Archon Partners LLC acquired a new stake in Incyte Corporation (NASDAQ:INCY) during the fourth quarter, Holdings Channel reports. The firm acquired 3,500 shares of the biopharmaceutical company’s stock, valued at approximately $351,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of INCY. Walleye Trading LLC bought a new position in shares of Incyte Corporation during the second quarter valued at approximately $120,000. Toronto Dominion Bank raised its position in shares of Incyte Corporation by 57.3% in the third quarter. Toronto Dominion Bank now owns 1,457 shares of the biopharmaceutical company’s stock valued at $137,000 after buying an additional 531 shares during the period. Seven Bridges Advisors LLC raised its position in shares of Incyte Corporation by 27.1% in the third quarter. Seven Bridges Advisors LLC now owns 1,867 shares of the biopharmaceutical company’s stock valued at $176,000 after buying an additional 398 shares during the period. Pinnacle Associates Ltd. bought a new position in shares of Incyte Corporation during the fourth quarter valued at approximately $212,000. Finally, Exencial Wealth Advisors LLC bought a new position in shares of Incyte Corporation during the fourth quarter valued at approximately $215,000. Institutional investors and hedge funds own 92.62% of the company’s stock.

Institutional Ownership by Quarter for Incyte Corporation (NASDAQ:INCY)

Shares of Incyte Corporation (NASDAQ:INCY) traded down 0.63% during mid-day trading on Thursday, hitting $120.18. 990,699 shares of the stock were exchanged. Incyte Corporation has a 12 month low of $60.30 and a 12 month high of $125.49. The stock has a market cap of $22.67 billion, a PE ratio of 222.56 and a beta of 0.78. The stock’s 50 day moving average is $116.68 and its 200-day moving average is $97.87.

Incyte Corporation (NASDAQ:INCY) last released its earnings results on Tuesday, February 14th. The biopharmaceutical company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.13 by $0.08. Incyte Corporation had a return on equity of 50.38% and a net margin of 14.71%. The business had revenue of $326 million for the quarter, compared to the consensus estimate of $324.90 million. During the same quarter last year, the business posted $0.29 earnings per share. The firm’s revenue for the quarter was up 33.9% compared to the same quarter last year. On average, analysts anticipate that Incyte Corporation will post $1.26 EPS for the current year.

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Several brokerages have commented on INCY. JMP Securities restated an “outperform” rating and issued a $130.00 price objective on shares of Incyte Corporation in a report on Wednesday, January 18th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $149.00 target price (up from $135.00) on shares of Incyte Corporation in a research report on Thursday. Vetr raised shares of Incyte Corporation from a “buy” rating to a “strong-buy” rating and set a $133.50 target price on the stock in a research report on Monday, January 30th. Credit Suisse Group initiated coverage on shares of Incyte Corporation in a research report on Monday, January 23rd. They issued an “outperform” rating and a $137.00 target price on the stock. Finally, Leerink Swann reaffirmed an “outperform” rating and issued a $115.00 target price (up from $101.00) on shares of Incyte Corporation in a research report on Sunday, November 20th. Two analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $122.31.

In other news, EVP Reid M. Huber sold 11,739 shares of Incyte Corporation stock in a transaction on Monday, January 9th. The stock was sold at an average price of $113.55, for a total transaction of $1,332,963.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.70% of the stock is currently owned by company insiders.

Incyte Corporation Company Profile

Incyte Corporation is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapeutics to treat medical needs, primarily in oncology. The Company focuses on the research and development program to explore the inhibition of enzymes called janus associated kinases (JAK).

5 Day Chart for NASDAQ:INCY

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