Stifel Financial Corp Sells 11,716 Shares of Incyte Corporation (INCY)

Stifel Financial Corp cut its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 34.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,581 shares of the biopharmaceutical company’s stock after selling 11,716 shares during the period. Stifel Financial Corp’s holdings in Incyte Corporation were worth $2,842,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bamco Inc. NY bought a new position in shares of Incyte Corporation during the second quarter valued at approximately $1,334,000. Veritable L.P. boosted its stake in shares of Incyte Corporation by 45.9% during the second quarter. Veritable L.P. now owns 3,181 shares of the biopharmaceutical company’s stock valued at $401,000 after purchasing an additional 1,001 shares in the last quarter. Blue Jay Capital Management LLC boosted its stake in shares of Incyte Corporation by 3.4% during the second quarter. Blue Jay Capital Management LLC now owns 72,051 shares of the biopharmaceutical company’s stock valued at $9,072,000 after purchasing an additional 2,373 shares in the last quarter. Virtu KCG Holdings LLC boosted its stake in shares of Incyte Corporation by 4.3% during the second quarter. Virtu KCG Holdings LLC now owns 36,117 shares of the biopharmaceutical company’s stock valued at $4,547,000 after purchasing an additional 1,503 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in shares of Incyte Corporation by 47.8% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 102,360 shares of the biopharmaceutical company’s stock valued at $12,888,000 after purchasing an additional 33,119 shares in the last quarter. Hedge funds and other institutional investors own 88.91% of the company’s stock.

In other Incyte Corporation news, EVP Steven H. Stein sold 2,111 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $125.00, for a total transaction of $263,875.00. Following the completion of the transaction, the executive vice president now directly owns 18,687 shares in the company, valued at approximately $2,335,875. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Steven H. Stein sold 6,485 shares of the firm’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $131.09, for a total transaction of $850,118.65. Following the transaction, the executive vice president now owns 19,356 shares of the company’s stock, valued at $2,537,378.04. The disclosure for this sale can be found here. Insiders sold a total of 109,452 shares of company stock valued at $13,707,134 in the last quarter. Insiders own 17.70% of the company’s stock.

Shares of Incyte Corporation (NASDAQ INCY) opened at 112.73 on Friday. Incyte Corporation has a 12 month low of $83.01 and a 12 month high of $153.15. The firm’s market cap is $23.19 billion. The stock has a 50 day moving average of $120.34 and a 200 day moving average of $126.43.

Incyte Corporation (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.01). The company had revenue of $326.40 million during the quarter, compared to analysts’ expectations of $318.45 million. Incyte Corporation had a negative net margin of 11.77% and a negative return on equity of 21.57%. The business’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.18 EPS. On average, equities research analysts expect that Incyte Corporation will post ($0.82) EPS for the current fiscal year.

INCY has been the subject of several recent analyst reports. J P Morgan Chase & Co restated a “buy” rating and issued a $149.00 target price 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 target price on shares of Incyte Corporation in a research note on Monday, August 28th. Jefferies Group LLC restated a “buy” rating on shares of Incyte Corporation in a research note on Friday, October 6th. BidaskClub upgraded shares of Incyte Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 27th. Finally, Raymond James Financial, Inc. upgraded shares of Incyte Corporation from a “market perform” rating to an “outperform” rating and set a $159.00 target price for the company in a research note on Monday, September 11th. Seven investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $144.84.

TRADEMARK VIOLATION WARNING: This report was reported by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this report on another domain, it was illegally stolen and reposted in violation of United States & international copyright & trademark legislation. The correct version of this report can be viewed at https://sportsperspectives.com/2017/10/13/stifel-financial-corp-sells-11716-shares-of-incyte-corporation-incy.html.

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).

Institutional Ownership by Quarter for Incyte Corporation (NASDAQ:INCY)

Receive News & Ratings for Incyte Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply