CIBC Asset Management Inc Grows Position in Incyte Corporation (INCY)
CIBC Asset Management Inc lifted its holdings in Incyte Corporation (NASDAQ:INCY) by 4.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,995 shares of the biopharmaceutical company’s stock after buying an additional 1,093 shares during the quarter. CIBC Asset Management Inc’s holdings in Incyte Corporation were worth $2,918,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Cornerstone Advisors Inc. lifted its stake in shares of 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 acquiring an additional 145 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Incyte Corporation by 13.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 891 shares of the biopharmaceutical company’s stock valued at $112,000 after purchasing an additional 108 shares in the last quarter. Seven Eight Capital LP acquired a new stake in shares of Incyte Corporation during the 2nd quarter valued at $129,000. IFP Advisors Inc lifted its position in shares of Incyte Corporation by 9.9% during the 2nd quarter. IFP Advisors Inc now owns 1,146 shares of the biopharmaceutical company’s stock valued at $144,000 after acquiring an additional 103 shares during the last quarter. Finally, Sun Life Financial INC lifted its position in shares of Incyte Corporation by 9,069.2% during the 2nd quarter. Sun Life Financial INC now owns 1,192 shares of the biopharmaceutical company’s stock valued at $150,000 after acquiring an additional 1,179 shares during the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.
In other Incyte Corporation news, insider David W. Gryska sold 3,915 shares of the stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $105.63, for a total value of $413,541.45. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, President Herve Hoppenot sold 70,502 shares of the stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $119.45, for a total value of $8,421,463.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 102,062 shares of company stock valued at $12,652,893. 17.70% of the stock is owned by corporate insiders.
A number of analysts have recently issued reports on the company. BMO Capital Markets restated an “outperform” rating and issued a $163.00 target price (down previously from $172.00) on shares of Incyte Corporation in a report on Monday, September 11th. Oppenheimer Holdings, Inc. reissued a “hold” rating and set a $135.00 target price on shares of Incyte Corporation in a research report on Sunday, September 10th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $148.00 price target on shares of Incyte Corporation in a research report on Thursday, July 27th. The Goldman Sachs Group, Inc. assumed coverage on Incyte Corporation in a research report on Friday, October 6th. They set a “buy” rating and a $160.00 target price on the stock. Finally, Evercore ISI assumed coverage on Incyte Corporation in a research report on Wednesday, August 16th. They set an “in-line” rating and a $135.00 target price on the stock. Seven 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’s stock. The stock has a consensus rating of “Buy” and an average target price of $144.98.
Shares of Incyte Corporation (NASDAQ:INCY) opened at $106.48 on Friday. Incyte Corporation has a 52-week low of $98.49 and a 52-week high of $153.15. The company has a quick ratio of 4.81, a current ratio of 4.82 and a debt-to-equity ratio of 0.01.
Incyte Corporation (NASDAQ:INCY) last issued its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.17 EPS for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.11. The firm had revenue of $381.50 million for the quarter, compared to analyst estimates of $360.34 million. Incyte Corporation had a negative return on equity of 12.91% and a negative net margin of 10.90%. Incyte Corporation’s revenue for the quarter was up 41.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.19 earnings per share. equities analysts anticipate that Incyte Corporation will post -1.3 EPS for the current year.
Incyte Corporation 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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