TIAA CREF Investment Management LLC Sells 11,975 Shares of Incyte Corporation (INCY)

TIAA CREF Investment Management LLC lessened its stake in shares of Incyte Corporation (NASDAQ:INCY) by 1.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 698,186 shares of the biopharmaceutical company’s stock after selling 11,975 shares during the quarter. TIAA CREF Investment Management LLC owned 0.34% of Incyte Corporation worth $87,909,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of INCY. Quantbot Technologies LP lifted its stake in shares of Incyte Corporation by 30,032.7% in the first quarter. Quantbot Technologies LP now owns 14,765 shares of the biopharmaceutical company’s stock worth $1,973,000 after acquiring an additional 14,716 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Incyte Corporation by 9.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 27,147 shares of the biopharmaceutical company’s stock worth $3,418,000 after acquiring an additional 2,455 shares in the last quarter. Calamos Advisors LLC lifted its stake in shares of Incyte Corporation by 37.7% in the second quarter. Calamos Advisors LLC now owns 113,132 shares of the biopharmaceutical company’s stock worth $14,244,000 after acquiring an additional 30,990 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Incyte Corporation by 11.5% in the first quarter. Legal & General Group Plc now owns 738,591 shares of the biopharmaceutical company’s stock worth $98,727,000 after acquiring an additional 76,447 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its stake in shares of Incyte Corporation by 23.3% in the second quarter. Pacer Advisors Inc. now owns 7,111 shares of the biopharmaceutical company’s stock worth $895,000 after acquiring an additional 1,345 shares in the last quarter. Institutional investors own 91.06% of the company’s stock.

Shares of Incyte Corporation (NASDAQ INCY) opened at 119.15 on Friday. The firm’s market capitalization is $24.51 billion. Incyte Corporation has a 52-week low of $81.49 and a 52-week high of $153.15. The firm has a 50-day moving average price of $127.40 and a 200-day moving average price of $130.21.

Incyte Corporation (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $326.40 million during the quarter, compared to analyst estimates of $318.45 million. During the same period in the prior year, the business earned $0.18 EPS. The business’s revenue for the quarter was up 32.5% on a year-over-year basis. On average, equities research analysts anticipate that Incyte Corporation will post ($0.84) EPS for the current year.

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Several research analysts recently commented on INCY shares. Cowen and Company reiterated a “buy” rating on shares of Incyte Corporation in a research note on Monday, June 5th. BidaskClub upgraded Incyte Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Jefferies Group LLC reiterated a “buy” rating and issued a $148.00 price target on shares of Incyte Corporation in a research note on Tuesday, June 20th. Credit Suisse Group reiterated a “buy” rating on shares of Incyte Corporation in a research note on Saturday, June 10th. Finally, Gabelli reiterated a “buy” rating and issued a $174.00 price target on shares of Incyte Corporation in a research note on Wednesday, June 28th. Eight investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $142.16.

In other Incyte Corporation news, EVP Barry P. Flannelly sold 714 shares of Incyte Corporation stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $124.25, for a total transaction of $88,714.50. Following the completion of the sale, the executive vice president now owns 15,496 shares of the company’s stock, valued at approximately $1,925,378. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Paula J. Swain sold 20,000 shares of Incyte Corporation stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $140.00, for a total transaction of $2,800,000.00. Following the sale, the executive vice president now directly owns 55,067 shares of the company’s stock, valued at approximately $7,709,380. The disclosure for this sale can be found here. Insiders have sold a total of 54,252 shares of company stock valued at $7,206,984 in the last ninety days. Company 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).

Institutional Ownership by Quarter for Incyte Corporation (NASDAQ:INCY)

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