SG Americas Securities LLC grew its position in Incyte Co. (NASDAQ:INCY) by 138.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,507 shares of the biopharmaceutical company’s stock after buying an additional 56,699 shares during the quarter. SG Americas Securities LLC’s holdings in Incyte were worth $6,533,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in INCY. Rockefeller Capital Management L.P. acquired a new stake in shares of Incyte during the first quarter valued at $106,000. Assetmark Inc. boosted its stake in shares of Incyte by 221.5% during the first quarter. Assetmark Inc. now owns 1,405 shares of the biopharmaceutical company’s stock valued at $117,000 after acquiring an additional 968 shares during the last quarter. Blackhawk Capital Partners LLC. boosted its stake in shares of Incyte by 162.5% during the first quarter. Blackhawk Capital Partners LLC. now owns 1,575 shares of the biopharmaceutical company’s stock valued at $131,000 after acquiring an additional 975 shares during the last quarter. Optimum Investment Advisors acquired a new stake in shares of Incyte during the first quarter valued at $142,000. Finally, First Mercantile Trust Co. boosted its stake in shares of Incyte by 75.8% during the second quarter. First Mercantile Trust Co. now owns 2,157 shares of the biopharmaceutical company’s stock valued at $145,000 after acquiring an additional 930 shares during the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.
A number of analysts recently commented on the company. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $88.00 price objective on shares of Incyte in a research note on Sunday, June 24th. BidaskClub raised Incyte from a “sell” rating to a “hold” rating in a research note on Saturday, June 23rd. Royal Bank of Canada lowered Incyte from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $76.00 to $74.00 in a research note on Tuesday, June 26th. They noted that the move was a valuation call. Oppenheimer set a $70.00 price target on Incyte and gave the stock a “hold” rating in a research note on Tuesday, July 17th. Finally, Morgan Stanley lowered Incyte from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 13th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $104.23.
In other news, EVP Vijay K. Iyengar sold 606 shares of Incyte stock in a transaction dated Monday, July 9th. The stock was sold at an average price of $71.34, for a total value of $43,232.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 17.20% of the company’s stock.
NASDAQ INCY opened at $68.80 on Friday. The stock has a market capitalization of $13.70 billion, a PE ratio of 107.50 and a beta of 0.71. Incyte Co. has a 1-year low of $60.22 and a 1-year high of $140.11. The company has a current ratio of 4.34, a quick ratio of 4.32 and a debt-to-equity ratio of 0.01.
Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, July 31st. The biopharmaceutical company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.22. The business had revenue of $521.50 million for the quarter, compared to analyst estimates of $510.70 million. Incyte had a positive return on equity of 1.74% and a negative net margin of 5.92%. The company’s revenue was up 59.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.06) EPS. sell-side analysts expect that Incyte Co. will post 0.43 EPS for the current fiscal year.
Incyte Company Profile
Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States. It offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and ICLUSIG, a kinase inhibitor for the treatment of chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.
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