Mitsubishi UFJ Trust & Banking Corp trimmed its stake in Incyte Co. (NASDAQ:INCY) by 63.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,893 shares of the biopharmaceutical company’s stock after selling 231,102 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.06% of Incyte worth $9,318,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Verition Fund Management LLC increased its stake in Incyte by 247.4% in the 2nd quarter. Verition Fund Management LLC now owns 20,377 shares of the biopharmaceutical company’s stock worth $1,365,000 after buying an additional 14,511 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Incyte by 75.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 37,382 shares of the biopharmaceutical company’s stock worth $2,582,000 after buying an additional 16,070 shares in the last quarter. Baird Financial Group Inc. increased its stake in Incyte by 93.3% in the 2nd quarter. Baird Financial Group Inc. now owns 57,759 shares of the biopharmaceutical company’s stock worth $3,870,000 after buying an additional 27,886 shares in the last quarter. First Trust Advisors LP increased its stake in Incyte by 80.8% in the 3rd quarter. First Trust Advisors LP now owns 1,546,098 shares of the biopharmaceutical company’s stock worth $106,804,000 after buying an additional 691,111 shares in the last quarter. Finally, Blackhawk Capital Partners LLC. increased its stake in Incyte by 133.0% in the 2nd quarter. Blackhawk Capital Partners LLC. now owns 3,670 shares of the biopharmaceutical company’s stock worth $246,000 after buying an additional 2,095 shares in the last quarter. Hedge funds and other institutional investors own 90.61% of the company’s stock.

Shares of NASDAQ:INCY opened at $65.10 on Friday. The company has a quick ratio of 4.01, a current ratio of 4.02 and a debt-to-equity ratio of 0.01. Incyte Co. has a 12 month low of $58.33 and a 12 month high of $102.63. The stock has a market capitalization of $13.94 billion, a P/E ratio of 101.72 and a beta of 1.05.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, October 30th. The biopharmaceutical company reported $0.38 EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.02). Incyte had a negative net margin of 6.07% and a positive return on equity of 2.23%. The business had revenue of $449.68 million during the quarter, compared to the consensus estimate of $448.34 million. During the same period in the previous year, the business posted $0.19 EPS. The firm’s revenue was up 17.9% on a year-over-year basis. On average, sell-side analysts forecast that Incyte Co. will post 0.43 earnings per share for the current year.

A number of equities research analysts have issued reports on the company. Oppenheimer set a $70.00 price target on Incyte and gave the stock a “hold” rating in a research note on Thursday, September 13th. BidaskClub upgraded Incyte from a “hold” rating to a “buy” rating in a research note on Monday, August 20th. Cantor Fitzgerald began coverage on shares of Incyte in a report on Monday, October 1st. They set a “neutral” rating and a $73.00 price objective for the company. Zacks Investment Research downgraded shares of Incyte from a “buy” rating to a “hold” rating in a report on Tuesday, October 16th. Finally, Guggenheim began coverage on shares of Incyte in a report on Monday, September 17th. They set a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $94.48.

In other Incyte news, insider Paul Trower sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, October 3rd. The shares were sold at an average price of $70.00, for a total value of $700,000.00. Following the completion of the sale, the insider now owns 24,172 shares of the company’s stock, valued at $1,692,040. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jean Jacques Bienaime acquired 1,000 shares of the firm’s stock in a transaction on Thursday, November 8th. The stock was purchased at an average cost of $68.77 per share, with a total value of $68,770.00. Following the purchase, the director now owns 6,168 shares of the company’s stock, valued at $424,173.36. The disclosure for this purchase can be found here. 17.20% of the stock is currently owned by company insiders.

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About Incyte

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States. It offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and ICLUSIG, a kinase inhibitor for the treatment of chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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