Incyte Corporation (INCY) Position Reduced by DekaBank Deutsche Girozentrale
DekaBank Deutsche Girozentrale reduced its position in shares of Incyte Corporation (NASDAQ:INCY) by 6.0% during the second quarter, Holdings Channel reports. The firm owned 115,909 shares of the biopharmaceutical company’s stock after selling 7,428 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Incyte Corporation were worth $14,978,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP raised its position 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 raised its position 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 raised its position 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 purchased a new position in Incyte Corporation during the first quarter worth approximately $789,000. Finally, Driehaus Capital Management LLC raised its position 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.
Incyte Corporation (NASDAQ INCY) opened at 124.10 on Friday. The firm’s market cap is $25.53 billion. Incyte Corporation has a one year low of $75.52 and a one year high of $153.15. The company’s 50-day moving average is $130.96 and its 200 day moving average is $129.40.
Incyte Corporation (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing the 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 company 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 earned $0.18 EPS. The business’s revenue was up 32.5% compared to the same quarter last year. Equities analysts anticipate that Incyte Corporation will post ($0.89) earnings per share for the current year.
INCY has been the topic of a number of recent analyst reports. Jefferies Group LLC restated a “buy” rating and issued a $148.00 price target (down from $165.00) on shares of Incyte Corporation in a research report on Monday, April 17th. Morgan Stanley reaffirmed an “overweight” rating and issued a $142.00 target price on shares of Incyte Corporation in a research note on Friday, May 19th. Barclays PLC dropped their target price on shares of Incyte Corporation from $185.00 to $180.00 and set an “overweight” rating for the company in a research note 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 research note on Friday, May 5th. Finally, Zacks Investment Research raised shares of Incyte Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, May 23rd. Seven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $140.39.
In other Incyte Corporation news, Director Jean Jacques Bienaime purchased 500 shares of Incyte Corporation stock in a transaction that occurred on Monday, May 15th. The stock was acquired at an average price of $115.00 per share, with a total value of $57,500.00. Following the transaction, the director now owns 4,177 shares in the company, valued at approximately $480,355. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Steven H. Stein sold 9,883 shares of Incyte Corporation stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $125.00, for a total transaction of $1,235,375.00. Following the completion of the sale, the executive vice president now directly owns 18,518 shares of the company’s stock, valued at approximately $2,314,750. The disclosure for this sale can be found here. In the last three months, insiders 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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