Two Sigma Investments LP lifted its holdings in Incyte Co. (NASDAQ:INCY) by 143.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 729,107 shares of the biopharmaceutical company’s stock after purchasing an additional 429,181 shares during the period. Two Sigma Investments LP’s holdings in Incyte were worth $69,054,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in INCY. Financial Gravity Companies Inc. purchased a new position in Incyte in the fourth quarter worth approximately $120,000. Advantage Investment Management LLC grew its stake in shares of Incyte by 1,233.3% during the 4th quarter. Advantage Investment Management LLC now owns 2,000 shares of the biopharmaceutical company’s stock worth $189,000 after purchasing an additional 1,850 shares during the period. Private Advisor Group LLC acquired a new position in shares of Incyte during the 3rd quarter worth $203,000. Mission Wealth Management LP acquired a new position in shares of Incyte during the 4th quarter worth $213,000. Finally, Caxton Associates LP acquired a new position in shares of Incyte during the 3rd quarter worth $257,000. Hedge funds and other institutional investors own 93.58% of the company’s stock.
Several equities research analysts recently commented on INCY shares. Royal Bank of Canada decreased their price objective on shares of Incyte from $136.00 to $120.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 21st. ValuEngine lowered shares of Incyte from a “hold” rating to a “sell” rating in a research report on Wednesday, November 29th. Cowen reiterated a “buy” rating on shares of Incyte in a research report on Tuesday, December 5th. TheStreet lowered shares of Incyte from a “c-” rating to a “d+” rating in a research report on Tuesday, December 5th. Finally, Raymond James Financial reiterated a “buy” rating on shares of Incyte in a research report on Tuesday, December 12th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $142.83.
Incyte Co. (INCY) traded up $0.23 during trading hours on Tuesday, reaching $94.68. 128,107 shares of the company’s stock were exchanged, compared to its average volume of 1,717,484. The stock has a market cap of $19,930.00, a price-to-earnings ratio of -60.54 and a beta of 0.64. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.99 and a current ratio of 4.01. Incyte Co. has a 52 week low of $80.85 and a 52 week high of $153.15.
Incyte (NASDAQ:INCY) last released its earnings results on Thursday, February 15th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.52) by $0.54. The company had revenue of $444.20 million for the quarter, compared to analyst estimates of $435.23 million. Incyte had a negative net margin of 20.38% and a negative return on equity of 11.85%. The firm’s quarterly revenue was up 36.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 EPS. equities analysts predict that Incyte Co. will post -0.28 earnings per share for the current year.
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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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