State of Wisconsin Investment Board reduced its holdings in shares of Incyte Co. (NASDAQ:INCY) by 34.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 157,064 shares of the biopharmaceutical company’s stock after selling 84,049 shares during the period. State of Wisconsin Investment Board owned about 0.07% of Incyte worth $10,523,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Rockefeller Capital Management L.P. bought a new stake in shares of Incyte during the 1st quarter worth approximately $106,000. Assetmark Inc. raised its position in Incyte by 221.5% during the 1st quarter. Assetmark Inc. now owns 1,405 shares of the biopharmaceutical company’s stock valued at $117,000 after purchasing an additional 968 shares in the last quarter. Blackhawk Capital Partners LLC. raised its position in Incyte by 162.5% during the 1st quarter. Blackhawk Capital Partners LLC. now owns 1,575 shares of the biopharmaceutical company’s stock valued at $131,000 after purchasing an additional 975 shares in the last quarter. Optimum Investment Advisors bought a new stake in Incyte during the 1st quarter valued at $142,000. Finally, First Mercantile Trust Co. raised its position in Incyte by 75.8% during the 2nd quarter. First Mercantile Trust Co. now owns 2,157 shares of the biopharmaceutical company’s stock valued at $145,000 after purchasing an additional 930 shares in the last quarter. 93.09% of the stock is owned by hedge funds and other institutional investors.
INCY has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $88.00 target price on shares of Incyte in a research report on Wednesday, August 1st. Royal Bank of Canada raised Incyte from a “sector perform” rating to an “outperform” rating and set a $74.00 target price for the company in a research report on Wednesday, August 15th. They noted that the move was a valuation call. JMP Securities lowered Incyte from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 1st. Evercore ISI raised Incyte from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $60.23 to $140.11 in a research report on Monday, June 11th. Finally, Oppenheimer set a $65.00 target price on Incyte and gave the company a “hold” rating in a research report on Friday, June 1st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have assigned a buy rating to the stock. Incyte currently has an average rating of “Buy” and an average price target of $104.23.
INCY opened at $68.80 on Monday. The firm has a market capitalization of $13.70 billion, a PE ratio of 107.50 and a beta of 0.71. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.34 and a quick ratio of 4.32. Incyte Co. has a 12 month low of $60.22 and a 12 month high of $140.11.
Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, July 31st. The biopharmaceutical company reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.22. The firm had revenue of $521.50 million during 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 business’s revenue for the quarter 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. research analysts expect that Incyte Co. will post 0.43 earnings per share for the current year.
In other news, EVP Vijay K. Iyengar sold 606 shares of the business’s stock in a transaction on 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 Securities & Exchange Commission, which is available through this hyperlink. Insiders own 17.20% of the company’s stock.
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.
Featured Article: Marijuana Stocks Future Looks Bright
Want to see what other hedge funds are holding INCY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Incyte Co. (NASDAQ:INCY).
Receive News & Ratings for Incyte Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte and related companies with MarketBeat.com's FREE daily email newsletter.