Capital Fund Management S.A. reduced its holdings in Incyte Corporation (NASDAQ:INCY) by 74.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,828 shares of the biopharmaceutical company’s stock after selling 27,987 shares during the period. Capital Fund Management S.A.’s holdings in Incyte Corporation were worth $1,237,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of INCY. US Bancorp DE grew its stake in shares of Incyte Corporation by 67.1% in the 1st quarter. US Bancorp DE now owns 2,931 shares of the biopharmaceutical company’s stock worth $392,000 after buying an additional 1,177 shares in the last quarter. UBS Asset Management Americas Inc. grew its stake in shares of Incyte Corporation by 23.9% in the 1st quarter. UBS Asset Management Americas Inc. now owns 1,477,461 shares of the biopharmaceutical company’s stock worth $197,492,000 after buying an additional 284,796 shares in the last quarter. Gabelli Funds LLC purchased a new position in shares of Incyte Corporation in the 1st quarter worth $1,109,000. Sei Investments Co. grew its stake in shares of Incyte Corporation by 49.0% in the 1st quarter. Sei Investments Co. now owns 27,387 shares of the biopharmaceutical company’s stock worth $3,661,000 after buying an additional 9,012 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its stake in shares of Incyte Corporation by 22.0% in the 1st quarter. Parametric Portfolio Associates LLC now owns 175,657 shares of the biopharmaceutical company’s stock worth $23,480,000 after buying an additional 31,727 shares in the last quarter. 91.06% of the stock is owned by institutional investors and hedge funds.
Incyte Corporation (NASDAQ INCY) opened at 119.78 on Friday. Incyte Corporation has a 52-week low of $79.75 and a 52-week high of $153.15. The firm’s 50-day moving average is $127.79 and its 200-day moving average is $130.32. The stock’s market cap is $24.64 billion.
Incyte Corporation (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.01). The business had revenue of $326.40 million for the quarter, compared to analyst estimates of $318.45 million. Incyte Corporation had a negative return on equity of 21.57% and a negative net margin of 11.77%. The firm’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.18 EPS. Equities research analysts predict that Incyte Corporation will post ($0.84) earnings per share for the current year.
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A number of equities analysts have commented on INCY shares. Oppenheimer Holdings, Inc. reissued a “hold” rating and issued a $135.00 price objective on shares of Incyte Corporation in a research note on Thursday, August 31st. BMO Capital Markets restated a “buy” rating and issued a $172.00 target price on shares of Incyte Corporation in a report on Friday, July 21st. Barclays PLC restated an “overweight” rating and issued a $165.00 target price (down previously from $180.00) on shares of Incyte Corporation in a report on Wednesday, August 2nd. Royal Bank Of Canada initiated coverage on shares of Incyte Corporation in a report on Thursday. They issued a “sector perform” rating and a $136.00 target price for the company. Finally, Raymond James Financial, Inc. upgraded shares of Incyte Corporation from a “market perform” rating to an “outperform” rating and set a $159.00 target price for the company in a report on Monday. Eight research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Incyte Corporation has an average rating of “Buy” and a consensus target price of $142.16.
In other news, Director Bros. Advisors Lp Baker bought 100,000 shares of Incyte Corporation stock in a transaction that occurred on Friday, September 8th. The shares were purchased at an average price of $132.00 per share, with a total value of $13,200,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David W. Gryska sold 599 shares of the firm’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $129.74, for a total transaction of $77,714.26. Following the completion of the sale, the insider now directly owns 19,614 shares in the company, valued at approximately $2,544,720.36. The disclosure for this sale can be found here. Insiders have sold 53,538 shares of company stock worth $7,118,269 in the last three months. Corporate 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).
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