Alyeska Investment Group L.P. decreased its position in Incyte Corporation (NASDAQ:INCY) by 35.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 300,466 shares of the biopharmaceutical company’s stock after selling 163,508 shares during the quarter. Alyeska Investment Group L.P. owned 0.14% of Incyte worth $35,076,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its position in Incyte by 13.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 891 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 108 shares during the last quarter. Seven Eight Capital LP bought a new stake in Incyte in the second quarter valued at approximately $129,000. IFP Advisors Inc lifted its position in Incyte by 9.9% in the second quarter. IFP Advisors Inc now owns 1,146 shares of the biopharmaceutical company’s stock valued at $144,000 after purchasing an additional 103 shares during the last quarter. Sun Life Financial INC lifted its position in Incyte by 9,069.2% in the second quarter. Sun Life Financial INC now owns 1,192 shares of the biopharmaceutical company’s stock valued at $150,000 after purchasing an additional 1,179 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in Incyte by 130.4% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,325 shares of the biopharmaceutical company’s stock valued at $177,000 after purchasing an additional 750 shares during the last quarter. Institutional investors own 90.86% of the company’s stock.
Several brokerages have weighed in on INCY. BMO Capital Markets reiterated an “outperform” rating and issued a $163.00 price objective (down previously from $172.00) on shares of Incyte in a research report on Monday, September 11th. Oppenheimer reiterated a “hold” rating and issued a $135.00 price objective on shares of Incyte in a research report on Sunday, September 10th. Goldman Sachs Group began coverage on Incyte in a research report on Friday, October 6th. They issued a “buy” rating and a $160.00 price objective for the company. ValuEngine downgraded Incyte from a “hold” rating to a “sell” rating in a research report on Wednesday, November 29th. Finally, Evercore ISI began coverage on Incyte in a research report on Wednesday, August 16th. They issued an “in-line” rating and a $135.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $145.65.
In other news, EVP Barry P. Flannelly sold 714 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $124.25, for a total transaction of $88,714.50. Following the transaction, the executive vice president now directly owns 15,496 shares of the company’s stock, valued at $1,925,378. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider David W. Gryska sold 3,915 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $105.63, for a total value of $413,541.45. The disclosure for this sale can be found here. Insiders have sold 104,334 shares of company stock worth $11,992,011 over the last three months. Insiders own 17.70% of the company’s stock.
Incyte Corporation (NASDAQ INCY) opened at $96.58 on Friday. The company has a current ratio of 4.82, a quick ratio of 4.81 and a debt-to-equity ratio of 0.01. Incyte Corporation has a 12 month low of $92.91 and a 12 month high of $153.15.
Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.11. Incyte had a negative return on equity of 12.91% and a negative net margin of 10.90%. The firm had revenue of $381.50 million for the quarter, compared to analysts’ expectations of $360.34 million. During the same period in the previous year, the firm earned $0.19 earnings per share. The business’s revenue was up 41.6% compared to the same quarter last year. analysts predict that Incyte Corporation will post -1.33 earnings per share for the current year.
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Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).
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