Is Incyte Corporation (INCY) A Stock To Be Permanently Long On?

Incyte Corporation (NASDAQ:INCY) is on recovery track with 19.4% gain from a 1-year low price of $57. The company added 7.08% to attain the price of $68.06 on 01/03/2019. Throughout the recent session, the prices were hovering between $64.4 and $69.61. These shares are 22.94% off its target price of $83.67 and the current market capitalization stands at $14.53B. The recent change has given its price a 5.03% lead over SMA 50 and -33.68% deficit over its 52-week high. The stock witnessed 5.93% gains, -2.56% declines and -0.32% declines for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found INCY’s volatility during a week at 4.64% and during a month it has been found around 4.61%.

Incyte Corporation (INCY) Top Holders

Institutional investors currently hold around $12.29 billion or 94.1% in INCY stock. Look at its top three institutional owners. Baker Bros. Advisors Lp owns $2.18 billion in Incyte Corporation, which represents roughly 14.98% of the company’s market cap and approximately 17.72% of the institutional ownership. Similar statistics are true for the second largest owner, Vanguard Group Inc, which owns 18,380,804 shares of the stock are valued at $1.17 billion. The third largest holder is Blackrock Inc., which currently holds $959.45 million worth of this stock and that ownership represents nearly 6.6% of its market capitalization.

Incyte Corporation 13F Filings

At the end of September reporting period, 231 institutional holders increased their position in Incyte Corporation (NASDAQ:INCY) by some 12,381,148 shares, 201 decreased positions by 13,746,239 and 72 held positions by 167,203,843. That puts total institutional holdings at 193,331,230 shares, according to SEC filings. The stock grabbed 57 new institutional investments totaling 4,767,266 shares while 45 institutional investors sold out their entire positions totaling 1,811,402 shares.

Incyte Corporation (NASDAQ:INCY) Insider Trades

Multiple company employees have indulged in significant insider trading. Incyte Corporation disclosed in a document filed with the US Securities and Exchange Commission (SEC) that Director Bienaime Jean Jacques has acquired 1,000 shares of Incyte Corporation (INCY) in trading session dated Nov. 08, 2018. These shares are worth $68,770 and were traded at $68.77 each. The SEC filing shows that Flannelly Barry P performed a sale of 1,000 shares. The EVP & General Manager US disposed these shares by way of transaction on Oct. 03, 2018. The company’s shares were given away at $70 per share worth to an income of some $70,000 on account of Flannelly Barry P.

EVP, Human Resources, Swain Paula J, sold 10,000 common shares of Incyte Corporation (INCY) in the open market. In a transaction dated Oct. 03, 2018, the shares were put up for sale at an average price of $70, raking in a sum of $700,000. After this sale, 32,324 common shares of INCY are directly owned by the insider, with total stake valued at $2,199,971.

In the transaction dated Oct. 03, 2018, the great number of shares disposed came courtesy the Principal Accounting Officer; Trower Paul disposed a total of 10,000 shares at an average price of $70, amounting to approximately $700,000. The insider now directly owns 14,172 shares worth $964,546.

Incyte Corporation (INCY) Analyst Guide

Several analysts have released their opinion on Incyte Corporation (NASDAQ:INCY), with 4 analysts believing it is a strong buy. Whereas 8 of them predict the stock is a hold. Also, there are 8 buy, 0 sell and 0 strong sell ratings, collectively assigning a 2.2 average brokerage recommendation.