Cubist Systematic Strategies LLC Decreases Position in Incyte Corporation (INCY)

Cubist Systematic Strategies LLC reduced its stake in shares of Incyte Corporation (NASDAQ:INCY) by 84.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,775 shares of the biopharmaceutical company’s stock after selling 26,644 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Incyte Corporation were worth $601,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Wetherby Asset Management Inc. boosted its holdings in shares of Incyte Corporation by 1.4% during the second quarter. Wetherby Asset Management Inc. now owns 1,672 shares of the biopharmaceutical company’s stock worth $211,000 after purchasing an additional 23 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Incyte Corporation by 0.8% during the second quarter. Nordea Investment Management AB now owns 8,179 shares of the biopharmaceutical company’s stock worth $1,030,000 after purchasing an additional 67 shares during the period. Grandfield & Dodd LLC boosted its holdings in shares of Incyte Corporation by 1.2% during the second quarter. Grandfield & Dodd LLC now owns 7,383 shares of the biopharmaceutical company’s stock worth $930,000 after purchasing an additional 85 shares during the period. IFP Advisors Inc boosted its holdings in shares of Incyte Corporation by 9.9% during the second quarter. IFP Advisors Inc now owns 1,146 shares of the biopharmaceutical company’s stock worth $144,000 after purchasing an additional 103 shares during the period. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Incyte Corporation by 5.4% during the second quarter. State of Alaska Department of Revenue now owns 2,292 shares of the biopharmaceutical company’s stock worth $288,000 after purchasing an additional 117 shares during the period. Institutional investors and hedge funds own 88.88% of the company’s stock.

Shares of Incyte Corporation (INCY) opened at 114.27 on Friday. The company’s market capitalization is $23.51 billion. Incyte Corporation has a one year low of $83.01 and a one year high of $153.15. The firm’s 50-day moving average price is $118.73 and its 200 day moving average price is $125.62.

Incyte Corporation (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing the Zacks’ 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 firm had revenue of $326.40 million for the quarter, compared to analyst estimates of $318.45 million. During the same period in the previous year, the business posted $0.18 earnings per share. The business’s revenue for the quarter was up 32.5% compared to the same quarter last year. Analysts anticipate that Incyte Corporation will post ($0.81) earnings per share for the current year.

In other news, President Herve Hoppenot sold 70,502 shares of Incyte Corporation 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Barry P. Flannelly sold 714 shares of Incyte Corporation stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $124.25, for a total value of $88,714.50. Following the completion of the transaction, the executive vice president now directly owns 15,496 shares in the company, valued at $1,925,378. The disclosure for this sale can be found here. Insiders have sold 102,967 shares of company stock worth $12,857,016 over the last three months. Insiders own 17.70% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Cubist Systematic Strategies LLC Decreases Position in Incyte Corporation (INCY)” was first published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece of content on another site, it was copied illegally and reposted in violation of US and international copyright and trademark law. The original version of this piece of content can be viewed at https://ledgergazette.com/2017/10/20/cubist-systematic-strategies-llc-decreases-position-in-incyte-corporation-incy.html.

INCY has been the subject of several research reports. Raymond James Financial, Inc. upgraded 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. J P Morgan Chase & Co reiterated a “buy” rating and issued a $149.00 target price on shares of Incyte Corporation in a research note on Thursday, August 31st. Oppenheimer Holdings, Inc. reiterated a “hold” rating and issued a $135.00 target price on shares of Incyte C

Several other hedge funds also recently bought and sold shares of the stock. Wetherby Asset Management Inc. boosted its holdings in shares of Incyte Corporation by 1.4% during the second quarter. Wetherby Asset Management Inc. now owns 1,672 shares of the biopharmaceutical company’s stock worth $211,000 after purchasing an additional 23 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Incyte Corporation by 0.8% during the second quarter. Nordea Investment Management AB now owns 8,179 shares of the biopharmaceutical company’s stock worth $1,030,000 after purchasing an additional 67 shares during the period. Grandfield & Dodd LLC boosted its holdings in shares of Incyte Corporation by 1.2% during the second quarter. Grandfield & Dodd LLC now owns 7,383 shares of the biopharmaceutical company’s stock worth $930,000 after purchasing an additional 85 shares during the period. IFP Advisors Inc boosted its holdings in shares of Incyte Corporation by 9.9% during the second quarter. IFP Advisors Inc now owns 1,146 shares of the biopharmaceutical company’s stock worth $144,000 after purchasing an additional 103 shares during the period. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Incyte Corporation by 5.4% during the second quarter. State of Alaska Department of Revenue now owns 2,292 shares of the biopharmaceutical company’s stock worth $288,000 after purchasing an additional 117 shares during the period. Institutional investors and hedge funds own 88.88% of the company’s stock.

Shares of Incyte Corporation (INCY) opened at 114.27 on Friday. The company’s market capitalization is $23.51 billion. Incyte Corporation has a one year low of $83.01 and a one year high of $153.15. The firm’s 50-day moving average price is $118.73 and its 200 day moving average price is $125.62.

Incyte Corporation (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing the Zacks’ 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 firm had revenue of $326.40 million for the quarter, compared to analyst estimates of $318.45 million. During the same period in the previous year, the business posted $0.18 earnings per share. The business’s revenue for the quarter was up 32.5% compared to the same quarter last year. Analysts anticipate that Incyte Corporation will post ($0.81) earnings per share for the current year.

In other news, President Herve Hoppenot sold 70,502 shares of Incyte Corporation 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Barry P. Flannelly sold 714 shares of Incyte Corporation stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $124.25, for a total value of $88,714.50. Following the completion of the transaction, the executive vice president now directly owns 15,496 shares in the company, valued at $1,925,378. The disclosure for this sale can be found here. Insiders have sold 102,967 shares of company stock worth $12,857,016 over the last three months. Insiders own 17.70% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Cubist Systematic Strategies LLC Decreases Position in Incyte Corporation (INCY)” was first published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece of content on another site, it was copied illegally and reposted in violation of US and international copyright and trademark law. The original version of this piece of content can be viewed at https://ledgergazette.com/2017/10/20/cubist-systematic-strategies-llc-decreases-position-in-incyte-corporation-incy.html.

INCY has been the subject of several research reports. Raymond James Financial, Inc. upgraded 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. J P Morgan Chase & Co reiterated a “buy” rating and issued a $149.00 target price on shares of Incyte Corporation in a research note on Thursday, August 31st. Oppenheimer Holdings, Inc. reiterated a “hold” rating and issued a $135.00 target price on shares of Incyte Corporation in a research note on Thursday, August 31st. BMO Capital Markets reiterated an “outperform” rating and issued a $172.00 target price on shares of Incyte Corporation in a research note on Monday, August 28th. Finally, Barclays PLC lifted their target price on shares of Incyte Corporation from $135.00 to $185.00 and gave the company an “overweight” rating in a research note on Tuesday, July 4th. Seven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $144.84.

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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