Incyte Corporation (INCY) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 8.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 492,923 shares of the biopharmaceutical company’s stock after selling 47,381 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.23% of Incyte Corporation worth $57,544,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Wetherby Asset Management Inc. increased its position in shares of Incyte Corporation by 1.4% during the second quarter. Wetherby Asset Management Inc. now owns 1,672 shares of the biopharmaceutical company’s stock valued at $211,000 after acquiring an additional 23 shares during the last quarter. Nordea Investment Management AB increased its position in Incyte Corporation by 0.8% in the second quarter. Nordea Investment Management AB now owns 8,179 shares of the biopharmaceutical company’s stock worth $1,030,000 after buying an additional 67 shares during the last quarter. Grandfield & Dodd LLC increased its position in Incyte Corporation by 1.2% in the second quarter. Grandfield & Dodd LLC now owns 7,383 shares of the biopharmaceutical company’s stock worth $930,000 after buying an additional 85 shares during the last quarter. IFP Advisors Inc increased its position in Incyte Corporation by 9.9% in the second quarter. IFP Advisors Inc now owns 1,146 shares of the biopharmaceutical company’s stock worth $144,000 after buying an additional 103 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in Incyte Corporation by 13.8% in the second quarter. Tower Research Capital LLC TRC now owns 891 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 108 shares during the last quarter. 89.53% of the stock is owned by institutional investors.

In other Incyte Corporation news, EVP Steven H. Stein sold 2,111 shares of Incyte Corporation stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $125.00, for a total transaction of $263,875.00. Following the completion of the sale, the executive vice president now owns 18,687 shares of the company’s stock, valued at $2,335,875. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Barry P. Flannelly sold 714 shares of Incyte Corporation stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $124.25, for a total value of $88,714.50. Following the sale, the executive vice president now directly owns 15,496 shares of the company’s stock, valued at approximately $1,925,378. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 102,062 shares of company stock valued at $12,652,893. Corporate insiders own 17.70% of the company’s stock.

Shares of Incyte Corporation (INCY) opened at $105.47 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.82 and a quick ratio of 4.81. Incyte Corporation has a 52 week low of $98.49 and a 52 week high of $153.15.

Incyte Corporation (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.11. Incyte Corporation had a negative return on equity of 12.91% and a negative net margin of 10.90%. The firm had revenue of $381.50 million during the quarter, compared to analyst estimates of $360.34 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The company’s revenue was up 41.6% compared to the same quarter last year. equities research analysts anticipate that Incyte Corporation will post -1.33 earnings per share for the current fiscal year.

A number of research firms have issued reports on INCY. J P Morgan Chase & Co reissued a “buy” rating and issued a $149.00 target price on shares of Incyte Corporation in a research report on Thursday, August 31st. Oppenheimer Holdings, Inc. reissued a “hold” rating and issued a $135.00 target price on shares of Incyte Corporation in a research report on Thursday, August 31st. Jefferies Group LLC reissued a “buy” rating and issued a $148.00 target price on shares of Incyte Corporation in a research report on Thursday, July 27th. BMO Capital Markets reissued an “outperform” rating and issued a $163.00 target price (down from $172.00) on shares of Incyte Corporation in a research report on Monday, September 11th. Finally, Raymond James Financial, Inc. raised Incyte Corporation from a “market perform” rating to an “outperform” rating and set a $159.00 target price for the company in a research report on Monday, September 11th. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Incyte Corporation has an average rating of “Buy” and a consensus price target of $144.98.

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

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