16,285 Shares in Incyte Corporation $INCY Purchased by B. Metzler seel. Sohn & Co. AG

Key Points

• B. Metzler seel. Sohn & Co. AG acquired 16,285 Incyte shares worth approximately $1.85 million in the second quarter. Institutional investors collectively own 96.97% of the company.
• Incyte reported strong quarterly results, with EPS of $3.09 versus estimates of $2.15 and revenue of $1.67 billion, up 37.7% year over year.
• Analyst sentiment remains mixed: the consensus rating is “Hold” with an average price target of $123.10, while some firms raised targets as high as $155. Recent insider transactions were sales conducted under pre-arranged Rule 10b5-1 plans.

B. Metzler seel. Sohn & Co. AG acquired a new position in Incyte Corporation (NASDAQ:INCY - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 16,285 shares of the biopharmaceutical company's stock, valued at approximately $1,846,000.

Several other large investors have also modified their holdings of the business. NewEdge Advisors LLC grew its position in Incyte by 369.3% in the 1st quarter. NewEdge Advisors LLC now owns 12,597 shares of the biopharmaceutical company's stock valued at $763,000 after acquiring an additional 9,913 shares during the last quarter. Jones Financial Companies Lllp lifted its position in shares of Incyte by 15.1% during the first quarter. Jones Financial Companies Lllp now owns 4,944 shares of the biopharmaceutical company's stock worth $299,000 after purchasing an additional 648 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Incyte by 6.4% during the first quarter. Goldman Sachs Group Inc. now owns 814,559 shares of the biopharmaceutical company's stock valued at $49,322,000 after purchasing an additional 48,751 shares during the period. United Services Automobile Association purchased a new stake in shares of Incyte during the first quarter valued at $219,000. Finally, Focus Partners Wealth grew its holdings in shares of Incyte by 74.1% in the first quarter. Focus Partners Wealth now owns 21,024 shares of the biopharmaceutical company's stock worth $1,273,000 after purchasing an additional 8,951 shares during the last quarter. Hedge funds and other institutional investors own 96.97% of the company's stock.

Incyte Price Performance

NASDAQ:INCY opened at $127.81 on Friday. Incyte Corporation has a 1-year low of $81.09 and a 1-year high of $132.60. The company has a 50-day moving average of $116.17 and a 200 day moving average of $104.17. The firm has a market cap of $25.91 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 4.05 and a beta of 0.76.

Incyte (NASDAQ:INCY - Get Free Report) last posted its earnings results on Tuesday, July 28th. The biopharmaceutical company reported $3.09 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.94. Incyte had a net margin of 27.71% and a return on equity of 29.93%. The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the firm posted $1.57 EPS. The company's revenue for the quarter was up 37.7% on a year-over-year basis. Sell-side analysts anticipate that Incyte Corporation will post 2.61 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on INCY shares. Leerink Partners raised their price target on shares of Incyte from $131.00 to $155.00 and gave the stock an "outperform" rating in a research note on Monday, August 3rd. Stifel Nicolaus set a $145.00 target price on shares of Incyte in a research note on Tuesday, July 28th. BMO Capital Markets raised their target price on shares of Incyte from $112.00 to $130.00 and gave the stock a "market perform" rating in a research report on Wednesday, July 29th. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $104.00 price target on shares of Incyte in a research note on Thursday, August 13th. Finally, Guggenheim boosted their price target on Incyte from $136.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, July 29th. Twelve research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $123.10.

Insider Activity at Incyte

In related news, insider Pablo J. Cagnoni sold 10,801 shares of Incyte stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $125.56, for a total transaction of $1,356,173.56. Following the transaction, the insider directly owned 183,200 shares of the company's stock, valued at $23,002,592. This trade represents a 5.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Patrick A. Mayes sold 41,899 shares of the business's stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $119.46, for a total transaction of $5,005,254.54. Following the completion of the transaction, the executive vice president directly owned 61,441 shares of the company's stock, valued at $7,339,741.86. This trade represents a 40.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company 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.

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