Archon Partners LLC Continues to Hold Stake in Incyte Corporation (INCY)
Archon Partners LLC continued to hold its position in Incyte Corporation (NASDAQ:INCY) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,000 shares of the biopharmaceutical company’s stock at the end of the second quarter. Archon Partners LLC’s holdings in Incyte Corporation were worth $881,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in INCY. D. Scott Neal Inc. bought a new position in Incyte Corporation during the second quarter worth about $103,000. Tower Research Capital LLC TRC bought a new position in Incyte Corporation during the first quarter worth about $105,000. Cornerstone Advisors Inc. boosted its position in Incyte Corporation by 19.6% in the second quarter. Cornerstone Advisors Inc. now owns 884 shares of the biopharmaceutical company’s stock worth $111,000 after buying an additional 145 shares in the last quarter. Exane Asset Management bought a new position in Incyte Corporation during the second quarter worth about $126,000. Finally, FNY Partners Fund LP boosted its position in Incyte Corporation by 4,825.0% in the first quarter. FNY Partners Fund LP now owns 985 shares of the biopharmaceutical company’s stock worth $131,000 after buying an additional 965 shares in the last quarter. Institutional investors and hedge funds own 91.04% of the company’s stock.
Incyte Corporation (NASDAQ:INCY) opened at 123.54 on Tuesday. Incyte Corporation has a 52 week low of $77.58 and a 52 week high of $153.15. The company’s market capitalization is $25.41 billion. The company’s 50-day moving average is $129.05 and its 200 day moving average is $129.60.
Incyte Corporation (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by $0.01. The firm had revenue of $326.40 million for the quarter, compared to analysts’ expectations of $318.45 million. Incyte Corporation had a negative net margin of 11.77% and a negative return on equity of 21.57%. The business’s quarterly revenue was up 32.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.18 EPS. On average, analysts forecast that Incyte Corporation will post ($0.86) EPS for the current fiscal year.
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A number of equities analysts recently issued reports on INCY shares. Cowen and Company reiterated a “buy” rating on shares of Incyte Corporation in a research report on Friday, May 5th. J P Morgan Chase & Co set a $149.00 price objective on shares of Incyte Corporation and gave the stock a “buy” rating in a research report on Thursday, May 18th. Jefferies Group LLC reiterated a “buy” rating and set a $148.00 price objective on shares of Incyte Corporation in a research report on Thursday, May 18th. Credit Suisse Group reiterated a “buy” rating on shares of Incyte Corporation in a research report on Saturday, June 10th. Finally, BidaskClub upgraded shares of Incyte Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday, June 27th. Eight research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $140.16.
In other Incyte Corporation news, EVP Eric H. Siegel sold 1,820 shares of Incyte Corporation stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $130.00, for a total value of $236,600.00. Following the transaction, the executive vice president now owns 18,744 shares in the company, valued at $2,436,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jean Jacques Bienaime bought 500 shares of the business’s stock in a transaction on Wednesday, May 31st. The stock was bought at an average price of $131.80 per share, for a total transaction of $65,900.00. Following the purchase, the director now directly owns 4,677 shares of the company’s stock, valued at $616,428.60. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 48,183 shares of company stock worth $5,976,946. Insiders own 17.70% of the company’s stock.
Incyte Corporation Company Profile
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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