Incyte Corporation (INCY) Holdings Decreased by Schroder Investment Management Group
Schroder Investment Management Group lessened its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 44.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,508 shares of the biopharmaceutical company’s stock after selling 6,124 shares during the quarter. Schroder Investment Management Group’s holdings in Incyte Corporation were worth $967,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. State Street Corp raised its position in shares of Incyte Corporation by 110.7% in the 1st quarter. State Street Corp now owns 7,581,684 shares of the biopharmaceutical company’s stock worth $1,013,437,000 after buying an additional 3,983,207 shares during the period. Vanguard Group Inc. raised its position in shares of Incyte Corporation by 22.7% in the 1st quarter. Vanguard Group Inc. now owns 15,415,857 shares of the biopharmaceutical company’s stock worth $2,060,638,000 after buying an additional 2,847,907 shares during the period. Victory Capital Management Inc. purchased a new position in shares of Incyte Corporation in the 1st quarter worth $85,751,000. Geode Capital Management LLC raised its position in shares of Incyte Corporation by 42.0% in the 1st quarter. Geode Capital Management LLC now owns 1,780,064 shares of the biopharmaceutical company’s stock worth $237,618,000 after buying an additional 526,163 shares during the period. Finally, Jennison Associates LLC raised its position in shares of Incyte Corporation by 64.1% in the 2nd quarter. Jennison Associates LLC now owns 1,313,982 shares of the biopharmaceutical company’s stock worth $165,443,000 after buying an additional 513,423 shares during the period. 88.91% of the stock is currently owned by institutional investors.
Shares of Incyte Corporation (NASDAQ:INCY) opened at 110.85 on Monday. Incyte Corporation has a 52 week low of $83.01 and a 52 week high of $153.15. The firm’s market capitalization is $22.80 billion. The stock’s 50 day moving average price is $126.44 and its 200 day moving average price is $129.92.
Incyte Corporation (NASDAQ:INCY) last released its earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.01). The firm had revenue of $326.40 million for the quarter, compared to analyst estimates of $318.45 million. Incyte Corporation had a negative return on equity of 21.57% and a negative net margin of 11.77%. The firm’s revenue was up 32.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.18 EPS. On average, analysts predict that Incyte Corporation will post ($0.82) EPS for the current fiscal year.
INCY has been the topic of several research reports. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $135.00 target price (up from $125.00) on shares of Incyte Corporation in a research report on Wednesday, May 31st. CIBC increased their target price on Incyte Corporation from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 31st. ValuEngine raised Incyte Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Cowen and Company reaffirmed a “buy” rating on shares of Incyte Corporation in a research report on Monday, June 5th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $166.00 target price (up from $155.00) on shares of Incyte Corporation in a research report on Monday, June 5th. Eight equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Incyte Corporation has a consensus rating of “Buy” and an average target price of $142.16.
In other news, EVP Paula J. Swain sold 20,000 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $140.00, for a total transaction of $2,800,000.00. Following the transaction, the executive vice president now owns 55,067 shares in the company, valued at approximately $7,709,380. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, President Herve Hoppenot sold 70,502 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $119.45, for a total transaction of $8,421,463.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 114,871 shares of company stock valued at $14,393,073. Company insiders own 17.70% of the company’s stock.
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About Incyte Corporation
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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