Toronto Dominion Bank Buys 2,643 Shares of Incyte Co. (NASDAQ:INCY)

Toronto Dominion Bank raised its stake in Incyte Co. (NASDAQ:INCY) by 2.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 127,178 shares of the biopharmaceutical company’s stock after buying an additional 2,643 shares during the quarter. Toronto Dominion Bank owned about 0.06% of Incyte worth $10,802,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in INCY. Commonwealth Bank of Australia lifted its position in shares of Incyte by 49.2% in the second quarter. Commonwealth Bank of Australia now owns 376 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 124 shares in the last quarter. Securian Asset Management Inc lifted its position in shares of Incyte by 0.7% in the second quarter. Securian Asset Management Inc now owns 18,419 shares of the biopharmaceutical company’s stock worth $1,565,000 after purchasing an additional 133 shares in the last quarter. ETF Managers Group LLC lifted its position in shares of Incyte by 9.8% in the first quarter. ETF Managers Group LLC now owns 1,717 shares of the biopharmaceutical company’s stock worth $148,000 after purchasing an additional 153 shares in the last quarter. World Asset Management Inc lifted its position in shares of Incyte by 1.5% in the second quarter. World Asset Management Inc now owns 11,545 shares of the biopharmaceutical company’s stock worth $981,000 after purchasing an additional 174 shares in the last quarter. Finally, Hartford Investment Management Co. lifted its position in shares of Incyte by 1.1% in the second quarter. Hartford Investment Management Co. now owns 19,482 shares of the biopharmaceutical company’s stock worth $1,655,000 after purchasing an additional 206 shares in the last quarter. 92.65% of the stock is currently owned by hedge funds and other institutional investors.

In other Incyte news, EVP Paula J. Swain sold 2,500 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $80.00, for a total value of $200,000.00. Following the transaction, the executive vice president now directly owns 39,013 shares in the company, valued at $3,121,040. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Steven H. Stein sold 8,357 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $87.96, for a total transaction of $735,081.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 118,540 shares of company stock worth $9,829,776. Corporate insiders own 17.10% of the company’s stock.

A number of analysts have recently commented on the stock. BMO Capital Markets assumed coverage on shares of Incyte in a research report on Thursday. They issued a “market perform” rating and a $85.00 price objective on the stock. Nomura boosted their price objective on shares of Incyte from $100.00 to $111.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Credit Suisse Group assumed coverage on shares of Incyte in a research report on Monday, May 20th. They issued a “neutral” rating and a $75.00 price objective on the stock. BidaskClub lowered shares of Incyte from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Finally, Piper Jaffray Companies reissued a “buy” rating on shares of Incyte in a research report on Monday, June 17th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Incyte presently has a consensus rating of “Buy” and an average price target of $91.30.

INCY traded up $0.36 during trading on Friday, reaching $76.43. 1,380,383 shares of the stock were exchanged, compared to its average volume of 1,075,932. The stock has a market cap of $16.36 billion, a P/E ratio of 93.21 and a beta of 1.09. Incyte Co. has a twelve month low of $57.00 and a twelve month high of $89.30. The stock’s 50 day moving average price is $81.60 and its two-hundred day moving average price is $81.77. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.59 and a current ratio of 5.61.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.37. Incyte had a net margin of 15.25% and a return on equity of 17.10%. The business had revenue of $529.93 million for the quarter, compared to the consensus estimate of $498.57 million. During the same period in the previous year, the company earned $0.63 earnings per share. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. Equities research analysts predict that Incyte Co. will post 1.98 earnings per share for the current fiscal year.

Incyte Company Profile

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

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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