American Century Companies Inc. Has $121.75 Million Position in Incyte Corporation (INCY)
American Century Companies Inc. decreased its position in shares of Incyte Corporation (NASDAQ:INCY) by 3.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,042,879 shares of the biopharmaceutical company’s stock after selling 34,630 shares during the period. American Century Companies Inc. owned about 0.51% of Incyte Corporation worth $121,746,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Incyte Corporation by 11.1% during the 2nd quarter. Vanguard Group Inc. now owns 17,125,542 shares of the biopharmaceutical company’s stock worth $2,156,276,000 after acquiring an additional 1,709,685 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Incyte Corporation by 4,570.1% during the 2nd quarter. Janus Henderson Group PLC now owns 1,045,363 shares of the biopharmaceutical company’s stock worth $131,622,000 after acquiring an additional 1,022,979 shares in the last quarter. Old Mutual Global Investors UK Ltd. grew its holdings in Incyte Corporation by 374.4% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 930,319 shares of the biopharmaceutical company’s stock worth $108,605,000 after acquiring an additional 734,235 shares in the last quarter. Jennison Associates LLC grew its holdings in Incyte Corporation by 64.1% during the 2nd quarter. Jennison Associates LLC now owns 1,313,982 shares of the biopharmaceutical company’s stock worth $165,443,000 after acquiring an additional 513,423 shares in the last quarter. Finally, Matrix Capital Management Company LP grew its holdings in Incyte Corporation by 28.3% during the 2nd quarter. Matrix Capital Management Company LP now owns 1,796,716 shares of the biopharmaceutical company’s stock worth $226,225,000 after acquiring an additional 396,716 shares in the last quarter. 88.57% of the stock is currently owned by hedge funds and other institutional investors.
In related news, President Herve Hoppenot sold 70,502 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $119.45, for a total value of $8,421,463.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider David W. Gryska sold 3,915 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $105.63, for a total transaction of $413,541.45. The disclosure for this sale can be found here. Insiders sold a total of 102,062 shares of company stock worth $12,652,893 over the last quarter. Insiders own 17.70% of the company’s stock.
Shares of Incyte Corporation (NASDAQ:INCY) opened at $102.99 on Friday. Incyte Corporation has a 52-week low of $98.49 and a 52-week high of $153.15. The company has a current ratio of 4.82, a quick ratio of 4.81 and a debt-to-equity ratio of 0.01.
Incyte Corporation (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.11. Incyte Corporation had a negative net margin of 10.90% and a negative return on equity of 12.91%. The company had revenue of $381.50 million for the quarter, compared to the consensus estimate of $360.34 million. During the same period in the previous year, the firm earned $0.19 EPS. Incyte Corporation’s revenue was up 41.6% on a year-over-year basis. equities research analysts forecast that Incyte Corporation will post -1.3 earnings per share for the current year.
Several research analysts have weighed in on INCY shares. Oppenheimer Holdings, Inc. reissued a “hold” rating and set a $135.00 price objective on shares of Incyte Corporation in a report on Thursday, August 31st. BMO Capital Markets decreased their price objective on shares of Incyte Corporation from $163.00 to $162.00 and set an “outperform” rating for the company in a report on Thursday, October 26th. Barclays PLC reissued an “overweight” rating and set a $165.00 price objective (down from $180.00) on shares of Incyte Corporation in a report on Wednesday, August 2nd. Royal Bank Of Canada initiated coverage on shares of Incyte Corporation in a report on Thursday, September 14th. They issued a “sector perform” rating and a $136.00 price target for the company. Finally, Raymond James Financial, Inc. raised shares of Incyte Corporation from a “market perform” rating to an “outperform” rating and set a $159.00 price target for the company in a report on Monday, September 11th. Seven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Incyte Corporation has a consensus rating of “Buy” and an average price target of $144.98.
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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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