The Boston Advisors LLC Sells 1,510 Shares of Incyte Corporation (INCY)

The Boston Advisors LLC Sells 1,510 Shares of Incyte Corporation (INCY)

Boston Advisors LLC lessened its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 0.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 166,950 shares of the biopharmaceutical company’s stock after selling 1,510 shares during the quarter. Boston Advisors LLC owned approximately 0.08% of Incyte Corporation worth $19,490,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Wetherby Asset Management Inc. raised its position in shares of Incyte Corporation by 1.4% in the second quarter. Wetherby Asset Management Inc. now owns 1,672 shares of the biopharmaceutical company’s stock valued at $211,000 after purchasing an additional 23 shares during the period. Nordea Investment Management AB raised its position in shares of Incyte Corporation by 0.8% in the second quarter. Nordea Investment Management AB now owns 8,179 shares of the biopharmaceutical company’s stock valued at $1,030,000 after purchasing an additional 67 shares during the period. Grandfield & Dodd LLC raised its position in shares of Incyte Corporation by 1.2% in the second quarter. Grandfield & Dodd LLC now owns 7,383 shares of the biopharmaceutical company’s stock valued at $930,000 after purchasing an additional 85 shares during the period. IFP Advisors Inc raised its position in shares of Incyte Corporation by 9.9% in the second quarter. IFP Advisors Inc now owns 1,146 shares of the biopharmaceutical company’s stock valued at $144,000 after purchasing an additional 103 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in shares of Incyte Corporation by 13.8% in the second quarter. Tower Research Capital LLC TRC now owns 891 shares of the biopharmaceutical company’s stock valued at $112,000 after purchasing an additional 108 shares during the period. 88.89% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have recently commented on the stock. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Incyte Corporation in a research report on Friday, October 6th. They issued a “buy” rating and a $160.00 price target on the stock. Jefferies Group LLC reissued a “buy” rating on shares of Incyte Corporation in a research report on Friday, October 6th. Royal Bank Of Canada assumed coverage on shares of Incyte Corporation in a research report on Thursday, September 14th. They issued a “sector perform” rating and a $136.00 price target on the stock. Argus reissued a “buy” rating and issued a $150.00 price target on shares of Incyte Corporation in a research report on Wednesday, September 13th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating and issued a $135.00 price target on shares of Incyte Corporation in a research report on Sunday, September 10th. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $144.84.

In other news, EVP Barry P. Flannelly sold 714 shares of Incyte Corporation stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $124.25, for a total transaction of $88,714.50. Following the sale, the executive vice president now directly owns 15,496 shares of the company’s stock, valued at $1,925,378. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Herve Hoppenot sold 70,502 shares of Incyte Corporation stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $119.45, for a total value of $8,421,463.90. The disclosure for this sale can be found here. Insiders have sold 102,967 shares of company stock worth $12,857,016 over the last three months. Insiders own 17.70% of the company’s stock.

Shares of Incyte Corporation (NASDAQ:INCY) traded up 0.72% during midday trading on Thursday, hitting $115.37. 879,928 shares of the stock traded hands. The company’s market capitalization is $23.73 billion. Incyte Corporation has a 1-year low of $83.01 and a 1-year high of $153.15. The stock has a 50 day moving average of $116.69 and a 200 day moving average of $124.81.

Incyte Corporation (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.01). Incyte Corporation had a negative net margin of 11.77% and a negative return on equity of 21.57%. The firm had revenue of $326.40 million for the quarter, compared to analyst estimates of $318.45 million. During the same period in the previous year, the business posted $0.18 earnings per share. The business’s revenue for the quarter was up 32.5% compared to the same quarter last year. Equities research analysts predict that Incyte Corporation will post ($0.81) earnings per share for the current fiscal year.

Incyte Corporation Company Profile

Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).

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