DnB Asset Management AS Increases Position in Incyte Co. (INCY)

DnB Asset Management AS boosted its position in shares of Incyte Co. (NASDAQ:INCY) by 13.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,600 shares of the biopharmaceutical company’s stock after buying an additional 3,700 shares during the quarter. DnB Asset Management AS’s holdings in Incyte were worth $2,993,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in INCY. Tower Research Capital LLC TRC boosted its stake in Incyte by 13.8% during the second quarter. Tower Research Capital LLC TRC now owns 891 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 108 shares in the last quarter. Seven Eight Capital LP acquired a new position in shares of Incyte in the 2nd quarter valued at $129,000. Sun Life Financial INC boosted its position in shares of Incyte by 9,069.2% in the 2nd 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 period. Private Advisor Group LLC acquired a new position in shares of Incyte in the 3rd quarter valued at $203,000. Finally, Symphony Asset Management LLC boosted its position in shares of Incyte by 20.1% in the 2nd quarter. Symphony Asset Management LLC now owns 1,867 shares of the biopharmaceutical company’s stock valued at $235,000 after purchasing an additional 312 shares during the period. 90.74% of the stock is owned by institutional investors and hedge funds.

In related news, EVP Reid M. Huber sold 696 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $98.01, for a total value of $68,214.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David W. Gryska sold 3,915 shares of the stock in a transaction dated Thursday, November 2nd. The stock was 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. Over the last three months, insiders sold 44,878 shares of company stock valued at $4,636,494. Company insiders own 17.70% of the company’s stock.

Shares of Incyte Co. (NASDAQ INCY) opened at $94.07 on Friday. The stock has a market capitalization of $19,850.00, a PE ratio of -117.59 and a beta of 0.74. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.82 and a quick ratio of 4.81. Incyte Co. has a one year low of $92.52 and a one year high of $153.15.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.11. The firm had revenue of $381.50 million during the quarter, compared to the consensus estimate of $360.34 million. Incyte had a negative return on equity of 12.91% and a negative net margin of 10.90%. The business’s revenue for the quarter was up 41.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.19 EPS. analysts predict that Incyte Co. will post -1.31 earnings per share for the current year.

A number of research firms recently weighed in on INCY. BMO Capital Markets reiterated a “buy” rating and issued a $172.00 price target on shares of Incyte in a research report on Wednesday, January 3rd. Zacks Investment Research lowered Incyte from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Citigroup reiterated a “market perform” rating and issued a $120.00 price target (down previously from $135.00) on shares of Incyte in a research report on Tuesday, January 2nd. Royal Bank of Canada upgraded Incyte from a “sector perform” rating to an “outperform” rating and set a $136.00 price target for the company in a research report on Tuesday, January 2nd. Finally, Oppenheimer set a $120.00 price target on Incyte and gave the company a “hold” rating in a research report on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Incyte currently has an average rating of “Buy” and an average target price of $143.11.

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Incyte Profile

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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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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