Vident Investment Advisory LLC purchased a new position in Incyte Co. (NASDAQ:INCY) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 15,147 shares of the biopharmaceutical company’s stock, valued at approximately $1,574,000.
Other hedge funds have also modified their holdings of the company. Nisa Investment Advisors LLC increased its holdings in Incyte by 15.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 77,173 shares of the biopharmaceutical company’s stock worth $8,024,000 after acquiring an additional 10,607 shares in the last quarter. Grandfield & Dodd LLC lifted its holdings in Incyte by 6.8% during the second quarter. Grandfield & Dodd LLC now owns 11,953 shares of the biopharmaceutical company’s stock valued at $1,240,000 after purchasing an additional 760 shares in the last quarter. NN Investment Partners Holdings N.V. grew its position in shares of Incyte by 197.1% in the second quarter. NN Investment Partners Holdings N.V. now owns 385,976 shares of the biopharmaceutical company’s stock valued at $40,127,000 after purchasing an additional 256,073 shares during the period. Dupont Capital Management Corp increased its stake in shares of Incyte by 1.7% during the second quarter. Dupont Capital Management Corp now owns 10,918 shares of the biopharmaceutical company’s stock worth $1,135,000 after purchasing an additional 178 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. raised its position in shares of Incyte by 10.5% during the 2nd quarter. Candriam Luxembourg S.C.A. now owns 320,566 shares of the biopharmaceutical company’s stock worth $33,330,000 after purchasing an additional 30,545 shares during the last quarter. Institutional investors own 91.42% of the company’s stock.
Several research firms recently issued reports on INCY. Mizuho reiterated a “hold” rating and issued a $79.00 price objective on shares of Incyte in a report on Sunday, April 19th. Piper Sandler boosted their price target on Incyte from $95.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. Morgan Stanley increased their price objective on Incyte from $94.00 to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 12th. Cantor Fitzgerald lifted their target price on shares of Incyte from $83.00 to $100.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 19th. Finally, JPMorgan Chase & Co. reiterated a “hold” rating and issued a $99.00 target price on shares of Incyte in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $101.45.
Incyte stock opened at $98.76 on Friday. The firm has a 50 day simple moving average of $102.52 and a 200-day simple moving average of $89.08. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.41 and a quick ratio of 3.38. Incyte Co. has a 1-year low of $62.48 and a 1-year high of $110.36.
Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, May 5th. The biopharmaceutical company reported ($2.86) EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($3.17). The business had revenue of $568.51 million during the quarter, compared to analyst estimates of $553.24 million. Incyte had a negative net margin of 16.87% and a negative return on equity of 12.81%. The company’s revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.62 earnings per share. Equities analysts forecast that Incyte Co. will post -1.18 EPS for the current year.
In other Incyte news, EVP Steven H. Stein sold 766 shares of the stock in a transaction dated Thursday, July 16th. The shares were sold at an average price of $103.83, for a total transaction of $79,533.78. Following the completion of the transaction, the executive vice president now owns 96,234 shares of the company’s stock, valued at $9,991,976.22. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul Trower sold 6,943 shares of Incyte stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $110.00, for a total transaction of $763,730.00. Following the sale, the insider now owns 28,677 shares of the company’s stock, valued at $3,154,470. The disclosure for this sale can be found here. Insiders sold 250,175 shares of company stock worth $26,519,987 in the last 90 days. Company insiders own 16.10% of the company’s stock.
Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.
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