L & S Advisors Inc Takes Position in Incyte Corporation (INCY)
L & S Advisors Inc purchased a new stake in Incyte Corporation (NASDAQ:INCY) during the first quarter, Holdings Channel reports. The firm purchased 2,920 shares of the biopharmaceutical company’s stock, valued at approximately $390,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Shelton Capital Management raised its position in Incyte Corporation by 30,859.4% in the fourth quarter. Shelton Capital Management now owns 3,595,000 shares of the biopharmaceutical company’s stock valued at $1,164,000 after buying an additional 3,583,388 shares in the last quarter. Norges Bank bought a new position in Incyte Corporation during the fourth quarter valued at approximately $180,561,000. Fred Alger Management Inc. raised its position in Incyte Corporation by 228.6% in the fourth quarter. Fred Alger Management Inc. now owns 1,765,425 shares of the biopharmaceutical company’s stock valued at $177,019,000 after buying an additional 1,228,201 shares in the last quarter. Victory Capital Management Inc. bought a new position in Incyte Corporation during the first quarter valued at approximately $85,751,000. Finally, Federated Investors Inc. PA raised its position in Incyte Corporation by 9,088.7% in the fourth quarter. Federated Investors Inc. PA now owns 577,141 shares of the biopharmaceutical company’s stock valued at $57,870,000 after buying an additional 570,860 shares in the last quarter. Institutional investors own 92.89% of the company’s stock.
Incyte Corporation (NASDAQ INCY) traded up 1.7771% during mid-day trading on Tuesday, hitting $118.5092. 805,102 shares of the stock traded hands. The stock’s market cap is $24.27 billion. Incyte Corporation has a 12 month low of $71.75 and a 12 month high of $153.15. The stock has a 50-day moving average price of $124.69 and a 200-day moving average price of $122.73.
Incyte Corporation (NASDAQ:INCY) last announced its quarterly earnings data on Thursday, May 4th. The biopharmaceutical company reported ($0.96) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.97) by $0.01. Incyte Corporation had a negative net margin of 8.72% and a negative return on equity of 20.09%. The business had revenue of $384.08 million for the quarter, compared to analyst estimates of $359.19 million. During the same period last year, the business earned $0.12 EPS. The company’s revenue was up 45.8% on a year-over-year basis. On average, equities analysts forecast that Incyte Corporation will post ($0.75) earnings per share for the current year.
INCY has been the subject of several recent research reports. Zacks Investment Research upgraded Incyte Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 23rd. TheStreet lowered Incyte Corporation from a “c+” rating to a “d+” rating in a research report on Thursday, May 4th. Cowen and Company reiterated a “buy” rating on shares of Incyte Corporation in a research report on Friday, May 5th. Jefferies Group LLC reiterated a “buy” rating and issued a $165.00 price target on shares of Incyte Corporation in a research report on Thursday, April 6th. Finally, Credit Suisse Group set a $167.00 price target on Incyte Corporation and gave the stock a “buy” rating in a research report on Wednesday, April 19th. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Incyte Corporation has an average rating of “Buy” and an average price target of $141.93.
In related news, insider David W. Gryska sold 41,528 shares of Incyte Corporation stock in a transaction on Monday, April 10th. The shares were sold at an average price of $138.00, for a total transaction of $5,730,864.00. Following the sale, the insider now directly owns 20,754 shares in the company, valued at approximately $2,864,052. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jean Jacques Bienaime purchased 500 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The shares were bought at an average price of $115.00 per share, for a total transaction of $57,500.00. Following the completion of the purchase, the director now directly owns 4,177 shares in the company, valued at $480,355. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 3,500 shares of company stock worth $464,670 and have sold 142,788 shares worth $20,029,345. 13.70% of the stock is owned by company insiders.
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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