Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Incyte Co. (NASDAQ:INCY) by 7.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,386 shares of the biopharmaceutical company’s stock after buying an additional 750 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Incyte were worth $893,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc increased its position in Incyte by 0.7% during the 3rd quarter. Vanguard Group Inc now owns 18,380,804 shares of the biopharmaceutical company’s stock valued at $1,269,746,000 after purchasing an additional 120,700 shares during the period. BlackRock Inc. increased its position in Incyte by 1.1% during the 4th quarter. BlackRock Inc. now owns 15,262,962 shares of the biopharmaceutical company’s stock valued at $970,575,000 after purchasing an additional 167,751 shares during the period. Norges Bank purchased a new stake in shares of Incyte in the 4th quarter worth about $186,630,000. Geode Capital Management LLC grew its position in shares of Incyte by 7.6% in the 4th quarter. Geode Capital Management LLC now owns 2,360,606 shares of the biopharmaceutical company’s stock worth $149,854,000 after buying an additional 166,510 shares during the period. Finally, Northern Trust Corp grew its position in shares of Incyte by 3.3% in the 4th quarter. Northern Trust Corp now owns 1,973,435 shares of the biopharmaceutical company’s stock worth $125,490,000 after buying an additional 62,842 shares during the period. Institutional investors own 91.17% of the company’s stock.
Incyte stock traded up $1.34 during midday trading on Friday, hitting $77.71. The stock had a trading volume of 1,250,400 shares, compared to its average volume of 1,407,600. The firm has a market capitalization of $16.38 billion, a price-to-earnings ratio of 94.77 and a beta of 1.20. Incyte Co. has a 52-week low of $57.00 and a 52-week high of $88.83. The company has a current ratio of 5.22, a quick ratio of 5.21 and a debt-to-equity ratio of 0.01.
Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.29. Incyte had a net margin of 12.66% and a return on equity of 13.28%. The company had revenue of $497.86 million during the quarter, compared to analyst estimates of $488.00 million. During the same period in the prior year, the firm posted ($0.01) EPS. The firm’s quarterly revenue was up 30.2% compared to the same quarter last year. On average, analysts predict that Incyte Co. will post 1.78 EPS for the current year.
In other Incyte news, EVP Paula J. Swain sold 10,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $87.01, for a total transaction of $870,100.00. Following the completion of the sale, the executive vice president now directly owns 38,295 shares of the company’s stock, valued at approximately $3,332,047.95. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 17.10% of the company’s stock.
INCY has been the topic of a number of recent research reports. Royal Bank of Canada upped their target price on shares of Incyte to $89.00 and gave the stock an “outperform” rating in a research report on Friday, February 15th. Raymond James set a $100.00 target price on shares of Incyte and gave the stock a “buy” rating in a research report on Friday, February 15th. Argus upped their target price on shares of Incyte from $83.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, February 25th. BidaskClub cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 6th. Finally, Oppenheimer set a $85.00 price target on shares of Incyte and gave the stock a “hold” rating in a research note on Sunday, April 7th. Thirteen research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $88.00.
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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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