. Guggenheim raised shares of Incyte from a “neutral” rating to a “buy” rating and set a $125.00 price target on the stock in a research report on Monday, November 3rd. Finally, Piper Sandler lifted their price target on Incyte from $102.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. Nine research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Incyte currently has a consensus rating of “Hold” and a consensus target price of $104.00.

Incyte Stock Down 0.5%

Shares of INCY opened at $100.85 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.25 and a current ratio of 3.32. Incyte Corporation has a 52 week low of $53.56 and a 52 week high of $112.29. The stock has a market capitalization of $20.07 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 0.81 and a beta of 0.82. The stock has a fifty day moving average of $102.36 and a 200-day moving average of $95.34.

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

Insider Buying and Selling at Incyte

In other news, insider Thomas Tray sold 2,774 shares of the firm’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $100.00, for a total transaction of $277,400.00. Following the completion of the transaction, the insider owned 22,973 shares of the company’s stock, valued at approximately $2,297,300. This trade represents a 10.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mohamed Khairie Issa sold 10,856 shares of the business’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $109.07, for a total transaction of $1,184,063.92. Following the completion of the sale, the executive vice president directly owned 66,132 shares in the company, valued at approximately $7,213,017.24. This represents a 14.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 95,225 shares of company stock worth $9,519,745 in the last 90 days. 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.