Gateway Investment Advisers LLC trimmed its position in shares of Incyte Co. (NASDAQ:INCY) by 11.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 7,402 shares of the biopharmaceutical company’s stock after selling 950 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Incyte were worth $511,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of INCY. Russell Investments Group Ltd. boosted its stake in Incyte by 99.8% during the first quarter. Russell Investments Group Ltd. now owns 75,150 shares of the biopharmaceutical company’s stock worth $6,271,000 after buying an additional 37,541 shares during the period. A.R.T. Advisors LLC bought a new stake in shares of Incyte during the first quarter worth $1,224,000. Blair William & Co. IL bought a new stake in shares of Incyte during the first quarter worth $405,000. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Incyte by 62.2% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,461 shares of the biopharmaceutical company’s stock worth $287,000 after purchasing an additional 1,327 shares during the last quarter. Finally, Assetmark Inc. lifted its position in shares of Incyte by 221.5% during the first quarter. Assetmark Inc. now owns 1,405 shares of the biopharmaceutical company’s stock worth $117,000 after purchasing an additional 968 shares during the last quarter. 91.57% of the stock is owned by institutional investors.
INCY stock opened at $66.06 on Friday. The company has a quick ratio of 4.32, a current ratio of 4.34 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $14.04 billion, a P/E ratio of 471.86 and a beta of 1.12. Incyte Co. has a 1-year low of $60.22 and a 1-year high of $117.95.
Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, July 31st. The biopharmaceutical company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.22. The firm had revenue of $521.50 million during the quarter, compared to the consensus estimate of $510.70 million. Incyte had a positive return on equity of 1.74% and a negative net margin of 5.92%. The firm’s quarterly revenue was up 59.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.06) earnings per share. On average, sell-side analysts anticipate that Incyte Co. will post 0.41 EPS for the current fiscal year.
Several analysts have recently weighed in on INCY shares. Zacks Investment Research upgraded Incyte from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a research report on Wednesday, October 10th. BidaskClub upgraded Incyte from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 31st. Raymond James reiterated a “buy” rating on shares of Incyte in a research report on Friday, July 27th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Incyte in a research report on Saturday, September 15th. Finally, ValuEngine upgraded Incyte from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 2nd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the company’s stock. Incyte has an average rating of “Buy” and an average price target of $94.43.
In related news, EVP Barry P. Flannelly sold 1,000 shares of Incyte stock in a transaction dated Wednesday, October 3rd. The stock was sold at an average price of $70.00, for a total value of $70,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Paula J. Swain sold 10,000 shares of Incyte stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $73.21, for a total value of $732,100.00. The disclosure for this sale can be found here. Insiders sold 31,000 shares of company stock valued at $2,202,100 over the last 90 days. 17.20% of the stock is currently owned by corporate insiders.
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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