Man Group plc Has $108.58 Million Position in Incyte Corporation $INCY

Man Group plc lowered its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 43.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,099,329 shares of the biopharmaceutical company’s stock after selling 834,218 shares during the period. Man Group plc owned about 0.55% of Incyte worth $108,581,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of INCY. Norges Bank acquired a new stake in Incyte during the fourth quarter worth $122,893,000. Caisse de depot et placement du Quebec boosted its stake in 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 buying an additional 1,087,091 shares in the last quarter. Marshall Wace LLP boosted its stake in Incyte by 6,586.4% during the fourth quarter. Marshall Wace LLP now owns 1,072,491 shares of the biopharmaceutical company’s stock worth $105,930,000 after buying an additional 1,056,451 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Incyte by 5,218.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 596,840 shares of the biopharmaceutical company’s stock worth $58,950,000 after buying an additional 585,618 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its stake in 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 buying an additional 552,498 shares in the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insider Activity at Incyte

In other news, insider Pablo J. Cagnoni sold 18,667 shares of the business’s stock in a transaction on 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 sale, the insider owned 262,692 shares in the company, valued at approximately $25,349,778. The trade was a 6.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 16.20% of the company’s stock.

Incyte Stock Down 0.8%

Shares of NASDAQ:INCY opened at $98.99 on Thursday. Incyte Corporation has a 52 week low of $66.74 and a 52 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 company’s fifty day moving average is $98.06 and its 200-day moving average is $99.02. The company has a market capitalization of $19.78 billion, a PE ratio of 13.98, a P/E/G ratio of 0.97 and a beta of 0.79.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.38 by $0.43. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the company earned $1.16 EPS. The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. Equities research analysts predict that Incyte Corporation will post 6.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Citigroup reiterated a “market perform” rating on shares of Incyte in a research note on Tuesday, June 2nd. Weiss Ratings upgraded shares of Incyte from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, April 1st. Jefferies Financial Group downgraded shares of Incyte from a “buy” rating to a “hold” rating and decreased their price target for the stock from $120.00 to $94.00 in a research note on Monday, March 16th. Oppenheimer reiterated a “market perform” rating and set a $107.00 price target on shares of Incyte in a research note on Monday, June 8th. Finally, HC Wainwright boosted their target price on shares of Incyte from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. Eight research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $105.10.

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.