Northwestern Mutual Wealth Management Co. Acquires 13,123 Shares of Incyte Corporation $INCY

Northwestern Mutual Wealth Management Co. raised its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 116.9% in the 4th quarter, Holdings Channel reports. The firm owned 24,345 shares of the biopharmaceutical company’s stock after purchasing an additional 13,123 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Incyte were worth $2,405,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in INCY. Caisse de depot et placement du Quebec lifted its position in shares of Incyte by 264.5% during the third quarter. Caisse de depot et placement du Quebec now owns 1,498,013 shares of the biopharmaceutical company’s stock worth $127,046,000 after purchasing an additional 1,087,091 shares during the last quarter. Man Group plc lifted its position in shares of Incyte by 52.8% during the second quarter. Man Group plc now owns 1,610,670 shares of the biopharmaceutical company’s stock worth $109,687,000 after purchasing an additional 556,243 shares during the last quarter. Squarepoint Ops LLC lifted its position in shares of Incyte by 9,739.1% during the second quarter. Squarepoint Ops LLC now owns 558,171 shares of the biopharmaceutical company’s stock worth $38,011,000 after purchasing an additional 552,498 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in shares of Incyte by 1,346.2% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 571,234 shares of the biopharmaceutical company’s stock worth $48,446,000 after purchasing an additional 531,734 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Incyte by 11.3% during the fourth quarter. Geode Capital Management LLC now owns 4,993,012 shares of the biopharmaceutical company’s stock worth $491,500,000 after purchasing an additional 506,842 shares during the last quarter. 96.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on INCY. Weiss Ratings upgraded Incyte from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, April 1st. UBS Group decreased their price objective on Incyte from $104.00 to $94.00 and set a “neutral” rating for the company in a report on Wednesday, March 25th. Barclays restated an “overweight” rating on shares of Incyte in a report on Tuesday, March 24th. Jefferies Financial Group downgraded Incyte from a “buy” rating to a “hold” rating and decreased their price objective for the company from $120.00 to $94.00 in a report on Monday, March 16th. Finally, Citigroup restated a “market perform” rating on shares of Incyte in a report on Tuesday. Nine analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $104.00.

Incyte Stock Performance

INCY stock opened at $102.38 on Friday. The company has a market capitalization of $20.45 billion, a P/E ratio of 14.46, a PEG ratio of 0.98 and a beta of 0.79. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.68 and a quick ratio of 3.60. The business has a 50-day moving average price of $96.49 and a 200 day moving average price of $99.09. Incyte Corporation has a 1-year low of $66.74 and a 1-year high of $112.29.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates 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 firm’s revenue was up 20.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.16 earnings per share. As a group, equities research analysts forecast that Incyte Corporation will post 6.65 EPS for the current fiscal year.

Insider Buying and Selling

In other Incyte news, insider Pablo J. Cagnoni sold 18,667 shares of the business’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $96.50, for a total value of $1,801,365.50. Following the completion of the transaction, the insider directly owned 262,692 shares in the company, valued at approximately $25,349,778. The trade was a 6.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 16.20% 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.