Rockefeller Capital Management L.P. bought a new position in Incyte Co. (NASDAQ:INCY) during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,277 shares of the biopharmaceutical company’s stock, valued at approximately $106,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Financial Gravity Companies Inc. purchased a new position in shares of Incyte in the 4th quarter worth approximately $120,000. Advantage Investment Management LLC boosted its stake in shares of Incyte by 1,233.3% in the 4th quarter. Advantage Investment Management LLC now owns 2,000 shares of the biopharmaceutical company’s stock worth $189,000 after buying an additional 1,850 shares during the last quarter. Griffin Asset Management Inc. purchased a new position in shares of Incyte in the 4th quarter worth approximately $200,000. Mission Wealth Management LP purchased a new position in shares of Incyte in the 4th quarter worth approximately $213,000. Finally, Westover Capital Advisors LLC purchased a new position in shares of Incyte in the 4th quarter worth approximately $228,000. Hedge funds and other institutional investors own 92.21% of the company’s stock.
A number of equities analysts have recently weighed in on INCY shares. BidaskClub downgraded Incyte from a “sell” rating to a “strong sell” rating in a research note on Thursday, February 1st. Nomura restated a “buy” rating on shares of Incyte in a research note on Thursday, February 1st. Credit Suisse Group set a $145.00 price target on shares of Incyte and gave the stock a “buy” rating in a report on Wednesday, February 14th. Raymond James reaffirmed a “buy” rating on shares of Incyte in a report on Thursday, February 15th. Finally, Oppenheimer set a $110.00 price target on shares of Incyte and gave the stock a “hold” rating in a report on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $115.71.
In other Incyte news, President Herve Hoppenot bought 15,000 shares of the stock in a transaction on Wednesday, May 2nd. The shares were acquired at an average price of $60.94 per share, with a total value of $914,100.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Paula J. Swain sold 80,000 shares of the business’s stock in a transaction on Monday, April 30th. The shares were sold at an average price of $62.43, for a total transaction of $4,994,400.00. Following the sale, the executive vice president now directly owns 39,467 shares in the company, valued at approximately $2,463,924.81. The disclosure for this sale can be found here. Insiders own 17.20% of the company’s stock.
Shares of INCY stock opened at $68.43 on Friday. The company has a current ratio of 3.86, a quick ratio of 3.84 and a debt-to-equity ratio of 0.01. Incyte Co. has a 1 year low of $60.22 and a 1 year high of $140.11. The firm has a market cap of $14.51 billion, a price-to-earnings ratio of 106.92 and a beta of 0.72.
Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, May 1st. The biopharmaceutical company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.08. Incyte had a negative net margin of 10.90% and a negative return on equity of 0.74%. The business had revenue of $382.28 million for the quarter, compared to analysts’ expectations of $384.03 million. During the same quarter in the previous year, the firm posted $0.14 EPS. The business’s revenue for the quarter was down .5% compared to the same quarter last year. sell-side analysts expect that Incyte Co. will post -0.19 EPS for the current fiscal year.
Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States. It offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and ICLUSIG, a kinase inhibitor for the treatment of chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.
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