Sanctuary Advisors LLC Has $3.16 Million Holdings in Incyte Corporation $INCY

Key Points

• Sanctuary Advisors LLC increased its stake in Incyte by 87.7% in Q4 to 31,958 shares, valued at approximately $3.16 million.
• Incyte beat quarterly expectations with EPS of $1.81 (vs. $1.38 est.) and revenue of $1.27B (+20.9% YoY), yet the Street holds a consensus "Hold" rating with an average price target of $104.26.
• High institutional ownership and insider activity: institutions hold 96.97% of the stock, while insider Pablo J. Cagnoni sold 18,667 shares and insiders collectively own 17.80%.

Sanctuary Advisors LLC increased its holdings in Incyte Corporation (NASDAQ:INCY - Free Report) by 87.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,958 shares of the biopharmaceutical company's stock after acquiring an additional 14,934 shares during the period. Sanctuary Advisors LLC's holdings in Incyte were worth $3,156,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in INCY. Caisse de depot et placement du Quebec raised its holdings in shares of Incyte by 264.5% in the 3rd 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 acquiring an additional 1,087,091 shares during the last quarter. Man Group plc raised its holdings in shares of Incyte by 52.8% in the 2nd quarter. Man Group plc now owns 1,610,670 shares of the biopharmaceutical company's stock worth $109,687,000 after acquiring an additional 556,243 shares during the last quarter. Squarepoint Ops LLC raised its holdings in shares of Incyte by 9,739.1% in the 2nd quarter. Squarepoint Ops LLC now owns 558,171 shares of the biopharmaceutical company's stock worth $38,011,000 after acquiring an additional 552,498 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Incyte by 1,346.2% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 571,234 shares of the biopharmaceutical company's stock worth $48,446,000 after acquiring an additional 531,734 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Incyte by 34.7% in 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 acquiring an additional 448,911 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company's stock.

Incyte Trading Up 1.7%

Shares of INCY stock opened at $96.91 on Friday. 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 3.25 and a current ratio of 3.68. The company has a 50-day simple moving average of $95.71 and a two-hundred day simple moving average of $98.73. The company has a market capitalization of $19.36 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 0.93 and a beta of 0.79.

Incyte (NASDAQ:INCY - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the firm posted $1.16 EPS. The firm's quarterly revenue was up 20.9% compared to the same quarter last year. Research analysts anticipate that Incyte Corporation will post 6.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on INCY shares. Barclays restated an "overweight" rating on shares of Incyte in a report on Tuesday, March 24th. Wall Street Zen lowered shares of Incyte from a "strong-buy" rating to a "buy" rating in a report on Saturday, February 14th. Royal Bank Of Canada reduced their price objective on shares of Incyte from $95.00 to $92.00 and set a "sector perform" rating for the company in a research report on Wednesday, February 11th. Stifel Nicolaus upped their price objective on shares of Incyte from $120.00 to $123.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Piper Sandler upped their price objective 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. Ten investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $104.26.

Insiders Place Their Bets

In other Incyte news, insider Pablo J. Cagnoni sold 18,667 shares of the business's stock in a transaction dated 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 transaction, the insider directly owned 262,692 shares in the company, valued at $25,349,778. The trade was a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.80% of the stock is currently owned by insiders.

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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