Cibc World Markets Corp cut its position in Incyte Corporation (NASDAQ:INCY) by 72.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,109 shares of the biopharmaceutical company’s stock after selling 210,273 shares during the quarter. Cibc World Markets Corp’s holdings in Incyte Corporation were worth $10,212,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Incyte Corporation by 11.1% in the second quarter. Vanguard Group Inc. now owns 17,125,542 shares of the biopharmaceutical company’s stock valued at $2,156,276,000 after buying an additional 1,709,685 shares in the last quarter. State Street Corp grew its stake in shares of 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 in the last quarter. BB Biotech AG grew its stake in shares of Incyte Corporation by 0.7% in the second quarter. BB Biotech AG now owns 3,514,822 shares of the biopharmaceutical company’s stock valued at $442,551,000 after buying an additional 25,000 shares in the last quarter. FMR LLC grew its stake in shares of Incyte Corporation by 8.0% in the first quarter. FMR LLC now owns 2,980,864 shares of the biopharmaceutical company’s stock valued at $398,452,000 after buying an additional 219,923 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of 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 in the last quarter. 88.91% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Eric H. Siegel sold 1,820 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $126.20, for a total transaction of $229,684.00. Following the transaction, the executive vice president now owns 20,036 shares of the company’s stock, valued at $2,528,543.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David W. Gryska sold 599 shares of the stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $129.74, for a total transaction of $77,714.26. Following the transaction, the insider now directly owns 19,614 shares in the company, valued at approximately $2,544,720.36. The disclosure for this sale can be found here. Insiders have sold 114,871 shares of company stock worth $14,393,073 in the last ninety days. Corporate insiders own 17.70% of the company’s stock.

A number of brokerages have recently weighed in on INCY. BMO Capital Markets reaffirmed an “outperform” rating and issued a $163.00 price objective (down from $172.00) on shares of Incyte Corporation in a research note on Monday, September 11th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $148.00 price objective on shares of Incyte Corporation in a research note on Thursday, July 27th. Oppenheimer Holdings, Inc. reiterated a “hold” rating and issued a $135.00 target price on shares of Incyte Corporation in a report on Sunday, September 10th. Credit Suisse Group set a $152.00 target price on Incyte Corporation and gave the company a “buy” rating in a report on Sunday, July 16th. Finally, Evercore ISI assumed coverage on Incyte Corporation in a report on Wednesday, August 16th. They issued an “in-line” rating and a $135.00 target price for the company. Eight research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $142.16.

Shares of Incyte Corporation (NASDAQ:INCY) opened at 110.85 on Monday. The stock has a 50 day moving average price of $126.44 and a 200 day moving average price of $129.92. Incyte Corporation has a 12-month low of $83.01 and a 12-month high of $153.15. The stock’s market capitalization is $22.80 billion.

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 consensus estimate of ($0.05) by ($0.01). The business had revenue of $326.40 million for the quarter, compared to analyst estimates of $318.45 million. Incyte Corporation had a negative net margin of 11.77% and a negative return on equity of 21.57%. The firm’s revenue was up 32.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.18 earnings per share. On average, equities analysts anticipate that Incyte Corporation will post ($0.82) earnings per share for the current fiscal year.

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Incyte Corporation 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).

Institutional Ownership by Quarter for Incyte Corporation (NASDAQ:INCY)

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