National Planning Corp Raises Stake in Incyte Corporation (NASDAQ:INCY)
National Planning Corp raised its position in Incyte Corporation (NASDAQ:INCY) by 7.5% during the second quarter, Holdings Channel reports. The firm owned 8,628 shares of the biopharmaceutical company’s stock after buying an additional 602 shares during the period. National Planning Corp’s holdings in Incyte Corporation were worth $1,086,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of INCY. Quantbot Technologies LP increased its stake in Incyte Corporation by 30,032.7% in the first quarter. Quantbot Technologies LP now owns 14,765 shares of the biopharmaceutical company’s stock worth $1,973,000 after buying an additional 14,716 shares during the period. Legal & General Group Plc increased its stake in Incyte Corporation by 11.5% in the first quarter. Legal & General Group Plc now owns 738,591 shares of the biopharmaceutical company’s stock worth $98,727,000 after buying an additional 76,447 shares during the period. Xact Kapitalforvaltning AB increased its stake in Incyte Corporation by 2.1% in the second quarter. Xact Kapitalforvaltning AB now owns 27,196 shares of the biopharmaceutical company’s stock worth $3,424,000 after buying an additional 556 shares during the period. Clough Capital Partners L P acquired a new stake in Incyte Corporation during the first quarter worth $789,000. Finally, Driehaus Capital Management LLC increased its stake in Incyte Corporation by 7.5% in the first quarter. Driehaus Capital Management LLC now owns 25,289 shares of the biopharmaceutical company’s stock worth $3,380,000 after buying an additional 1,765 shares during the period. Hedge funds and other institutional investors own 91.73% of the company’s stock.
Shares of Incyte Corporation (NASDAQ INCY) opened at 122.12 on Friday. The stock’s market capitalization is $25.12 billion. The firm has a 50-day moving average of $131.29 and a 200 day moving average of $129.35. Incyte Corporation has a 52-week low of $75.52 and a 52-week high of $153.15.
Incyte Corporation (NASDAQ:INCY) last announced its earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The company had revenue of $326.40 million for the quarter, compared to analysts’ expectations of $318.45 million. Incyte Corporation had a negative return on equity of 21.57% and a negative net margin of 11.77%. The company’s quarterly revenue was up 32.5% compared to the same quarter last year. During the same period last year, the business earned $0.18 EPS. Equities research analysts forecast that Incyte Corporation will post ($0.89) EPS for the current fiscal year.
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INCY has been the topic of a number of research reports. Jefferies Group LLC restated a “buy” rating and issued a $148.00 target price (down from $165.00) on shares of Incyte Corporation in a report on Monday, April 17th. Morgan Stanley restated an “overweight” rating and issued a $142.00 target price on shares of Incyte Corporation in a report on Friday, May 19th. Barclays PLC reduced their target price on shares of 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 boosted their target price on shares of 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 upgraded shares of Incyte Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 23rd. Seven equities research 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. Incyte Corporation currently has a consensus rating of “Buy” and an average target price of $140.39.
In other Incyte Corporation news, CFO David W. Gryska sold 16,756 shares of the stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $116.60, for a total transaction of $1,953,749.60. Following the completion of the transaction, the chief financial officer now owns 35,771 shares of the company’s stock, valued at $4,170,898.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jean Jacques Bienaime bought 500 shares of the stock in a transaction on Monday, May 15th. The shares were bought at an average cost of $115.00 per share, with a total value of $57,500.00. Following the purchase, the director now owns 4,177 shares of the company’s stock, valued at $480,355. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 48,183 shares of company stock valued at $5,976,946. 17.70% of the stock is currently owned by 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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