Jefferies Financial Group Inc. Makes New Investment in Incyte Co. (NASDAQ:INCY)

Jefferies Financial Group Inc. acquired a new position in Incyte Co. (NASDAQ:INCY - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 42,777 shares of the biopharmaceutical company's stock, valued at approximately $2,955,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quintet Private Bank Europe S.A. purchased a new position in shares of Incyte in the 4th quarter valued at approximately $26,000. Global X Japan Co. Ltd. lifted its stake in shares of Incyte by 144.7% in the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 230 shares during the period. R Squared Ltd purchased a new position in shares of Incyte in the 4th quarter valued at approximately $30,000. Blue Trust Inc. lifted its stake in shares of Incyte by 124.6% in the 4th quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company's stock valued at $39,000 after purchasing an additional 329 shares during the period. Finally, Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Incyte in the 4th quarter valued at approximately $42,000. Hedge funds and other institutional investors own 96.97% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on INCY. JPMorgan Chase & Co. lowered their price objective on Incyte from $70.00 to $68.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Wells Fargo & Company lifted their price objective on Incyte from $58.00 to $59.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 30th. William Blair cut Incyte from an "outperform" rating to a "market perform" rating in a research note on Tuesday, March 18th. Royal Bank of Canada lifted their price objective on Incyte from $64.00 to $67.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 30th. Finally, Guggenheim cut Incyte from a "buy" rating to a "neutral" rating and set a $92.00 price objective for the company. in a research note on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $73.53.

Incyte Stock Up 0.9%

Shares of INCY stock traded up $0.55 during mid-day trading on Friday, hitting $63.31. The company's stock had a trading volume of 1,330,051 shares, compared to its average volume of 2,321,935. Incyte Co. has a 52-week low of $53.56 and a 52-week high of $83.95. The business has a 50-day moving average price of $60.49 and a 200 day moving average price of $68.47. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. The stock has a market cap of $12.25 billion, a price-to-earnings ratio of 234.49, a PEG ratio of 0.41 and a beta of 0.68.

Incyte (NASDAQ:INCY - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.15. Incyte had a return on equity of 0.05% and a net margin of 0.77%. The firm had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $996.17 million. During the same quarter in the previous year, the business earned $0.64 earnings per share. The company's revenue was up 19.5% on a year-over-year basis. Research analysts predict that Incyte Co. will post 4.86 EPS for the current fiscal year.

Insider Activity at Incyte

In related news, EVP Sheila A. Denton sold 14,069 shares of the company's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $74.07, for a total transaction of $1,042,090.83. Following the completion of the sale, the executive vice president now owns 25,848 shares in the company, valued at approximately $1,914,561.36. This represents a 35.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Barry P. Flannelly sold 19,807 shares of the company's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $67.69, for a total value of $1,340,735.83. Following the sale, the executive vice president now owns 33,567 shares of the company's stock, valued at approximately $2,272,150.23. This trade represents a 37.11% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,475 shares of company stock worth $2,424,751. 17.80% of the stock is owned by insiders.

About Incyte

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.