Ruffer LLP Has $2.51 Million Holdings in Incyte Corporation $INCY

Key Points

• Ruffer LLP cut its stake in Incyte by 42.6% in Q4, selling 18,793 shares and now holds 25,342 shares worth about $2.51 million.
• Insider Pablo J. Cagnoni sold 18,667 shares on April 17 under a Rule 10b5‑1 plan at an average $96.50 for roughly $1.80 million, reducing his position to 262,692 shares; insiders own 17.8% and institutional ownership is ~96.97%.
• Analysts are split (10 Buy / 10 Hold / 1 Sell) with a consensus rating of Hold and a $104.89 target; Incyte last quarter missed EPS ($1.80 vs. $1.96) but beat revenue ($1.51B, +27.8% YoY), and the stock trades around $96.74 (P/E 15.09).

Ruffer LLP cut its holdings in Incyte Corporation (NASDAQ:INCY - Free Report) by 42.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,342 shares of the biopharmaceutical company's stock after selling 18,793 shares during the quarter. Ruffer LLP's holdings in Incyte were worth $2,507,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new position in Incyte in the third quarter valued at approximately $26,000. Root Financial Partners LLC acquired a new position in Incyte in the third quarter valued at approximately $28,000. Quent Capital LLC acquired a new position in Incyte in the third quarter valued at approximately $30,000. MUFG Securities EMEA plc acquired a new position in Incyte in the second quarter valued at approximately $32,000. Finally, CYBER HORNET ETFs LLC acquired a new position in shares of Incyte during the second quarter worth approximately $33,000. 96.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on INCY shares. Weiss Ratings upgraded Incyte from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, April 1st. Barclays reiterated an "overweight" rating on shares of Incyte in a report on Tuesday, March 24th. TD Cowen reiterated a "buy" rating on shares of Incyte in a report on Tuesday, January 13th. Jefferies Financial Group cut Incyte from a "buy" rating to a "hold" rating and cut their target price for the stock from $120.00 to $94.00 in a report on Monday, March 16th. Finally, Morgan Stanley set a $102.00 target price on Incyte in a report on Wednesday, February 11th. Ten analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Incyte currently has an average rating of "Hold" and a consensus target price of $104.89.

Insider Buying and Selling

In related news, insider Pablo J. Cagnoni sold 18,667 shares of the stock in a transaction on Friday, April 17th. The stock was sold at an average price of $96.50, for a total value of $1,801,365.50. Following the completion of the sale, the insider directly owned 262,692 shares of the company's stock, valued at approximately $25,349,778. This represents a 6.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 17.80% of the company's stock.

Incyte Price Performance

Shares of INCY opened at $96.74 on Thursday. Incyte Corporation has a 12-month low of $57.29 and a 12-month high of $112.29. The business's fifty day moving average is $96.33 and its 200 day moving average is $98.38. The company has a quick ratio of 3.25, a current ratio of 3.32 and a debt-to-equity ratio of 0.01. The stock has a market cap of $19.25 billion, a P/E ratio of 15.09, a P/E/G ratio of 0.77 and a beta of 0.85.

Incyte (NASDAQ:INCY - Get Free Report) last released its quarterly earnings results on Tuesday, February 10th. The biopharmaceutical company reported $1.80 EPS for the quarter, missing analysts' consensus estimates of $1.96 by ($0.16). The company had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.35 billion. Incyte had a net margin of 25.03% and a return on equity of 26.34%. The company's quarterly revenue was up 27.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.43 earnings per share. Sell-side analysts anticipate that Incyte Corporation will post 6.52 earnings per share for the current fiscal 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.

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