Elkfork Partners LLC increased its holdings in shares of Incyte Co. (NASDAQ:INCY) by 7.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,998 shares of the biopharmaceutical company’s stock after purchasing an additional 616 shares during the period. Elkfork Partners LLC’s holdings in Incyte were worth $764,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Incyte by 1.2% in the 1st quarter. BlackRock Inc. now owns 15,453,453 shares of the biopharmaceutical company’s stock valued at $1,329,154,000 after purchasing an additional 190,491 shares in the last quarter. Geode Capital Management LLC raised its stake 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 valued at $149,854,000 after purchasing an additional 166,510 shares in the last quarter. Northern Trust Corp grew its position in shares of Incyte by 6.7% during the 2nd quarter. Northern Trust Corp now owns 2,150,745 shares of the biopharmaceutical company’s stock valued at $182,728,000 after buying an additional 135,914 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Incyte by 133.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,962,310 shares of the biopharmaceutical company’s stock valued at $166,718,000 after buying an additional 1,121,310 shares during the last quarter. Finally, First Trust Advisors LP grew its position in shares of Incyte by 17.4% during the 2nd quarter. First Trust Advisors LP now owns 1,861,408 shares of the biopharmaceutical company’s stock valued at $158,145,000 after buying an additional 276,290 shares during the last quarter. 91.76% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:INCY opened at $72.82 on Friday. 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 $15.66 billion, a price-to-earnings ratio of 88.80 and a beta of 1.09. The company has a 50-day moving average of $80.40 and a 200-day moving average of $81.23. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.59 and a current ratio of 5.61.
Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.37. Incyte had a net margin of 15.25% and a return on equity of 17.10%. The firm had revenue of $529.93 million during the quarter, compared to the consensus estimate of $498.57 million. During the same period last year, the firm posted $0.63 EPS. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. Sell-side analysts forecast that Incyte Co. will post 1.98 EPS for the current year.
In other Incyte news, EVP Barry P. Flannelly sold 959 shares of the company’s 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Paula J. Swain sold 2,500 shares of the company’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $80.00, for a total transaction of $200,000.00. Following the completion of the transaction, the executive vice president now owns 44,751 shares in the company, valued at $3,580,080. The disclosure for this sale can be found here. Over the last quarter, insiders sold 110,183 shares of company stock worth $9,094,694. Corporate insiders own 17.10% of the company’s stock.
A number of equities research analysts recently weighed in on the stock. BidaskClub downgraded shares of Incyte from a “hold” rating to a “sell” rating in a research report on Friday. Oppenheimer upgraded shares of Incyte from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $85.00 to $100.00 in a research report on Thursday, September 5th. They noted that the move was a valuation call. Leerink Swann set a $90.00 price objective on shares of Incyte and gave the company a “hold” rating in a report on Wednesday, July 31st. ValuEngine lowered shares of Incyte from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. Finally, Piper Jaffray Companies reissued a “buy” rating on shares of Incyte in a research note on Monday, June 17th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $91.30.
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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