Bp Plc Has $2,644,000 Stake in Incyte Corporation (NASDAQ:INCY)
Bp Plc maintained its position in shares of Incyte Corporation (NASDAQ:INCY) during the second quarter, Holdings Channel reports. The fund owned 21,000 shares of the biopharmaceutical company’s stock at the end of the second quarter. Bp Plc’s holdings in Incyte Corporation were worth $2,644,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of INCY. State Street Corp raised its stake in Incyte Corporation by 110.7% in the first quarter. State Street Corp now owns 7,581,684 shares of the biopharmaceutical company’s stock valued at $1,013,437,000 after buying an additional 3,983,207 shares during the period. Vanguard Group Inc. raised its stake in Incyte Corporation by 22.7% in the first quarter. Vanguard Group Inc. now owns 15,415,857 shares of the biopharmaceutical company’s stock valued at $2,060,638,000 after buying an additional 2,847,907 shares during the period. Victory Capital Management Inc. bought a new stake in Incyte Corporation during the first quarter valued at about $85,751,000. Geode Capital Management LLC raised its stake in Incyte Corporation by 42.0% in the first quarter. Geode Capital Management LLC now owns 1,780,064 shares of the biopharmaceutical company’s stock valued at $237,618,000 after buying an additional 526,163 shares during the period. Finally, Morgan Stanley raised its stake in Incyte Corporation by 117.6% in the first quarter. Morgan Stanley now owns 776,654 shares of the biopharmaceutical company’s stock valued at $103,815,000 after buying an additional 419,732 shares during the period. 91.73% of the stock is currently owned by hedge funds and other institutional investors.
Incyte Corporation (NASDAQ INCY) opened at 122.12 on Friday. The firm has a 50-day moving average price of $131.29 and a 200 day moving average price of $129.35. The company’s market capitalization is $25.12 billion. Incyte Corporation has a 52-week low of $75.52 and a 52-week high of $153.15.
Incyte Corporation (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by $0.01. Incyte Corporation had a negative return on equity of 21.57% and a negative net margin of 11.77%. The firm had revenue of $326.40 million during the quarter, compared to analysts’ expectations of $318.45 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. Incyte Corporation’s revenue for the quarter was up 32.5% compared to the same quarter last year. On average, analysts predict that Incyte Corporation will post ($0.89) earnings per share for the current fiscal year.
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Several analysts have recently issued reports on INCY shares. Jefferies Group LLC reissued a “buy” rating and set a $148.00 target price (down from $165.00) on shares of Incyte Corporation in a report on Monday, April 17th. Morgan Stanley reissued an “overweight” rating and set a $142.00 target price on shares of Incyte Corporation in a report on Friday, May 19th. Barclays PLC reduced their target price on Incyte Corporation from $185.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, April 19th. BMO Capital Markets increased their target price on Incyte Corporation from $144.00 to $146.00 and gave the stock an “outperform” rating in a report on Friday, May 5th. Finally, Zacks Investment Research raised Incyte Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 23rd. Seven investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $140.39.
In other news, EVP Steven H. Stein sold 9,883 shares of the company’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $125.00, for a total value of $1,235,375.00. Following the completion of the transaction, the executive vice president now directly owns 18,518 shares in the company, valued at approximately $2,314,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul Trower sold 3,000 shares of the company’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $132.50, for a total value of $397,500.00. Following the completion of the transaction, the insider now owns 13,950 shares of the company’s stock, valued at $1,848,375. The disclosure for this sale can be found here. Insiders sold a total of 48,183 shares of company stock valued at $5,976,946 over the last quarter. Company insiders own 17.70% of the company’s stock.
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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