ARK Investment Management LLC Invests $228,000 in Incyte Corporation (INCY)
ARK Investment Management LLC bought a new stake in shares of Incyte Corporation (NASDAQ:INCY) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,272 shares of the biopharmaceutical company’s stock, valued at approximately $228,000.
Several other institutional investors also recently added to or reduced their stakes in the stock. Public Employees Retirement Association of Colorado increased its position in Incyte Corporation by 0.6% in the second quarter. Public Employees Retirement Association of Colorado now owns 36,740 shares of the biopharmaceutical company’s stock valued at $2,938,000 after buying an additional 206 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its position in Incyte Corporation by 0.9% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 11,453 shares of the biopharmaceutical company’s stock worth $916,000 after buying an additional 97 shares during the last quarter. Concert Wealth Management Inc. acquired a new position in Incyte Corporation during the second quarter worth about $218,000. Frontier Capital Management Co. LLC boosted its position in Incyte Corporation by 64.7% in the second quarter. Frontier Capital Management Co. LLC now owns 810,408 shares of the biopharmaceutical company’s stock worth $64,816,000 after buying an additional 318,495 shares during the last quarter. Finally, Mariner Investment Group LLC boosted its position in Incyte Corporation by 38.9% in the second quarter. Mariner Investment Group LLC now owns 44,300 shares of the biopharmaceutical company’s stock worth $3,543,000 after buying an additional 12,400 shares during the last quarter. 92.62% of the stock is currently owned by hedge funds and other institutional investors.
Incyte Corporation (NASDAQ:INCY) traded down 0.63% on Thursday, hitting $120.18. The stock had a trading volume of 990,699 shares. Incyte Corporation has a 52-week low of $60.30 and a 52-week high of $125.49. The firm’s 50-day moving average is $116.12 and its 200-day moving average is $97.71. The company has a market cap of $22.67 billion, a P/E ratio of 222.56 and a beta of 0.78.
Incyte Corporation (NASDAQ:INCY) last posted its earnings results on Tuesday, February 14th. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by $0.08. The business had revenue of $326 million for the quarter, compared to analyst estimates of $324.90 million. Incyte Corporation had a return on equity of 50.38% and a net margin of 14.71%. Incyte Corporation’s revenue was up 33.9% compared to the same quarter last year. During the same period last year, the business earned $0.29 EPS. Equities research analysts anticipate that Incyte Corporation will post $1.26 earnings per share for the current fiscal year.
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A number of equities analysts recently issued reports on the company. Royal Bank Of Canada boosted their price objective on Incyte Corporation from $123.00 to $138.00 and gave the company an “outperform” rating in a report on Wednesday. Jefferies Group LLC boosted their price objective on Incyte Corporation from $136.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday. RBC Capital Markets restated an “outperform” rating and set a $138.00 price objective (up previously from $123.00) on shares of Incyte Corporation in a report on Tuesday. J P Morgan Chase & Co restated a “buy” rating and set a $136.00 price objective on shares of Incyte Corporation in a report on Thursday. Finally, BMO Capital Markets restated an “outperform” rating and set a $149.00 price objective (up previously from $135.00) on shares of Incyte Corporation in a report on Thursday. Two investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Incyte Corporation has an average rating of “Buy” and an average target price of $122.31.
In other Incyte Corporation news, EVP Reid M. Huber sold 11,739 shares of the firm’s 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 13.70% of the stock is owned by company insiders.
About Incyte Corporation
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).
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