LPL Financial LLC Has $1.16 Million Stake in Incyte Co. (INCY)

LPL Financial LLC lifted its stake in shares of Incyte Co. (NASDAQ:INCY) by 80.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,272 shares of the biopharmaceutical company’s stock after buying an additional 5,455 shares during the quarter. LPL Financial LLC’s holdings in Incyte were worth $1,163,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the company. Sands Capital Management LLC grew its position in shares of Incyte by 8.2% during the fourth quarter. Sands Capital Management LLC now owns 8,191,287 shares of the biopharmaceutical company’s stock worth $775,797,000 after buying an additional 621,323 shares in the last quarter. Capital International Investors grew its position in shares of Incyte by 1.4% during the third quarter. Capital International Investors now owns 6,494,566 shares of the biopharmaceutical company’s stock worth $758,176,000 after buying an additional 87,369 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Incyte by 5.8% during the fourth quarter. Geode Capital Management LLC now owns 1,938,238 shares of the biopharmaceutical company’s stock worth $183,205,000 after buying an additional 105,692 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Incyte by 0.4% during the fourth quarter. Bank of New York Mellon Corp now owns 1,682,019 shares of the biopharmaceutical company’s stock worth $159,304,000 after buying an additional 7,463 shares in the last quarter. Finally, HealthCor Management L.P. grew its position in shares of Incyte by 125.5% during the fourth quarter. HealthCor Management L.P. now owns 1,350,000 shares of the biopharmaceutical company’s stock worth $127,859,000 after buying an additional 751,450 shares in the last quarter. 93.50% of the stock is owned by institutional investors and hedge funds.

How to Become a New Pot Stock Millionaire

INCY stock opened at $64.02 on Monday. The company has a market cap of $13,559.37, a P/E ratio of 100.03 and a beta of 0.66. Incyte Co. has a fifty-two week low of $63.43 and a fifty-two week high of $142.45. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.01 and a quick ratio of 3.99.

Incyte (NASDAQ:INCY) last posted its earnings results on Thursday, February 15th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.52) by $0.54. Incyte had a negative return on equity of 11.85% and a negative net margin of 20.38%. The firm had revenue of $444.20 million during the quarter, compared to analysts’ expectations of $435.23 million. During the same quarter in the previous year, the business earned $0.05 earnings per share. The firm’s revenue was up 36.0% compared to the same quarter last year. sell-side analysts anticipate that Incyte Co. will post -0.28 earnings per share for the current fiscal year.

In other Incyte news, insider David W. Gryska sold 1,952 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $85.56, for a total value of $167,013.12. Following the completion of the sale, the insider now owns 12,922 shares in the company, valued at $1,105,606.32. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Reid M. Huber sold 1,958 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $85.55, for a total value of $167,506.90. The disclosure for this sale can be found here. 17.20% of the stock is currently owned by insiders.

A number of equities analysts have recently commented on INCY shares. Credit Suisse Group set a $145.00 price objective on Incyte and gave the stock a “buy” rating in a research report on Wednesday, February 14th. BidaskClub downgraded Incyte from a “sell” rating to a “strong sell” rating in a research report on Tuesday, January 16th. Royal Bank of Canada raised Incyte from a “sector perform” rating to an “outperform” rating and set a $136.00 price objective for the company in a research report on Tuesday, January 2nd. Raymond James Financial set a $159.00 price objective on Incyte and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Finally, Oppenheimer set a $120.00 price objective on Incyte and gave the stock a “hold” rating in a research report on Tuesday, January 2nd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $131.03.

COPYRIGHT VIOLATION NOTICE: This piece of content was posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece of content on another website, it was copied illegally and reposted in violation of U.S. and international trademark & copyright law. The correct version of this piece of content can be accessed at https://www.dispatchtribunal.com/2018/04/09/lpl-financial-llc-has-1-16-million-stake-in-incyte-co-incy.html.

Incyte Company Profile

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States. It offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and ICLUSIG, a kinase inhibitor for the treatment of chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

Receive News & Ratings for Incyte Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply