Great Lakes Advisors LLC acquired a new stake in Incyte Co. (NASDAQ:INCY) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,504 shares of the biopharmaceutical company’s stock, valued at approximately $201,000.
Several other hedge funds and other institutional investors also recently modified their holdings of INCY. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Incyte by 1.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,322 shares of the biopharmaceutical company’s stock valued at $133,000 after buying an additional 22 shares during the period. IFP Advisors Inc increased its position in shares of Incyte by 6.8% in the first quarter. IFP Advisors Inc now owns 1,043 shares of the biopharmaceutical company’s stock valued at $139,000 after buying an additional 66 shares during the period. Howard Hughes Medical Institute increased its position in shares of Incyte by 42.2% in the first quarter. Howard Hughes Medical Institute now owns 1,210 shares of the biopharmaceutical company’s stock valued at $162,000 after buying an additional 359 shares during the period. Douglass Winthrop Advisors LLC acquired a new position in shares of Incyte during the first quarter valued at $201,000. Finally, Norris Perne & French LLP MI acquired a new position in shares of Incyte during the first quarter valued at $201,000. Hedge funds and other institutional investors own 92.62% of the company’s stock.
Incyte Co. (NASDAQ:INCY) opened at 138.10 on Thursday. The firm has a 50-day moving average of $126.82 and a 200-day moving average of $120.55. Incyte Co. has a one year low of $71.75 and a one year high of $153.15. The firm’s market cap is $28.28 billion.
Incyte (NASDAQ:INCY) last posted its earnings results on Thursday, May 4th. The biopharmaceutical company reported ($0.96) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.01. Incyte had a net margin of 14.71% and a return on equity of 50.38%. The business had revenue of $384.08 million for the quarter, compared to analyst estimates of $359.19 million. During the same period last year, the business posted $0.12 EPS. Incyte’s revenue was up 45.8% compared to the same quarter last year. Analysts anticipate that Incyte Co. will post ($0.76) EPS for the current year.
INCY has been the subject of several analyst reports. TheStreet upgraded Incyte from a “c” rating to a “b-” rating in a report on Tuesday, February 14th. Goldman Sachs Group Inc boosted their price target on Incyte from $116.00 to $149.00 and gave the company a “buy” rating in a report on Friday, January 27th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $136.00 price target on shares of Incyte in a report on Thursday, February 16th. Jefferies Group LLC boosted their price target on Incyte from $136.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday, February 15th. Finally, Instinet initiated coverage on Incyte in a report on Wednesday, March 1st. They issued a “buy” rating and a $148.00 price target for the company. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Incyte has a consensus rating of “Buy” and a consensus target price of $139.93.
In other Incyte news, Director Paul A. Friedman sold 50,000 shares of the firm’s stock in a transaction on Friday, March 17th. The shares were sold at an average price of $148.72, for a total value of $7,436,000.00. Following the sale, the director now directly owns 302,976 shares in the company, valued at approximately $45,058,590.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jean Jacques Bienaime purchased 500 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was bought at an average price of $115.00 per share, for a total transaction of $57,500.00. Following the completion of the transaction, the director now directly owns 4,177 shares in the company, valued at $480,355. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 3,000 shares of company stock worth $398,770 and sold 137,968 shares worth $19,395,245. Company insiders own 13.70% of the company’s stock.
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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