Gateway Investment Advisers LLC trimmed its holdings in shares of Incyte Co. (NASDAQ:INCY) by 3.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,802 shares of the biopharmaceutical company’s stock after selling 272 shares during the period. Gateway Investment Advisers LLC’s holdings in Incyte were worth $578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also made changes to their positions in INCY. Norges Bank purchased a new stake in shares of Incyte in the 4th quarter valued at about $186,630,000. FMR LLC increased its position in Incyte by 2,120.0% in the 1st quarter. FMR LLC now owns 657,610 shares of the biopharmaceutical company’s stock valued at $56,561,000 after acquiring an additional 627,988 shares during the period. Eagle Asset Management Inc. acquired a new position in Incyte in the 1st quarter valued at about $37,747,000. Victory Capital Management Inc. increased its position in Incyte by 13,339.9% in the 1st quarter. Victory Capital Management Inc. now owns 349,707 shares of the biopharmaceutical company’s stock valued at $30,078,000 after acquiring an additional 347,105 shares during the period. Finally, Argent Capital Management LLC acquired a new position in Incyte in the 1st quarter valued at about $27,346,000. 90.47% of the stock is owned by institutional investors.
In related news, EVP Steven H. Stein sold 8,357 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $87.96, for a total value of $735,081.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Barry P. Flannelly sold 959 shares of the stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $79.91, for a total value of $76,633.69. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,316 shares of company stock valued at $1,211,715. Insiders own 17.10% of the company’s stock.
INCY has been the topic of several recent research reports. Cowen restated a “buy” rating on shares of Incyte in a research report on Monday, May 27th. Credit Suisse Group began coverage on Regeneron Pharmaceuticals in a research report on Monday, May 20th. They set a “neutral” rating and a $336.00 target price on the stock. Oppenheimer set a $85.00 target price on Incyte and gave the stock a “hold” rating in a research report on Sunday, April 7th. Barclays set a $24.00 target price on Orion Engineered Carbons and gave the stock a “hold” rating in a research report on Friday, May 3rd. Finally, Zacks Investment Research upgraded Triple-S Management from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Monday, April 29th. Twelve investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $88.00.
Shares of Incyte stock traded down $3.09 during trading hours on Tuesday, reaching $78.62. 77,523 shares of the company’s stock were exchanged, compared to its average volume of 956,972. Incyte Co. has a 52-week low of $57.00 and a 52-week high of $89.30. The company has a market capitalization of $17.45 billion, a price-to-earnings ratio of 95.87 and a beta of 1.17. The company’s fifty day moving average is $82.48. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.22 and a quick ratio of 5.21.
Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, April 30th. The biopharmaceutical company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.29. The business had revenue of $497.86 million during the quarter, compared to the consensus estimate of $488.00 million. Incyte had a return on equity of 13.28% and a net margin of 12.66%. The business’s revenue for the quarter was up 30.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.01) EPS. As a group, equities analysts forecast that Incyte Co. will post 1.78 EPS for the current year.
Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.
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