Several other hedge funds and other institutional investors also recently made changes to their positions in INCY. Teachers Retirement System of The State of Kentucky acquired a new position in Incyte Corporation during the first quarter valued at $9,255,000. Achmea Investment Management B.V. purchased a new stake in shares of Incyte Corporation during the first quarter valued at about $788,000. Tower Research Capital LLC TRC purchased a new stake in shares of Incyte Corporation during the first quarter valued at about $105,000. Bank of Nova Scotia raised its stake in shares of Incyte Corporation by 91.0% in the first quarter. Bank of Nova Scotia now owns 116,251 shares of the biopharmaceutical company’s stock valued at $15,539,000 after buying an additional 55,384 shares during the last quarter. Finally, FNY Partners Fund LP raised its stake in shares of Incyte Corporation by 4,825.0% in the first quarter. FNY Partners Fund LP now owns 985 shares of the biopharmaceutical company’s stock valued at $131,000 after buying an additional 965 shares during the last quarter. 91.73% of the stock is currently owned by institutional investors.
Clearbridge Investments LLC lowered its stake in shares of Incyte Corporation (NASDAQ:INCY) by 16.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 2,076 shares of the biopharmaceutical company’s stock after selling 395 shares during the period. Clearbridge Investments LLC’s holdings in Incyte Corporation were worth $277,000 as of its most recent SEC filing.
Incyte Corporation (NASDAQ:INCY) traded down 0.98% during trading on Tuesday, hitting $130.70. The stock had a trading volume of 650,092 shares. The company’s 50 day moving average is $130.84 and its 200 day moving average is $128.99. Incyte Corporation has a 52-week low of $75.52 and a 52-week high of $153.15. The firm’s market cap is $26.89 billion.
Incyte Corporation (NASDAQ:INCY) last released its quarterly earnings data 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. The business had revenue of $326.40 million during the quarter, compared to analyst estimates of $318.45 million. Incyte Corporation had a negative net margin of 11.77% and a negative return on equity of 21.57%. The firm’s revenue was up 32.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.18 EPS. Equities research analysts forecast that Incyte Corporation will post ($0.85) earnings per share for the current year.
Several brokerages have issued reports on INCY. Oppenheimer Holdings, Inc. set a $125.00 target price on Incyte Corporation and gave the company a “hold” rating in a research note on Thursday, May 18th. BMO Capital Markets boosted their price objective on Incyte Corporation from $144.00 to $146.00 and gave the company an “outperform” rating in a research note on Friday, May 5th. TheStreet lowered Incyte Corporation from a “b-” rating to a “c+” rating in a research note on Monday, April 17th. Credit Suisse Group set a $167.00 target price on Incyte Corporation and gave the stock a “buy” rating in a research note on Wednesday, April 19th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $148.00 target price (down from $165.00) on shares of Incyte Corporation in a research note on Monday, April 17th. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $140.39.
In related news, EVP Steven H. Stein sold 9,883 shares of the stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $125.00, for a total transaction of $1,235,375.00. Following the completion of the transaction, the executive vice president now owns 18,518 shares of the company’s stock, valued at approximately $2,314,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David W. Gryska sold 16,756 shares of the stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $116.60, for a total transaction of $1,953,749.60. Following the transaction, the chief financial officer now directly owns 35,771 shares of the company’s stock, valued at approximately $4,170,898.60. The disclosure for this sale can be found here. Insiders have sold a total of 48,183 shares of company stock valued at $5,976,946 in the last 90 days. Insiders own 17.70% of the company’s stock.
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).