Cullen Frost Bankers Inc. Buys New Position in Incyte Corporation (INCY)
Cullen Frost Bankers Inc. bought a new stake in Incyte Corporation (NASDAQ:INCY) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 48,161 shares of the biopharmaceutical company’s stock, valued at approximately $6,064,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. IFP Advisors Inc boosted its position in shares of Incyte Corporation by 9.9% in the second quarter. IFP Advisors Inc now owns 1,146 shares of the biopharmaceutical company’s stock valued at $144,000 after buying an additional 103 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its position in shares of Incyte Corporation by 4.2% in the second quarter. Candriam Luxembourg S.C.A. now owns 356,744 shares of the biopharmaceutical company’s stock valued at $44,920,000 after buying an additional 14,388 shares during the last quarter. Sei Investments Co. boosted its position in shares of Incyte Corporation by 60.6% in the second quarter. Sei Investments Co. now owns 43,976 shares of the biopharmaceutical company’s stock valued at $5,537,000 after buying an additional 16,589 shares during the last quarter. IPG Investment Advisors LLC acquired a new position in shares of Incyte Corporation during the second quarter valued at approximately $211,000. Finally, Braun Stacey Associates Inc. boosted its position in shares of Incyte Corporation by 9.1% in the second quarter. Braun Stacey Associates Inc. now owns 156,530 shares of the biopharmaceutical company’s stock valued at $19,709,000 after buying an additional 13,055 shares during the last quarter. Institutional investors and hedge funds own 91.73% of the company’s stock.
Incyte Corporation (INCY) opened at 128.70 on Monday. The firm’s market capitalization is $26.47 billion. The company has a 50 day moving average of $130.23 and a 200 day moving average of $129.04. Incyte Corporation has a 1-year low of $75.52 and a 1-year high of $153.15.
Incyte Corporation (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.01. Incyte Corporation had a negative net margin of 11.77% and a negative return on equity of 21.57%. The firm had revenue of $326.40 million during the quarter, compared to the consensus estimate of $318.45 million. During the same quarter in the prior year, the firm posted $0.18 earnings per share. The company’s revenue was up 32.5% on a year-over-year basis. On average, equities research analysts anticipate that Incyte Corporation will post ($0.77) earnings per share for the current year.
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Several research analysts recently commented on the stock. BidaskClub cut shares of Incyte Corporation from a “buy” rating to a “hold” rating in a report on Friday. Barclays PLC restated an “overweight” rating and set a $165.00 target price (down previously from $180.00) on shares of Incyte Corporation in a report on Wednesday, August 2nd. J P Morgan Chase & Co set a $149.00 target price on shares of Incyte Corporation and gave the stock a “buy” rating in a report on Tuesday, August 1st. Jefferies Group LLC restated a “buy” rating and set a $148.00 target price on shares of Incyte Corporation in a report on Thursday, July 27th. Finally, BMO Capital Markets restated a “buy” rating and set a $172.00 target price on shares of Incyte Corporation in a report on Friday, July 21st. Seven investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $140.39.
In related news, EVP Eric H. Siegel sold 1,820 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $132.92, for a total value of $241,914.40. Following the sale, the executive vice president now directly owns 23,553 shares in the company, valued at approximately $3,130,664.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jean Jacques Bienaime acquired 500 shares of the stock in a transaction that occurred on Wednesday, May 31st. The stock was purchased at an average price of $131.80 per share, for a total transaction of $65,900.00. Following the completion of the purchase, the director now directly owns 4,677 shares in the company, valued at approximately $616,428.60. The disclosure for this purchase can be found here. Insiders sold a total of 45,183 shares of company stock worth $5,601,196 over the last 90 days. 17.70% of the stock is currently owned by company insiders.
Incyte Corporation Company 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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