Lau Associates LLC decreased its position in Incyte Co. (NASDAQ:INCY) by 18.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,532 shares of the biopharmaceutical company’s stock after selling 2,900 shares during the quarter. Lau Associates LLC’s holdings in Incyte were worth $1,187,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in INCY. Inverness Counsel LLC NY purchased a new stake in shares of Incyte during the third quarter worth $330,000. LMR Partners LLP purchased a new stake in shares of Incyte during the third quarter worth $394,000. Swiss National Bank increased its position in shares of Incyte by 3.0% during the third quarter. Swiss National Bank now owns 641,700 shares of the biopharmaceutical company’s stock worth $74,912,000 after acquiring an additional 18,700 shares during the period. Matrix Capital Management Company LP increased its position in shares of Incyte by 28.3% during the second quarter. Matrix Capital Management Company LP now owns 1,796,716 shares of the biopharmaceutical company’s stock worth $226,225,000 after acquiring an additional 396,716 shares during the period. Finally, Prudential Financial Inc. increased its position in shares of Incyte by 0.6% during the third quarter. Prudential Financial Inc. now owns 236,699 shares of the biopharmaceutical company’s stock worth $27,633,000 after acquiring an additional 1,490 shares during the period. 90.02% of the stock is currently owned by institutional investors.
In other news, Director Paul A. Friedman sold 28,507 shares of the stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $105.24, for a total transaction of $3,000,076.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David W. Gryska sold 6,760 shares of the stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $98.87, for a total transaction of $668,361.20. Following the sale, the insider now owns 20,752 shares of the company’s stock, valued at approximately $2,051,750.24. The disclosure for this sale can be found here. Insiders sold 40,963 shares of company stock valued at $4,222,953 in the last 90 days. 17.70% of the stock is currently owned by insiders.
A number of analysts have recently weighed in on INCY shares. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Incyte in a research report on Wednesday, October 25th. BidaskClub lowered Incyte from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 16th. Cowen reissued a “buy” rating on shares of Incyte in a report on Tuesday, December 5th. Royal Bank of Canada raised Incyte from a “sector perform” rating to an “outperform” rating and set a $136.00 target price on the stock in a report on Tuesday, January 2nd. Finally, Deutsche Bank began coverage on Incyte in a report on Tuesday, December 12th. They issued a “hold” rating and a $106.00 target price on the stock. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $143.25.
Incyte Co. (NASDAQ INCY) traded up $0.14 during midday trading on Wednesday, reaching $88.17. 2,233,743 shares of the company’s stock traded hands, compared to its average volume of 1,840,000. The company has a quick ratio of 4.81, a current ratio of 4.82 and a debt-to-equity ratio of 0.01. Incyte Co. has a one year low of $80.85 and a one year high of $153.15. The firm has a market capitalization of $18,610.00, a P/E ratio of -110.21 and a beta of 0.59.
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Incyte Company 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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