Teachers Advisors LLC raised its position in shares of Incyte Co. (NASDAQ:INCY) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 454,491 shares of the biopharmaceutical company’s stock after buying an additional 27,718 shares during the period. Teachers Advisors LLC owned 0.24% of Incyte worth $45,572,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of the stock. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Incyte by 0.7% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 466,221 shares of the biopharmaceutical company’s stock worth $43,960,000 after buying an additional 3,223 shares during the period. Old Mutual Global Investors UK Ltd. bought a new position in shares of Incyte during the third quarter worth approximately $14,626,000. Chicago Equity Partners LLC bought a new position in shares of Incyte during the third quarter worth approximately $857,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of Incyte by 2.1% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 29,018 shares of the biopharmaceutical company’s stock worth $2,736,000 after buying an additional 592 shares during the period. Finally, Shell Asset Management Co. boosted its position in shares of Incyte by 76.7% in the third quarter. Shell Asset Management Co. now owns 19,666 shares of the biopharmaceutical company’s stock worth $1,854,000 after buying an additional 8,539 shares during the period. Hedge funds and other institutional investors own 92.62% of the company’s stock.
Shares of Incyte Co. (NASDAQ:INCY) traded up 0.15% during midday trading on Thursday, hitting $124.73. The stock had a trading volume of 946,336 shares. The firm has a market cap of $23.62 billion, a price-to-earnings ratio of 230.98 and a beta of 0.78. Incyte Co. has a 52-week low of $68.03 and a 52-week high of $153.15. The firm’s 50 day moving average price is $139.05 and its 200 day moving average price is $114.33.
Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, February 14th. The biopharmaceutical company reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.09. The business had revenue of $326 million for the quarter, compared to analyst estimates of $324.90 million. Incyte had a net margin of 14.71% and a return on equity of 50.38%. The business’s revenue was up 33.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.29 EPS. On average, equities research analysts expect that Incyte Co. will post $0.18 earnings per share for the current year.
Several equities analysts have recently issued reports on the company. Raymond James Financial, Inc. cut Incyte from an “outperform” rating to a “hold” rating in a research note on Thursday, April 6th. Zacks Investment Research upgraded Incyte from a “sell” rating to a “hold” rating in a research report on Tuesday. SunTrust Banks, Inc. restated a “buy” rating and set a $145.00 price target (down from $160.00) on shares of Incyte in a research report on Wednesday. Gabelli initiated coverage on Incyte in a research report on Monday, April 10th. They set a “buy” rating and a $185.00 price target on the stock. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $149.00 price target (up from $135.00) on shares of Incyte in a report on Thursday, February 16th. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Incyte presently has a consensus rating of “Buy” and a consensus target price of $139.40.
In other news, Director Paul A. Friedman sold 50,000 shares of the business’s stock in a transaction dated Friday, March 17th. The shares were sold at an average price of $148.72, for a total value of $7,436,000.00. Following the completion of the sale, the director now owns 302,976 shares of the company’s stock, valued at approximately $45,058,590.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jean Jacques Bienaime bought 1,000 shares of the company’s stock in a transaction dated Friday, April 7th. The stock was bought at an average cost of $139.48 per share, with a total value of $139,480.00. Following the transaction, the director now directly owns 2,177 shares in the company, valued at approximately $303,647.96. The disclosure for this purchase can be found here. Insiders have sold a total of 127,571 shares of company stock worth $18,145,772 in the last 90 days. Company insiders own 13.70% of the company’s stock.
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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