Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in Incyte Co. (NASDAQ:INCY) by 4.0% during the 1st quarter, HoldingsChannel.com reports. The firm owned 49,182 shares of the biopharmaceutical company’s stock after buying an additional 1,882 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Incyte were worth $4,098,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in INCY. Exane Derivatives bought a new position in Incyte in the fourth quarter valued at $669,000. NuWave Investment Management LLC bought a new position in Incyte in the fourth quarter valued at $473,000. Ascend Capital LLC bought a new position in Incyte in the fourth quarter valued at $9,879,000. Financial Gravity Companies Inc. bought a new position in Incyte in the fourth quarter valued at $120,000. Finally, Emory University increased its stake in Incyte by 30.8% in the fourth quarter. Emory University now owns 17,046 shares of the biopharmaceutical company’s stock valued at $1,614,000 after acquiring an additional 4,016 shares during the last quarter. 93.55% of the stock is currently owned by hedge funds and other institutional investors.
Incyte opened at $67.22 on Tuesday, MarketBeat Ratings reports. The company has a quick ratio of 3.84, a current ratio of 3.86 and a debt-to-equity ratio of 0.01. Incyte Co. has a 1-year low of $65.85 and a 1-year high of $67.84.
Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, May 1st. The biopharmaceutical company reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.08. The company had revenue of $382.28 million during the quarter, compared to analyst estimates of $384.03 million. Incyte had a negative net margin of 10.90% and a negative return on equity of 0.74%. Incyte’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $0.14 earnings per share. equities research analysts forecast that Incyte Co. will post -0.19 EPS for the current year.
A number of research analysts recently commented on the company. Cowen reissued a “buy” rating on shares of Incyte in a research note on Wednesday, May 2nd. Oppenheimer set a $65.00 price objective on Incyte and gave the company a “hold” rating in a research note on Tuesday, May 1st. Raymond James reaffirmed a “buy” rating on shares of Incyte in a research note on Tuesday, May 1st. JPMorgan Chase reduced their price objective on Incyte from $96.00 to $88.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 24th. Finally, Zacks Investment Research cut Incyte from a “buy” rating to a “hold” rating in a research note on Thursday, April 19th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $115.71.
In other news, President Herve Hoppenot bought 15,000 shares of the company’s stock in a transaction dated Wednesday, May 2nd. The stock was bought at an average cost of $60.94 per share, for a total transaction of $914,100.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paula J. Swain sold 80,000 shares of the stock in a transaction dated Monday, April 30th. The stock was sold at an average price of $62.43, for a total transaction of $4,994,400.00. Following the sale, the executive vice president now owns 39,467 shares of the company’s stock, valued at $2,463,924.81. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 83,910 shares of company stock valued at $5,328,920. 17.20% of the stock is currently owned by company insiders.
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.
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