First Mercantile Trust Co. lowered its stake in shares of Incyte Co. (NASDAQ:INCY) by 59.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,227 shares of the biopharmaceutical company’s stock after selling 1,768 shares during the quarter. First Mercantile Trust Co.’s holdings in Incyte were worth $102,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of INCY. Atria Investments LLC acquired a new stake in Incyte during the fourth quarter worth approximately $376,000. Bank of Montreal Can grew its position in Incyte by 70.3% during the fourth quarter. Bank of Montreal Can now owns 159,059 shares of the biopharmaceutical company’s stock worth $15,064,000 after buying an additional 65,681 shares in the last quarter. National Pension Service grew its position in Incyte by 13.0% during the fourth quarter. National Pension Service now owns 178,758 shares of the biopharmaceutical company’s stock worth $16,930,000 after buying an additional 20,633 shares in the last quarter. Creative Planning grew its position in Incyte by 30.7% during the fourth quarter. Creative Planning now owns 17,678 shares of the biopharmaceutical company’s stock worth $1,674,000 after buying an additional 4,152 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in Incyte by 6.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 580,267 shares of the biopharmaceutical company’s stock worth $54,958,000 after buying an additional 35,815 shares in the last quarter. 92.21% of the stock is currently owned by institutional investors and hedge funds.
Incyte opened at $66.79 on Tuesday, according to MarketBeat. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.84 and a current ratio of 3.86. Incyte Co. has a twelve month low of $60.22 and a twelve month high of $140.11. The firm has a market cap of $14.38 billion, a P/E ratio of 104.36 and a beta of 0.72.
Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, May 1st. The biopharmaceutical company reported ($0.01) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.08. Incyte had a negative return on equity of 0.74% and a negative net margin of 10.90%. The company had revenue of $382.28 million for the quarter, compared to the consensus estimate of $384.03 million. During the same quarter last year, the business posted $0.14 EPS. Incyte’s revenue for the quarter was down .5% on a year-over-year basis. analysts forecast that Incyte Co. will post -0.19 earnings per share for the current fiscal year.
In related news, insider David W. Gryska sold 1,952 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $85.56, for a total transaction of $167,013.12. Following the sale, the insider now owns 12,922 shares of the company’s stock, valued at approximately $1,105,606.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Paula J. Swain sold 80,000 shares of the firm’s stock in a transaction on Monday, April 30th. The shares were sold at an average price of $62.43, for a total value of $4,994,400.00. Following the sale, the executive vice president now directly owns 39,467 shares in the company, valued at approximately $2,463,924.81. The disclosure for this sale can be found here. In the last three months, insiders have sold 83,910 shares of company stock worth $5,328,920. 17.20% of the stock is currently owned by company insiders.
INCY has been the topic of a number of analyst reports. Oppenheimer reissued a “hold” rating and set a $110.00 price target (down previously from $120.00) on shares of Incyte in a research report on Monday, January 22nd. BidaskClub raised Incyte from a “strong sell” rating to a “sell” rating in a research report on Friday, January 26th. Nomura reissued a “buy” rating on shares of Incyte in a research report on Thursday, February 1st. Credit Suisse Group set a $145.00 price target on Incyte and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Finally, Raymond James reissued a “buy” rating on shares of Incyte in a research report on Thursday, February 15th. Two 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 company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $115.71.
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.
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