Victory Capital Management Inc. lowered its stake in shares of Incyte Corporation (NASDAQ:INCY) by 80.9% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 79,334 shares of the biopharmaceutical company’s stock after selling 336,080 shares during the period. Victory Capital Management Inc.’s holdings in Incyte Corporation were worth $9,261,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. boosted its stake in Incyte Corporation by 9.9% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 27,147 shares of the biopharmaceutical company’s stock valued at $3,418,000 after purchasing an additional 2,455 shares during the last quarter. Pinebridge Investments L.P. boosted its stake in Incyte Corporation by 122.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 74,590 shares of the biopharmaceutical company’s stock valued at $9,392,000 after purchasing an additional 40,992 shares during the last quarter. Calamos Advisors LLC boosted its stake in Incyte Corporation by 37.7% during the 2nd quarter. Calamos Advisors LLC now owns 113,132 shares of the biopharmaceutical company’s stock valued at $14,244,000 after purchasing an additional 30,990 shares during the last quarter. Inverness Counsel LLC NY acquired a new position in Incyte Corporation during the 3rd quarter valued at about $330,000. Finally, Tredje AP fonden boosted its stake in Incyte Corporation by 63.4% during the 2nd quarter. Tredje AP fonden now owns 22,446 shares of the biopharmaceutical company’s stock valued at $2,826,000 after purchasing an additional 8,706 shares during the last quarter. Institutional investors and hedge funds own 89.53% of the company’s stock.
Shares of Incyte Corporation (INCY) opened at $105.12 on Wednesday. The company has a quick ratio of 4.81, a current ratio of 4.82 and a debt-to-equity ratio of 0.01. Incyte Corporation has a 1-year low of $98.49 and a 1-year high of $153.15.
Incyte Corporation (NASDAQ:INCY) last issued 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 net margin of 10.90% and a negative return on equity of 12.91%. The business had revenue of $381.50 million for the quarter, compared to analysts’ expectations of $360.34 million. During the same quarter in the previous year, the firm posted $0.19 EPS. The business’s revenue for the quarter was up 41.6% compared to the same quarter last year. analysts expect that Incyte Corporation will post -1.3 earnings per share for the current year.
In other news, EVP Steven H. Stein sold 2,111 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $125.00, for a total transaction of $263,875.00. Following the completion of the transaction, the executive vice president now directly owns 18,687 shares in the company, valued at approximately $2,335,875. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David W. Gryska sold 3,915 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were 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 have sold a total of 102,062 shares of company stock worth $12,652,893 in the last three months. Insiders own 17.70% of the company’s stock.
A number of equities analysts have recently weighed in on INCY shares. Raymond James Financial, Inc. upgraded Incyte Corporation from a “market perform” rating to an “outperform” rating and set a $159.00 target price on the stock in a research note on Monday, September 11th. J P Morgan Chase & Co restated 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. restated 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 restated an “outperform” rating and issued a $172.00 target price on shares of Incyte Corporation in a research note on Monday, August 28th. Finally, Argus restated a “buy” rating and issued a $150.00 target price on shares of Incyte Corporation in a research note on Wednesday, September 13th. Seven investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $144.98.
Incyte Corporation Company 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).
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