Incyte Corporation (INCY) Stake Decreased by ETRADE Capital Management LLC
ETRADE Capital Management LLC lessened its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 20.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,530 shares of the biopharmaceutical company’s stock after selling 652 shares during the period. ETRADE Capital Management LLC’s holdings in Incyte Corporation were worth $319,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC bought a new stake in Incyte Corporation during the first quarter worth approximately $105,000. D. Scott Neal Inc. bought a new stake in Incyte Corporation during the second quarter worth approximately $103,000. Cornerstone Advisors Inc. raised its holdings in Incyte Corporation by 19.6% during the second quarter. Cornerstone Advisors Inc. now owns 884 shares of the biopharmaceutical company’s stock worth $111,000 after purchasing an additional 145 shares in the last quarter. FNY Partners Fund LP raised its holdings in Incyte Corporation by 4,825.0% during the first quarter. FNY Partners Fund LP now owns 985 shares of the biopharmaceutical company’s stock worth $131,000 after purchasing an additional 965 shares in the last quarter. Finally, Exane Asset Management bought a new stake in Incyte Corporation during the second quarter worth approximately $126,000. 88.91% of the stock is currently owned by institutional investors.
Incyte Corporation (INCY) opened at 116.74 on Friday. The firm’s 50-day moving average is $126.44 and its 200 day moving average is $129.92. Incyte Corporation has a 52-week low of $83.01 and a 52-week high of $153.15. The stock’s market capitalization is $24.01 billion.
Incyte Corporation (NASDAQ:INCY) last posted 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). The firm had revenue of $326.40 million during the quarter, compared to analyst estimates of $318.45 million. Incyte Corporation had a negative return on equity of 21.57% and a negative net margin of 11.77%. The company’s revenue for the quarter was up 32.5% on a year-over-year basis. During the same quarter last year, the business posted $0.18 earnings per share. On average, equities analysts forecast that Incyte Corporation will post ($0.83) earnings per share for the current year.
In other news, President Herve Hoppenot sold 70,502 shares of the stock in a transaction on Monday, September 18th. The shares were sold at an average price of $119.45, for a total transaction of $8,421,463.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Bros. Advisors Lp Baker acquired 100,000 shares of the stock in a transaction dated Friday, September 8th. The shares were bought at an average cost of $132.00 per share, with a total value of $13,200,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 114,272 shares of company stock worth $14,315,358. Company insiders own 17.70% of the company’s stock.
Several brokerages recently commented on INCY. Royal Bank Of Canada began coverage on Incyte Corporation in a report on Thursday, September 14th. They set a “sector perform” rating and a $136.00 target price on the stock. Argus reissued a “buy” rating and set a $150.00 target price on shares of Incyte Corporation in a report on Wednesday, September 13th. Oppenheimer Holdings, Inc. reissued a “hold” rating and set a $135.00 target price on shares of Incyte Corporation in a report on Sunday, September 10th. BMO Capital Markets reissued an “outperform” rating and set a $163.00 target price (down previously from $172.00) on shares of Incyte Corporation in a report on Monday, September 11th. Finally, Raymond James Financial, Inc. raised Incyte Corporation from a “market perform” rating to an “outperform” rating and set a $159.00 target price on the stock in a report on Monday, September 11th. 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’s stock. Incyte Corporation presently has a consensus rating of “Buy” and an average target price of $142.16.
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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