Oppenheimer Asset Management Inc. Reduces Position in Incyte Corporation (INCY)
Oppenheimer Asset Management Inc. trimmed its position in shares of Incyte Corporation (NASDAQ:INCY) by 2.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,416 shares of the biopharmaceutical company’s stock after selling 731 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Incyte were worth $3,083,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. L & S Advisors Inc grew its holdings in Incyte by 56.4% in the 3rd quarter. L & S Advisors Inc now owns 6,140 shares of the biopharmaceutical company’s stock valued at $717,000 after buying an additional 2,215 shares in the last quarter. Magnetar Financial LLC purchased a new stake in Incyte in the 3rd quarter valued at $404,000. Asset Management One Co. Ltd. grew its holdings in Incyte by 7.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 349,926 shares of the biopharmaceutical company’s stock valued at $40,538,000 after buying an additional 24,805 shares in the last quarter. Granite Point Capital Management L.P. grew its holdings in Incyte by 44.0% in the 3rd quarter. Granite Point Capital Management L.P. now owns 18,000 shares of the biopharmaceutical company’s stock valued at $2,101,000 after buying an additional 5,500 shares in the last quarter. Finally, AMP Capital Investors Ltd grew its holdings in Incyte by 0.7% in the 3rd quarter. AMP Capital Investors Ltd now owns 72,076 shares of the biopharmaceutical company’s stock valued at $8,414,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 90.86% of the company’s stock.
In other news, President Herve Hoppenot sold 70,502 shares of the stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $119.45, for a total value of $8,421,463.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Reid M. Huber sold 696 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $98.01, for a total value of $68,214.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,334 shares of company stock worth $11,992,011. Company insiders own 17.70% of the company’s stock.
Several brokerages have issued reports on INCY. BMO Capital Markets restated an “outperform” rating and issued a $163.00 target price (down from $172.00) on shares of Incyte in a report on Monday, September 11th. Oppenheimer reaffirmed a “hold” rating and issued a $135.00 price target on shares of Incyte in a research note on Sunday, September 10th. Goldman Sachs Group began coverage on Incyte in a research note on Friday, October 6th. They issued a “buy” rating and a $160.00 price target on the stock. ValuEngine lowered Incyte from a “hold” rating to a “sell” rating in a research note on Wednesday, November 29th. Finally, Evercore ISI began coverage on Incyte in a research note on Wednesday, August 16th. They issued an “in-line” rating and a $135.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $145.65.
Shares of Incyte Corporation (NASDAQ:INCY) opened at $96.58 on Monday. The company has a quick ratio of 4.81, a current ratio of 4.82 and a debt-to-equity ratio of 0.01. Incyte Corporation has a 12-month low of $92.91 and a 12-month high of $153.15.
Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.11. The company had revenue of $381.50 million for the quarter, compared to analyst estimates of $360.34 million. Incyte had a negative return on equity of 12.91% and a negative net margin of 10.90%. Incyte’s revenue for the quarter was up 41.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.19 EPS. analysts anticipate that Incyte Corporation will post -1.33 EPS for the current year.
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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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