Nordea Investment Management AB increased its stake in Incyte Corporation (NASDAQ:INCY) by 0.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,179 shares of the biopharmaceutical company’s stock after purchasing an additional 67 shares during the period. Nordea Investment Management AB’s holdings in Incyte Corporation were worth $1,030,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. increased its position in shares of Incyte Corporation by 9.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 27,147 shares of the biopharmaceutical company’s stock worth $3,418,000 after purchasing an additional 2,455 shares during the last quarter. Pinebridge Investments L.P. increased its position in shares of Incyte Corporation by 122.0% in the second quarter. Pinebridge Investments L.P. now owns 74,590 shares of the biopharmaceutical company’s stock worth $9,392,000 after purchasing an additional 40,992 shares during the last quarter. Calamos Advisors LLC increased its position in shares of Incyte Corporation by 37.7% in the second quarter. Calamos Advisors LLC now owns 113,132 shares of the biopharmaceutical company’s stock worth $14,244,000 after purchasing an additional 30,990 shares during the last quarter. Legal & General Group Plc increased its position in shares of Incyte Corporation by 11.5% in the first quarter. Legal & General Group Plc now owns 738,591 shares of the biopharmaceutical company’s stock worth $98,727,000 after purchasing an additional 76,447 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position in shares of Incyte Corporation by 23.3% in the second quarter. Pacer Advisors Inc. now owns 7,111 shares of the biopharmaceutical company’s stock worth $895,000 after purchasing an additional 1,345 shares during the last quarter. Institutional investors own 88.91% of the company’s stock.

Shares of Incyte Corporation (NASDAQ INCY) opened at 114.70 on Friday. The stock’s 50 day moving average price is $121.38 and its 200-day moving average price is $127.20. The stock’s market cap is $23.59 billion. Incyte Corporation has a 1-year low of $83.01 and a 1-year high of $153.15.

Incyte Corporation (NASDAQ:INCY) last released its earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.01). Incyte Corporation had a negative net margin of 11.77% and a negative return on equity of 21.57%. The company had revenue of $326.40 million for the quarter, compared to the consensus estimate of $318.45 million. During the same period in the prior year, the firm posted $0.18 EPS. The business’s revenue for the quarter was up 32.5% compared to the same quarter last year. On average, equities research analysts forecast that Incyte Corporation will post ($0.83) earnings per share for the current year.

Several research analysts recently weighed in on the stock. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Incyte Corporation in a research report on Friday. They issued a “buy” rating and a $160.00 price objective on the stock. Jefferies Group LLC restated a “buy” rating on shares of Incyte Corporation in a research report on Friday. Royal Bank Of Canada assumed coverage on shares of Incyte Corporation in a research report on Thursday, September 14th. They issued a “sector perform” rating and a $136.00 price objective on the stock. Argus restated a “buy” rating and issued a $150.00 price objective on shares of Incyte Corporation in a research report on Wednesday, September 13th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating and issued a $135.00 price objective on shares of Incyte Corporation in a research report on Sunday, September 10th. Seven equities research 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 stock. Incyte Corporation has an average rating of “Buy” and an average price target of $144.84.

In related news, President Herve Hoppenot sold 70,502 shares of the business’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $119.45, for a total transaction of $8,421,463.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Barry P. Flannelly sold 714 shares of the business’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $124.25, for a total value of $88,714.50. Following the transaction, the executive vice president now owns 15,496 shares of the company’s stock, valued at approximately $1,925,378. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,452 shares of company stock valued at $13,707,134. 17.70% of the stock is owned by company insiders.

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About Incyte Corporation

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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Institutional Ownership by Quarter for Incyte Corporation (NASDAQ:INCY)

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