Ashford Capital Management Inc. raised its stake in shares of Incyte Co. (NASDAQ:INCY) by 8.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 155,830 shares of the biopharmaceutical company’s stock after purchasing an additional 12,543 shares during the quarter. Incyte accounts for 1.4% of Ashford Capital Management Inc.’s portfolio, making the stock its 28th largest holding. Ashford Capital Management Inc. owned approximately 0.07% of Incyte worth $10,441,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INCY. Manning & Napier Group LLC boosted its holdings in Incyte by 128.5% during the second quarter. Manning & Napier Group LLC now owns 4,284,594 shares of the biopharmaceutical company’s stock valued at $287,067,000 after purchasing an additional 2,409,374 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in Incyte by 2,263.0% during the second quarter. Point72 Asset Management L.P. now owns 1,299,673 shares of the biopharmaceutical company’s stock valued at $87,078,000 after purchasing an additional 1,244,673 shares in the last quarter. Frontier Capital Management Co. LLC boosted its holdings in Incyte by 146.5% during the second quarter. Frontier Capital Management Co. LLC now owns 996,359 shares of the biopharmaceutical company’s stock valued at $66,756,000 after purchasing an additional 592,132 shares in the last quarter. Orbimed Advisors LLC acquired a new stake in Incyte during the second quarter valued at approximately $29,346,000. Finally, First Trust Advisors LP boosted its holdings in Incyte by 45.4% during the second quarter. First Trust Advisors LP now owns 854,987 shares of the biopharmaceutical company’s stock valued at $57,284,000 after purchasing an additional 267,057 shares in the last quarter. 91.52% of the stock is currently owned by institutional investors.
NASDAQ:INCY opened at $68.09 on Monday. Incyte Co. has a 1 year low of $60.22 and a 1 year high of $120.98. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.34 and a quick ratio of 4.32. The company has a market capitalization of $14.14 billion, a PE ratio of 106.39 and a beta of 1.14.
Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, July 31st. The biopharmaceutical company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.22. Incyte had a negative net margin of 5.92% and a positive return on equity of 1.74%. The company had revenue of $521.50 million during the quarter, compared to analysts’ expectations of $510.70 million. During the same quarter in the previous year, the company posted ($0.06) earnings per share. Incyte’s quarterly revenue was up 59.8% compared to the same quarter last year. sell-side analysts anticipate that Incyte Co. will post 0.43 EPS for the current year.
In related news, EVP Vijay K. Iyengar sold 606 shares of the business’s stock in a transaction that occurred on Monday, July 9th. The shares were sold at an average price of $71.34, for a total value of $43,232.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paula J. Swain sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $73.21, for a total transaction of $732,100.00. The disclosure for this sale can be found here. Insiders sold 20,606 shares of company stock valued at $1,475,332 in the last quarter. 17.20% of the stock is currently owned by corporate insiders.
A number of research firms have weighed in on INCY. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Incyte in a report on Saturday. Oppenheimer set a $70.00 price objective on Incyte and gave the company a “hold” rating in a report on Thursday. BidaskClub downgraded Incyte from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 11th. Cowen reaffirmed a “buy” rating on shares of Incyte in a report on Tuesday, September 4th. Finally, Argus set a $83.00 price objective on Incyte and gave the company a “buy” rating in a report on Thursday, August 30th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $100.51.
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.
Recommended Story: Leveraged Buyout (LBO)
Want to see what other hedge funds are holding INCY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Incyte Co. (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.