US Bancorp DE raised its stake in Incyte Corporation (NASDAQ:INCY) by 26.0% during the second quarter, Holdings Channel reports. The fund owned 3,694 shares of the biopharmaceutical company’s stock after buying an additional 763 shares during the period. US Bancorp DE’s holdings in Incyte Corporation were worth $465,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. D. Scott Neal Inc. purchased a new stake in shares of Incyte Corporation during the second quarter valued at $103,000. Tower Research Capital LLC TRC purchased a new stake in shares of Incyte Corporation during the first quarter valued at $105,000. Exane Asset Management purchased a new stake in shares of Incyte Corporation during the second quarter valued at $126,000. FNY Partners Fund LP increased its stake in shares of Incyte Corporation by 4,825.0% in the first quarter. FNY Partners Fund LP now owns 985 shares of the biopharmaceutical company’s stock valued at $131,000 after buying an additional 965 shares during the last quarter. Finally, IFP Advisors Inc increased its stake in shares of Incyte Corporation 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 last quarter. 91.54% of the stock is currently owned by institutional investors.
Shares of Incyte Corporation (NASDAQ:INCY) traded up 0.27% during trading on Friday, reaching $122.07. 423,614 shares of the company’s stock were exchanged. The firm’s market capitalization is $25.11 billion. The company’s 50-day moving average price is $129.91 and its 200 day moving average price is $129.52. Incyte Corporation has a 52 week low of $75.52 and a 52 week high of $153.15.
Incyte Corporation (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 business had revenue of $326.40 million for the quarter, compared to the consensus estimate of $318.45 million. During the same quarter last year, the business posted $0.18 EPS. The business’s revenue for the quarter was up 32.5% on a year-over-year basis. Analysts predict that Incyte Corporation will post ($0.86) EPS for the current fiscal year.
Several analysts have recently weighed in on INCY shares. BMO Capital Markets reaffirmed a “buy” rating and issued a $172.00 target price on shares of Incyte Corporation in a report on Friday, July 21st. Barclays PLC reaffirmed an “overweight” rating and issued a $165.00 target price (down previously from $180.00) on shares of Incyte Corporation in a report on Wednesday, August 2nd. TheStreet downgraded shares of Incyte Corporation from a “c+” rating to a “d+” rating in a report on Thursday, May 4th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $148.00 target price on shares of Incyte Corporation in a report on Tuesday, June 20th. Finally, Zacks Investment Research downgraded shares of Incyte Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, April 25th. Eight research 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 a consensus rating of “Buy” and a consensus price target of $140.16.
In other Incyte Corporation news, Director Jean Jacques Bienaime acquired 500 shares of Incyte Corporation stock in a transaction dated Wednesday, May 31st. The stock was bought at an average price of $131.80 per share, for a total transaction of $65,900.00. Following the transaction, the director now owns 4,677 shares in the company, valued at approximately $616,428.60. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Paul Trower sold 3,000 shares of the firm’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $132.50, for a total transaction of $397,500.00. Following the transaction, the insider now owns 13,950 shares of the company’s stock, valued at approximately $1,848,375. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,183 shares of company stock valued at $5,976,946. 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).
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