Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Incyte Corporation (NASDAQ:INCY) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 20,156 shares of the biopharmaceutical company’s stock, valued at approximately $2,538,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of INCY. State Street Corp grew its position in Incyte Corporation by 110.7% during the first quarter. State Street Corp now owns 7,581,684 shares of the biopharmaceutical company’s stock valued at $1,013,437,000 after buying an additional 3,983,207 shares during the period. Vanguard Group Inc. grew its position in Incyte Corporation by 22.7% during the first quarter. Vanguard Group Inc. now owns 15,415,857 shares of the biopharmaceutical company’s stock valued at $2,060,638,000 after buying an additional 2,847,907 shares during the period. Victory Capital Management Inc. bought a new position in Incyte Corporation during the first quarter valued at about $85,751,000. Geode Capital Management LLC grew its position in Incyte Corporation by 42.0% during the first quarter. Geode Capital Management LLC now owns 1,780,064 shares of the biopharmaceutical company’s stock valued at $237,618,000 after buying an additional 526,163 shares during the period. Finally, Jennison Associates LLC grew its position in Incyte Corporation by 64.1% during the second quarter. Jennison Associates LLC now owns 1,313,982 shares of the biopharmaceutical company’s stock valued at $165,443,000 after buying an additional 513,423 shares during the period. Institutional investors own 91.06% of the company’s stock.
Shares of Incyte Corporation (INCY) opened at 119.15 on Friday. Incyte Corporation has a one year low of $81.49 and a one year high of $153.15. The stock has a 50 day moving average of $127.40 and a 200-day moving average of $130.21. The stock’s market capitalization is $24.51 billion.
Incyte Corporation (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.01). The company had revenue of $326.40 million for the quarter, compared to the consensus estimate of $318.45 million. Incyte Corporation had a negative net margin of 11.77% and a negative return on equity of 21.57%. The company’s revenue was up 32.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.18 earnings per share. Equities analysts forecast that Incyte Corporation will post ($0.84) earnings per share for the current year.
In other Incyte Corporation news, Director Bros. Advisors Lp Baker purchased 100,000 shares of the stock in a transaction that occurred on Friday, September 8th. The shares were bought at an average cost of $132.00 per share, with a total value of $13,200,000.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Steven H. Stein sold 9,883 shares of the business’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $125.00, for a total value of $1,235,375.00. Following the completion of the transaction, the executive vice president now directly owns 18,518 shares in the company, valued at $2,314,750. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,252 shares of company stock valued at $7,206,984. 17.70% of the stock is currently owned by corporate insiders.
Several research firms recently weighed in on INCY. BidaskClub lowered shares of Incyte Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Royal Bank Of Canada began coverage on shares of Incyte Corporation in a research report on Thursday. They set a “sector perform” rating and a $136.00 price target for the company. Argus restated a “buy” rating and set a $150.00 price target on shares of Incyte Corporation in a research report on Wednesday. BMO Capital Markets restated an “outperform” rating and set a $163.00 price target (down previously from $172.00) on shares of Incyte Corporation in a research report on Monday, September 11th. Finally, Credit Suisse Group restated a “buy” rating on shares of Incyte Corporation in a research report on Saturday, June 10th. Eight analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $142.16.
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About Incyte Corporation
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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