FIL Ltd purchased a new stake in Incyte Co. (NASDAQ:INCY) in the 1st quarter, according to its most recent filing with the SEC. The fund purchased 141,446 shares of the biopharmaceutical company’s stock, valued at approximately $12,166,000.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc boosted its holdings in Incyte by 0.7% in the third 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. Oppenheimer & Co. Inc. purchased a new stake in shares of Incyte during the 4th quarter worth approximately $220,000. Advisors Asset Management Inc. lifted its stake in Incyte by 30.6% in the 4th quarter. Advisors Asset Management Inc. now owns 5,535 shares of the biopharmaceutical company’s stock valued at $352,000 after buying an additional 1,298 shares in the last quarter. ETF Managers Group LLC lifted its stake in Incyte by 15.8% in the 4th quarter. ETF Managers Group LLC now owns 1,564 shares of the biopharmaceutical company’s stock valued at $99,000 after buying an additional 213 shares in the last quarter. Finally, Pinnacle Associates Ltd. raised its holdings in Incyte by 383.4% in the 4th quarter. Pinnacle Associates Ltd. now owns 19,700 shares of the biopharmaceutical company’s stock valued at $1,253,000 after acquiring an additional 15,625 shares during the last quarter. Institutional investors own 91.17% of the company’s stock.
INCY has been the subject of a number of research reports. BidaskClub raised shares of Incyte from a “sell” rating to a “hold” rating in a research report on Wednesday, May 22nd. Zacks Investment Research lowered shares of Incyte from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 29th. Credit Suisse Group assumed coverage on shares of Incyte in a research note on Monday, May 20th. They set a “neutral” rating and a $75.00 price objective on the stock. Stifel Nicolaus started coverage on shares of Incyte in a report on Wednesday, April 10th. They set a “hold” rating and a $82.00 target price for the company. Finally, Piper Jaffray Companies raised their price objective on shares of Incyte from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 15th. Twelve research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Incyte presently has an average rating of “Buy” and an average target price of $88.00.
Shares of NASDAQ INCY opened at $75.56 on Wednesday. The company has a market cap of $16.20 billion, a P/E ratio of 92.15 and a beta of 1.19. Incyte Co. has a 52-week low of $57.00 and a 52-week high of $88.83. The company has a quick ratio of 5.21, a current ratio of 5.22 and a debt-to-equity ratio of 0.01.
Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.62 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 business had revenue of $497.86 million during the quarter, compared to analysts’ expectations of $488.00 million. During the same quarter in the prior year, the company posted ($0.01) earnings per share. The firm’s revenue was up 30.2% on a year-over-year basis. As a group, equities research analysts predict that Incyte Co. will post 1.78 earnings per share for the current year.
In other news, EVP Paula J. Swain sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $87.01, for a total value of $870,100.00. Following the sale, the executive vice president now directly owns 38,295 shares in the company, valued at approximately $3,332,047.95. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 17.10% of the stock is currently owned by company insiders.
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Incyte Company Profile
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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