Sei Investments Co. Lowers Holdings in Incyte Corporation (INCY)
Sei Investments Co. decreased its position in shares of Incyte Corporation (NASDAQ:INCY) by 2.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,744 shares of the biopharmaceutical company’s stock after selling 1,232 shares during the period. Sei Investments Co.’s holdings in Incyte were worth $4,990,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Incyte by 11.1% in the second quarter. Vanguard Group Inc. now owns 17,125,542 shares of the biopharmaceutical company’s stock worth $2,156,276,000 after buying an additional 1,709,685 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Incyte by 4,570.1% in the second quarter. Janus Henderson Group PLC now owns 1,045,363 shares of the biopharmaceutical company’s stock worth $131,622,000 after buying an additional 1,022,979 shares during the period. Old Mutual Global Investors UK Ltd. increased its holdings in shares of Incyte by 374.4% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 930,319 shares of the biopharmaceutical company’s stock worth $108,605,000 after buying an additional 734,235 shares during the period. Jennison Associates LLC increased its holdings in shares of Incyte by 64.1% in the second quarter. Jennison Associates LLC now owns 1,313,982 shares of the biopharmaceutical company’s stock worth $165,443,000 after buying an additional 513,423 shares during the period. Finally, Matrix Capital Management Company LP increased its holdings in shares of Incyte by 28.3% in the second quarter. Matrix Capital Management Company LP now owns 1,796,716 shares of the biopharmaceutical company’s stock worth $226,225,000 after buying an additional 396,716 shares during the period. Institutional investors and hedge funds own 89.60% of the company’s stock.
Shares of Incyte Corporation (NASDAQ:INCY) opened at $98.78 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 $96.60 and a 12-month high of $153.15.
Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.11. The business had revenue of $381.50 million for the quarter, compared to analysts’ expectations of $360.34 million. Incyte had a negative return on equity of 12.91% and a negative net margin of 10.90%. The business’s revenue was up 41.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.19 EPS. sell-side analysts predict that Incyte Corporation will post -1.33 earnings per share for the current year.
In related news, Director Bros. Advisors Lp Baker purchased 100,000 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were purchased at an average cost of $132.00 per share, with a total value of $13,200,000.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Paul A. Friedman sold 28,507 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $105.24, for a total value of $3,000,076.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 130,569 shares of company stock worth $15,652,970. Insiders own 17.70% of the company’s stock.
Several research firms have recently commented on INCY. Royal Bank Of Canada decreased their price objective on Incyte from $136.00 to $120.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 21st. Oppenheimer Holdings, Inc. set a $135.00 price objective on Incyte and gave the stock a “hold” rating in a report on Tuesday, October 31st. BMO Capital Markets lifted their price objective on Incyte from $162.00 to $166.00 and gave the stock an “outperform” rating in a report on Tuesday, October 31st. J P Morgan Chase & Co reissued a “buy” rating on shares of Incyte in a research note on Tuesday, October 31st. Finally, Goldman Sachs Group Inc began coverage on Incyte in a research note on Friday, October 6th. They issued a “buy” rating and a $160.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Incyte has an average rating of “Buy” and a consensus target price of $145.65.
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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