Swiss National Bank raised its stake in Incyte Corporation (NASDAQ:INCY) by 3.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 641,700 shares of the biopharmaceutical company’s stock after acquiring an additional 18,700 shares during the period. Swiss National Bank owned about 304,065.58% of Incyte Corporation worth $74,912,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. D. Scott Neal Inc. acquired a new position in Incyte Corporation in the second quarter worth $103,000. Cornerstone Advisors Inc. lifted its stake in shares of Incyte Corporation by 19.6% during the second quarter. Cornerstone Advisors Inc. now owns 884 shares of the biopharmaceutical company’s stock valued at $111,000 after acquiring an additional 145 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Incyte Corporation by 13.8% during the second quarter. Tower Research Capital LLC TRC now owns 891 shares of the biopharmaceutical company’s stock valued at $112,000 after acquiring an additional 108 shares during the period. Exane Asset Management acquired a new position in shares of Incyte Corporation during the second quarter valued at $126,000. Finally, Seven Eight Capital LP acquired a new position in shares of Incyte Corporation during the second quarter valued at $129,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.
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INCY has been the subject of several recent analyst reports. Raymond James Financial, Inc. upgraded Incyte Corporation from a “market perform” rating to an “outperform” rating and set a $159.00 price target for the company in a report on Monday, September 11th. J P Morgan Chase & Co reiterated a “buy” rating and set a $149.00 price objective on shares of Incyte Corporation in a report on Thursday, August 31st. Oppenheimer Holdings, Inc. restated a “hold” rating and issued a $135.00 price target on shares of Incyte Corporation in a research note on Thursday, August 31st. BMO Capital Markets restated an “outperform” rating and issued a $172.00 price target on shares of Incyte Corporation in a research note on Monday, August 28th. Finally, Argus reaffirmed a “buy” rating and issued a $150.00 price objective on shares of Incyte Corporation in a research report on Wednesday, September 13th. Seven research 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 company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $144.98.
In other news, EVP Eric H. Siegel sold 1,820 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $137.40, for a total transaction of $250,068.00. Following the completion of the sale, the executive vice president now owns 23,553 shares of the company’s stock, valued at approximately $3,236,182.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 transaction, the executive vice president now owns 15,496 shares in the company, valued at approximately $1,925,378. The disclosure for this sale can be found here. Insiders have sold 102,062 shares of company stock valued at $12,652,893 in the last three months. 17.70% of the stock is owned by insiders.
Shares of Incyte Corporation (NASDAQ:INCY) opened at $104.76 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.81 and a current ratio of 4.82. Incyte Corporation has a 12 month low of $98.49 and a 12 month high of $153.15.
Incyte Corporation (NASDAQ:INCY) last released its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.11. Incyte Corporation had a negative net margin of 10.90% and a negative return on equity of 12.91%. The firm had revenue of $381.50 million during the quarter, compared to analyst estimates of $360.34 million. During the same period last year, the business earned $0.19 earnings per share. The business’s revenue was up 41.6% on a year-over-year basis. research analysts anticipate that Incyte Corporation will post -1.3 EPS for the current year.
Incyte Corporation 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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