J. Safra Sarasin Holding AG Buys Shares of 44,061 Incyte Corporation $INCY

J. Safra Sarasin Holding AG purchased a new position in Incyte Corporation (NASDAQ:INCY) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 44,061 shares of the biopharmaceutical company’s stock, valued at approximately $3,737,000.

A number of other hedge funds also recently bought and sold shares of INCY. Arrowstreet Capital Limited Partnership grew its stake in shares of Incyte by 701.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,730,648 shares of the biopharmaceutical company’s stock valued at $185,957,000 after purchasing an additional 2,390,084 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Incyte by 21.8% in the second quarter. AQR Capital Management LLC now owns 8,201,455 shares of the biopharmaceutical company’s stock worth $558,519,000 after buying an additional 1,465,286 shares during the last quarter. Norges Bank purchased a new position in shares of Incyte in the second quarter worth approximately $96,776,000. Pacer Advisors Inc. grew its position in Incyte by 8,091.6% during the third quarter. Pacer Advisors Inc. now owns 1,248,642 shares of the biopharmaceutical company’s stock valued at $105,897,000 after buying an additional 1,233,399 shares during the period. Finally, Marshall Wace LLP purchased a new stake in shares of Incyte in the 2nd quarter worth $82,485,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Insider Activity at Incyte

In other news, insider Thomas Tray sold 2,774 shares of the stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $100.00, for a total transaction of $277,400.00. Following the completion of the transaction, the insider directly owned 22,973 shares in the company, valued at approximately $2,297,300. This represents a 10.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 owned 66,132 shares in the company, valued at $7,213,017.24. This represents a 14.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 98,897 shares of company stock valued at $9,869,376 in the last 90 days. 17.80% of the stock is currently owned by insiders.

Incyte Stock Performance

Shares of NASDAQ INCY opened at $103.47 on Wednesday. The company has a market cap of $20.31 billion, a P/E ratio of 17.33, a P/E/G ratio of 0.61 and a beta of 0.82. Incyte Corporation has a 52-week low of $53.56 and a 52-week high of $112.29. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.13 and a current ratio of 3.20. The firm’s fifty day moving average is $101.95 and its two-hundred day moving average is $91.40.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, October 28th. The biopharmaceutical company reported $2.26 EPS for the quarter, beating the consensus estimate of $1.65 by $0.61. Incyte had a net margin of 24.69% and a return on equity of 26.56%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter in the prior year, the firm earned $1.07 EPS. The business’s revenue was up 20.0% on a year-over-year basis. As a group, analysts anticipate that Incyte Corporation will post 4.86 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on INCY. Morgan Stanley raised their price objective on Incyte from $92.00 to $94.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 6th. TD Cowen restated a “buy” rating on shares of Incyte in a research note on Tuesday, January 13th. JPMorgan Chase & Co. lifted their price target on shares of Incyte from $73.00 to $89.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Oppenheimer downgraded shares of Incyte from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 8th. Finally, Mizuho set a $121.00 target price on shares of Incyte and gave the stock an “outperform” rating in a report on Monday, December 8th. Eight research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $100.75.

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.