Capital Guardian Trust Co. lowered its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,031,198 shares of the biopharmaceutical company’s stock after selling 7,317 shares during the quarter. Incyte makes up 2.1% of Capital Guardian Trust Co.’s portfolio, making the stock its 6th biggest holding. Capital Guardian Trust Co. owned approximately 0.49% of Incyte worth $120,382,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in INCY. Vanguard Group Inc. grew its position in shares of Incyte by 11.1% during the second quarter. Vanguard Group Inc. now owns 17,125,542 shares of the biopharmaceutical company’s stock worth $2,156,276,000 after purchasing an additional 1,709,685 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of Incyte during the third quarter worth about $125,065,000. Janus Henderson Group PLC grew its position in shares of Incyte by 4,570.1% during the second quarter. Janus Henderson Group PLC now owns 1,045,363 shares of the biopharmaceutical company’s stock worth $131,622,000 after purchasing an additional 1,022,979 shares in the last quarter. Old Mutual Global Investors UK Ltd. grew its position in shares of Incyte by 374.4% during the third quarter. Old Mutual Global Investors UK Ltd. now owns 930,319 shares of the biopharmaceutical company’s stock worth $108,605,000 after purchasing an additional 734,235 shares in the last quarter. Finally, Jennison Associates LLC grew its position in shares of Incyte by 64.1% during the second quarter. Jennison Associates LLC now owns 1,313,982 shares of the biopharmaceutical company’s stock worth $165,443,000 after purchasing an additional 513,423 shares in the last quarter. Hedge funds and other institutional investors own 90.86% of the company’s stock.
In related news, EVP Barry P. Flannelly sold 714 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $124.25, for a total transaction of $88,714.50. Following the completion of the sale, the executive vice president now directly owns 15,496 shares of the company’s stock, valued at approximately $1,925,378. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Herve Hoppenot sold 70,502 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $119.45, for a total value of $8,421,463.90. The disclosure for this sale can be found here. Insiders sold a total of 104,334 shares of company stock valued at $11,992,011 over the last ninety days. Corporate insiders own 17.70% of the company’s stock.
Shares of Incyte Corporation (INCY) opened at $96.58 on Friday. Incyte Corporation has a one year low of $92.91 and a one year 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 (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.11. The business had revenue of $381.50 million during the quarter, compared to analyst estimates of $360.34 million. Incyte had a negative return on equity of 12.91% and a negative net margin of 10.90%. The company’s revenue for the quarter was up 41.6% on a year-over-year basis. During the same period last year, the company earned $0.19 EPS. equities analysts anticipate that Incyte Corporation will post -1.33 EPS for the current fiscal year.
INCY has been the subject of several research analyst reports. Raymond James Financial upgraded Incyte from a “market perform” rating to an “outperform” rating and set a $159.00 target price for the company in a research report on Monday, September 11th. J P Morgan Chase & Co restated a “buy” rating and set a $149.00 price target on shares of Incyte in a report on Thursday, August 31st. Oppenheimer restated a “hold” rating and set a $135.00 price target on shares of Incyte in a report on Thursday, August 31st. BMO Capital Markets restated an “outperform” rating and set a $172.00 price target on shares of Incyte in a report on Monday, August 28th. Finally, Argus restated a “buy” rating and set a $150.00 price target on shares of Incyte in a report on Wednesday, September 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $145.65.
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Incyte 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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