18,960 Shares in Incyte Corporation $INCY Acquired by PFA Pension Forsikringsaktieselskab

Key Points

• PFA Pension bought a new position of 18,960 Incyte shares (about $1.875 million) during Q4, according to its SEC filing.
• Incyte beat expectations on April 28 with quarterly EPS of $1.81 vs. $1.38 consensus and revenue of $1.27B (up 20.9% year-over-year); analysts forecast roughly 6.73 EPS for the year.
• Institutional ownership is extremely high at 96.97%, while analysts remain split (10 Buy, 10 Hold, 1 Sell) producing an average "Hold" rating and a $104.26 target; market cap is about $19.4B with a P/E of ~13.7.

PFA Pension Forsikringsaktieselskab bought a new position in shares of Incyte Corporation (NASDAQ:INCY - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 18,960 shares of the biopharmaceutical company's stock, valued at approximately $1,875,000.

Several other hedge funds have also added to or reduced their stakes in the business. LSV Asset Management boosted its position in Incyte by 3.2% during the 3rd quarter. LSV Asset Management now owns 3,986,097 shares of the biopharmaceutical company's stock worth $338,061,000 after buying an additional 124,266 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in Incyte by 13.7% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,103,946 shares of the biopharmaceutical company's stock worth $263,246,000 after buying an additional 373,298 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in Incyte by 7.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,480,793 shares of the biopharmaceutical company's stock worth $245,028,000 after buying an additional 161,405 shares during the period. Man Group plc boosted its position in Incyte by 20.0% during the 3rd quarter. Man Group plc now owns 1,933,547 shares of the biopharmaceutical company's stock worth $163,984,000 after buying an additional 322,877 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its position in Incyte by 34.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,743,794 shares of the biopharmaceutical company's stock worth $147,891,000 after buying an additional 448,911 shares during the period. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Incyte Stock Up 0.2%

Shares of NASDAQ INCY opened at $97.14 on Tuesday. The company has a market capitalization of $19.41 billion, a P/E ratio of 13.72, a price-to-earnings-growth ratio of 0.91 and a beta of 0.79. Incyte Corporation has a 52-week low of $57.77 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 50 day moving average price is $95.71 and its 200-day moving average price is $98.92.

Incyte (NASDAQ:INCY - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.38 by $0.43. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The firm 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 company's revenue for the quarter was up 20.9% on a year-over-year basis. Equities analysts forecast that Incyte Corporation will post 6.73 earnings per share for the current year.

Insider Activity

In related 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 transaction of $1,801,365.50. Following the transaction, the insider owned 262,692 shares in the company, valued at $25,349,778. The trade was a 6.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on INCY. HC Wainwright restated a "buy" rating and issued a $135.00 price target on shares of Incyte in a research report on Monday. Piper Sandler boosted their price target on shares of Incyte from $102.00 to $110.00 and gave the stock an "overweight" rating in a research report on Friday, February 6th. Oppenheimer boosted their price target 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. Wells Fargo & Company dropped their price target on shares of Incyte from $107.00 to $101.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 11th. Finally, Morgan Stanley set a $102.00 price target on shares of Incyte in a research report on Wednesday, February 11th. Ten analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $104.26.

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.

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