C WorldWide Group Holding A S trimmed its position in shares of Incyte Corporation (NASDAQ:INCY) by 38.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 75,941 shares of the biopharmaceutical company’s stock after selling 47,783 shares during the quarter. C WorldWide Group Holding A S’s holdings in Incyte Corporation were worth $8,865,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the business. Jennison Associates LLC lifted its position in shares of Incyte Corporation by 24.3% during the third quarter. Jennison Associates LLC now owns 1,633,173 shares of the biopharmaceutical company’s stock valued at $190,657,000 after buying an additional 319,191 shares during the last quarter. Candriam Luxembourg S.C.A. increased its holdings in shares of Incyte Corporation by 10.7% during the third quarter. Candriam Luxembourg S.C.A. now owns 394,758 shares of the biopharmaceutical company’s stock valued at $46,084,000 after acquiring an additional 38,014 shares in the last quarter. Swiss National Bank increased its holdings in shares of Incyte Corporation by 3.0% during the third quarter. Swiss National Bank now owns 641,700 shares of the biopharmaceutical company’s stock valued at $74,912,000 after acquiring an additional 18,700 shares in the last quarter. Scout Investments Inc. increased its holdings in shares of Incyte Corporation by 13.3% during the third quarter. Scout Investments Inc. now owns 92,011 shares of the biopharmaceutical company’s stock valued at $10,741,000 after acquiring an additional 10,792 shares in the last quarter. Finally, Keybank National Association OH increased its holdings in shares of Incyte Corporation by 8.3% during the third quarter. Keybank National Association OH now owns 8,384 shares of the biopharmaceutical company’s stock valued at $979,000 after acquiring an additional 644 shares in the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.
INCY has been the topic of several recent analyst reports. Oppenheimer Holdings, Inc. restated 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 cut their price objective on shares of Incyte Corporation from $163.00 to $162.00 and set an “outperform” rating on the stock in a report on Thursday, October 26th. Barclays PLC restated an “overweight” rating and set a $165.00 price objective (down previously 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 set a “sector perform” rating and a $136.00 price objective on the stock. Finally, Raymond James Financial, Inc. upgraded shares of Incyte Corporation from a “market perform” rating to an “outperform” rating and set a $159.00 price objective on the stock in a report on Monday, September 11th. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Incyte Corporation currently has an average rating of “Buy” and a consensus price target of $144.98.
In other news, EVP Steven H. Stein sold 2,111 shares of the stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $125.00, for a total transaction of $263,875.00. Following the transaction, the executive vice president now owns 18,687 shares in the company, valued at approximately $2,335,875. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider David W. Gryska sold 3,915 shares of the stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $105.63, for a total value of $413,541.45. The disclosure for this sale can be found here. Insiders have sold a total of 102,062 shares of company stock worth $12,652,893 in the last quarter. Insiders own 17.70% of the company’s stock.
Shares of Incyte Corporation (INCY) traded up $1.77 during trading hours on Friday, hitting $104.76. The stock had a trading volume of 2,972,500 shares, compared to its average volume of 1,844,233. Incyte Corporation has a 52-week low of $98.49 and a 52-week high of $153.15. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.81 and a current ratio of 4.82.
Incyte Corporation (NASDAQ:INCY) last announced its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.11. Incyte Corporation had a negative return on equity of 12.91% and a negative net margin of 10.90%. The firm had revenue of $381.50 million for the quarter, compared to analyst estimates of $360.34 million. During the same quarter last year, the firm posted $0.19 EPS. The business’s revenue was up 41.6% on a year-over-year basis. sell-side analysts expect that Incyte Corporation will post -1.3 EPS for the current fiscal year.
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).
Want to see what other hedge funds are holding INCY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Incyte Corporation (NASDAQ:INCY).
Receive News & Ratings for Incyte Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte Corporation and related companies with MarketBeat.com's FREE daily email newsletter.