Savant Capital LLC Sells 89,770 Shares of Incyte Corporation $INCY

Savant Capital LLC cut its stake in shares of Incyte Corporation (NASDAQ:INCY) by 97.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,072 shares of the biopharmaceutical company’s stock after selling 89,770 shares during the period. Savant Capital LLC’s holdings in Incyte were worth $205,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of INCY. AustralianSuper Pty Ltd bought a new position in shares of Incyte in the third quarter worth approximately $18,085,000. Nordea Investment Management AB increased its position in shares of Incyte by 941.8% in the fourth quarter. Nordea Investment Management AB now owns 322,223 shares of the biopharmaceutical company’s stock worth $31,874,000 after purchasing an additional 291,293 shares during the last quarter. Toth Financial Advisory Corp bought a new position in shares of Incyte in the fourth quarter worth approximately $1,213,000. Fairvoy Private Wealth LLC increased its position in shares of Incyte by 468.8% in the fourth quarter. Fairvoy Private Wealth LLC now owns 30,169 shares of the biopharmaceutical company’s stock worth $2,980,000 after purchasing an additional 24,865 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. bought a new position in shares of Incyte in the third quarter worth approximately $961,000. 96.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Incyte

In other news, insider Pablo J. Cagnoni sold 18,667 shares of the 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 sale, the insider owned 262,692 shares of the company’s stock, valued at approximately $25,349,778. This represents a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 16.20% of the company’s stock.

Wall Street Analysts Forecast Growth

INCY has been the topic of several research analyst reports. Sanford C. Bernstein initiated coverage on shares of Incyte in a research report on Thursday, May 21st. They issued a “market perform” rating and a $99.00 price objective on the stock. Oppenheimer upped their price objective on shares of Incyte from $84.00 to $90.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 29th. HC Wainwright restated a “buy” rating and issued a $135.00 price objective on shares of Incyte in a research report on Thursday, May 21st. UBS Group decreased their price objective on shares of Incyte from $104.00 to $94.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 25th. Finally, Stifel Nicolaus upped their price objective on shares of Incyte from $120.00 to $123.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Nine analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $104.00.

Incyte Stock Performance

NASDAQ:INCY opened at $102.38 on Monday. The firm has a market cap of $20.45 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 0.99 and a beta of 0.79. Incyte Corporation has a fifty-two week low of $66.74 and a fifty-two week high of $112.29. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.60 and a current ratio of 3.68. The business has a 50 day moving average price of $96.49 and a 200-day moving average price of $99.06.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.43. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.22 billion. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The business’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.16 earnings per share. Equities research analysts predict that Incyte Corporation will post 6.65 earnings per share for the current year.

Incyte 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.