IFM Investors Pty Ltd Has $2.36 Million Stock Holdings in Incyte Co. (NASDAQ:INCY)

IFM Investors Pty Ltd boosted its position in shares of Incyte Co. (NASDAQ:INCY – Get Rating) by 16.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,655 shares of the biopharmaceutical company’s stock after buying an additional 4,159 shares during the quarter. IFM Investors Pty Ltd’s holdings in Incyte were worth $2,355,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. National Bank of Canada FI raised its position in shares of Incyte by 4,666.1% during the 1st quarter. National Bank of Canada FI now owns 28,358 shares of the biopharmaceutical company’s stock valued at $2,232,000 after acquiring an additional 27,763 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Incyte by 52.4% during the 1st quarter. Russell Investments Group Ltd. now owns 430,741 shares of the biopharmaceutical company’s stock valued at $34,212,000 after acquiring an additional 148,148 shares during the last quarter. State of Michigan Retirement System raised its position in shares of Incyte by 0.3% during the 1st quarter. State of Michigan Retirement System now owns 47,459 shares of the biopharmaceutical company’s stock valued at $3,769,000 after acquiring an additional 155 shares during the last quarter. Prospera Financial Services Inc bought a new stake in shares of Incyte during the 1st quarter valued at $262,000. Finally, Victory Capital Management Inc. raised its position in shares of Incyte by 41.3% during the 1st quarter. Victory Capital Management Inc. now owns 151,465 shares of the biopharmaceutical company’s stock valued at $11,354,000 after acquiring an additional 44,303 shares during the last quarter. Institutional investors own 92.78% of the company’s stock.

Insider Buying and Selling

In other news, EVP Vijay K. Iyengar sold 5,787 shares of the stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $79.38, for a total transaction of $459,372.06. Following the completion of the transaction, the executive vice president now directly owns 40,313 shares in the company, valued at approximately $3,200,045.94. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Thomas Tray sold 1,564 shares of the stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $83.13, for a total transaction of $130,015.32. Following the completion of the transaction, the insider now directly owns 17,702 shares in the company, valued at approximately $1,471,567.26. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Vijay K. Iyengar sold 5,787 shares of the stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $79.38, for a total transaction of $459,372.06. Following the transaction, the executive vice president now owns 40,313 shares of the company’s stock, valued at $3,200,045.94. The disclosure for this sale can be found here. Company insiders own 15.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on INCY. StockNews.com upgraded shares of Incyte from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. TheStreet upgraded shares of Incyte from a “c” rating to a “b” rating in a research report on Tuesday. SVB Leerink upped their price objective on shares of Incyte from $58.00 to $63.00 and gave the company an “underperform” rating in a research report on Wednesday, July 20th. Evercore ISI cut shares of Incyte from an “outperform” rating to an “inline” rating and lowered their price objective for the company from $90.00 to $78.00 in a research report on Wednesday. Finally, Morgan Stanley lowered their price objective on shares of Incyte from $77.00 to $76.00 and set an “equal weight” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $84.92.

Incyte Price Performance

Shares of NASDAQ INCY opened at $72.16 on Friday. The firm has a market cap of $15.98 billion, a PE ratio of 16.98, a PEG ratio of 0.87 and a beta of 0.64. The company has a current ratio of 3.91, a quick ratio of 3.67 and a debt-to-equity ratio of 0.01. Incyte Co. has a 1-year low of $61.91 and a 1-year high of $84.86. The company has a fifty day moving average price of $76.16 and a 200 day moving average price of $75.21.

Incyte (NASDAQ:INCY – Get Rating) last announced its earnings results on Tuesday, August 2nd. The biopharmaceutical company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.22. The firm had revenue of $911.40 million during the quarter, compared to analyst estimates of $818.25 million. Incyte had a net margin of 28.46% and a return on equity of 13.02%. The company’s revenue for the quarter was up 29.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.65 EPS. Research analysts predict that Incyte Co. will post 2.31 earnings per share for the current fiscal year.

About Incyte

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Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States and internationally. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in various liquid and solid tumor types; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.