Synovus Financial Corp Purchases 593 Shares of Incyte Corporation (INCY)

Synovus Financial Corp increased its position in Incyte Corporation (NASDAQ:INCY) by 6.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,926 shares of the biopharmaceutical company’s stock after buying an additional 593 shares during the quarter. Synovus Financial Corp’s holdings in Incyte were worth $1,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its position in Incyte by 13.8% in the 2nd 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. Seven Eight Capital LP bought a new stake in Incyte in the 2nd quarter worth approximately $129,000. IFP Advisors Inc lifted its position in Incyte by 9.9% in the 2nd 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. Sun Life Financial INC lifted its position in Incyte by 9,069.2% in the 2nd quarter. Sun Life Financial INC now owns 1,192 shares of the biopharmaceutical company’s stock worth $150,000 after buying an additional 1,179 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in Incyte by 130.4% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,325 shares of the biopharmaceutical company’s stock worth $177,000 after buying an additional 750 shares during the last quarter. Institutional investors own 90.86% of the company’s stock.

Incyte Corporation (NASDAQ INCY) opened at $93.79 on Thursday. The company has a quick ratio of 4.81, a current ratio of 4.82 and a debt-to-equity ratio of 0.01. Incyte Corporation has a 12 month low of $92.91 and a 12 month high of $153.15.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.11. Incyte 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 for the quarter, compared to analysts’ expectations of $360.34 million. During the same period in the previous year, the firm earned $0.19 earnings per share. The business’s revenue was up 41.6% compared to the same quarter last year. equities analysts anticipate that Incyte Corporation will post -1.33 EPS for the current year.

In other news, EVP Barry P. Flannelly sold 714 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $124.25, for a total transaction of $88,714.50. Following the transaction, the executive vice president now directly owns 15,496 shares of the company’s stock, valued at $1,925,378. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bros. Advisors Lp Baker bought 100,000 shares of Incyte stock in a transaction dated Friday, September 8th. The shares were acquired at an average cost of $132.00 per share, for a total transaction of $13,200,000.00. The disclosure for this purchase can be found here. Insiders have sold 104,334 shares of company stock worth $11,992,011 over the last three months. Insiders own 17.70% of the company’s stock.

A number of analysts recently weighed in on INCY shares. Argus restated a “buy” rating and issued a $150.00 target price on shares of Incyte in a research report on Wednesday, September 13th. J P Morgan Chase & Co restated a “buy” rating on shares of Incyte in a research report on Wednesday, October 25th. Goldman Sachs Group started coverage on Incyte in a research report on Friday, October 6th. They issued a “buy” rating and a $160.00 target price for the company. Jefferies Group restated a “buy” rating on shares of Incyte in a research report on Friday, October 6th. Finally, Cowen restated a “buy” rating on shares of Incyte in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $145.65.

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Incyte 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 (NASDAQ:INCY)

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