Incyte Co. (INCY) Stake Lifted by Westpac Banking Corp

Westpac Banking Corp increased its holdings in shares of Incyte Co. (NASDAQ:INCY) by 547.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 68,666 shares of the biopharmaceutical company’s stock after acquiring an additional 58,061 shares during the period. Westpac Banking Corp’s holdings in Incyte were worth $4,743,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. State Board of Administration of Florida Retirement System lifted its position in shares of Incyte by 0.3% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 242,020 shares of the biopharmaceutical company’s stock valued at $16,719,000 after buying an additional 779 shares in the last quarter. Xact Kapitalforvaltning AB lifted its position in shares of Incyte by 2.4% during the 3rd quarter. Xact Kapitalforvaltning AB now owns 33,474 shares of the biopharmaceutical company’s stock valued at $2,312,000 after buying an additional 792 shares in the last quarter. Resources Investment Advisors Inc. lifted its position in shares of Incyte by 93.8% during the 2nd quarter. Resources Investment Advisors Inc. now owns 1,738 shares of the biopharmaceutical company’s stock valued at $116,000 after buying an additional 841 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Incyte by 4.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 19,192 shares of the biopharmaceutical company’s stock valued at $1,286,000 after buying an additional 850 shares in the last quarter. Finally, Gabelli Funds LLC lifted its position in shares of Incyte by 2.8% during the 3rd quarter. Gabelli Funds LLC now owns 36,900 shares of the biopharmaceutical company’s stock valued at $2,549,000 after buying an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

NASDAQ INCY opened at $64.25 on Friday. Incyte Co. has a 52 week low of $58.33 and a 52 week high of $102.63. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.01 and a current ratio of 4.02. The firm has a market cap of $13.79 billion, a PE ratio of 100.39 and a beta of 1.12.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, October 30th. The biopharmaceutical company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.02). Incyte had a positive return on equity of 2.23% and a negative net margin of 6.07%. The company had revenue of $449.68 million for the quarter, compared to analysts’ expectations of $448.34 million. During the same quarter in the prior year, the firm earned $0.19 EPS. The firm’s revenue was up 17.9% on a year-over-year basis. Sell-side analysts expect that Incyte Co. will post 0.43 earnings per share for the current fiscal year.

A number of brokerages have recently issued reports on INCY. BidaskClub upgraded Incyte from a “hold” rating to a “buy” rating in a research report on Friday, November 23rd. JPMorgan Chase & Co. set a $88.00 target price on Incyte and gave the company a “buy” rating in a research report on Tuesday, October 30th. Cowen reiterated a “buy” rating on shares of Incyte in a research report on Tuesday, October 30th. Raymond James reiterated a “buy” rating and set a $85.00 target price on shares of Incyte in a research report on Thursday, October 25th. Finally, Cantor Fitzgerald reiterated a “hold” rating and set a $74.00 target price (up previously from $73.00) on shares of Incyte in a research report on Sunday, October 21st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $94.48.

In other news, EVP Paula J. Swain sold 10,000 shares of Incyte stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $73.21, for a total transaction of $732,100.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jean Jacques Bienaime acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, November 8th. The shares were acquired at an average cost of $68.77 per share, with a total value of $68,770.00. Following the completion of the transaction, the director now directly owns 6,168 shares in the company, valued at approximately $424,173.36. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 21,000 shares of company stock worth $1,502,100. Insiders own 17.20% of the company’s stock.

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Incyte Company Profile

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States. It offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and ICLUSIG, a kinase inhibitor for the treatment of chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

Further Reading: Depreciation

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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