4,856 Shares in Incyte Corporation (INCY) Purchased by IFM Investors Pty Ltd
IFM Investors Pty Ltd bought a new stake in Incyte Corporation (NASDAQ:INCY) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,856 shares of the biopharmaceutical company’s stock, valued at approximately $567,000.
Several other large investors also recently added to or reduced their stakes in the stock. Piedmont Investment Advisors LLC acquired a new stake in shares of Incyte in the third quarter valued at about $503,000. California Public Employees Retirement System increased its position in Incyte by 2.8% during the third quarter. California Public Employees Retirement System now owns 359,272 shares of the biopharmaceutical company’s stock worth $41,941,000 after buying an additional 9,672 shares during the last quarter. Virtu Financial LLC acquired a new position in Incyte during the third quarter worth approximately $542,000. Point72 Asset Management L.P. increased its position in Incyte by 723.0% during the third quarter. Point72 Asset Management L.P. now owns 164,600 shares of the biopharmaceutical company’s stock worth $19,215,000 after buying an additional 144,600 shares during the last quarter. Finally, Capital Bank & Trust Co increased its position in Incyte by 18.9% during the third quarter. Capital Bank & Trust Co now owns 830,688 shares of the biopharmaceutical company’s stock worth $96,975,000 after buying an additional 132,292 shares during the last quarter. 90.86% of the stock is currently owned by institutional investors and hedge funds.
Shares of Incyte Corporation (NASDAQ:INCY) opened at $95.97 on Friday. Incyte Corporation has a 1-year low of $92.91 and a 1-year high of $153.15. The company has a current ratio of 4.82, a quick ratio of 4.81 and a debt-to-equity ratio of 0.01.
Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.11. Incyte had a negative return on equity of 12.91% and a negative net margin of 10.90%. The company had revenue of $381.50 million during the quarter, compared to analysts’ expectations of $360.34 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The business’s revenue was up 41.6% on a year-over-year basis. sell-side analysts anticipate that Incyte Corporation will post -1.33 earnings per share for the current fiscal year.
A number of equities analysts have weighed in on the company. BMO Capital Markets reissued an “outperform” rating and set a $163.00 price target (down previously from $172.00) on shares of Incyte in a research report on Monday, September 11th. TheStreet downgraded Incyte from a “c-” rating to a “d+” rating in a research report on Tuesday, December 5th. Royal Bank of Canada assumed coverage on Incyte in a research report on Thursday, September 14th. They set a “sector perform” rating and a $136.00 price target on the stock. J P Morgan Chase & Co reissued a “buy” rating on shares of Incyte in a research report on Tuesday, October 31st. Finally, Raymond James Financial reissued a “buy” rating on shares of Incyte in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Incyte presently has a consensus rating of “Buy” and a consensus target price of $143.84.
In related news, EVP Reid M. Huber sold 696 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $98.01, for a total value of $68,214.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul A. Friedman sold 28,507 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $105.24, for a total value of $3,000,076.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 103,620 shares of company stock valued at $11,903,297. Corporate insiders own 17.70% of the company’s stock.
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Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).
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