HBK Investments L P lessened its stake in Incyte Co. (NASDAQ:INCY) by 56.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 74,839 shares of the biopharmaceutical company’s stock after selling 98,658 shares during the quarter. HBK Investments L P’s holdings in Incyte were worth $7,088,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC acquired a new position in shares of Incyte during the 3rd quarter worth $125,065,000. Renaissance Technologies LLC acquired a new position in shares of Incyte during the 4th quarter worth $71,639,000. HealthCor Management L.P. increased its stake in shares of Incyte by 125.5% during the 4th quarter. HealthCor Management L.P. now owns 1,350,000 shares of the biopharmaceutical company’s stock worth $127,859,000 after purchasing an additional 751,450 shares during the last quarter. Sands Capital Management LLC increased its stake in shares of Incyte by 8.2% during the 4th quarter. Sands Capital Management LLC now owns 8,191,287 shares of the biopharmaceutical company’s stock worth $775,797,000 after purchasing an additional 621,323 shares during the last quarter. Finally, Two Sigma Investments LP increased its stake in shares of Incyte by 143.1% during the 4th quarter. Two Sigma Investments LP now owns 729,107 shares of the biopharmaceutical company’s stock worth $69,054,000 after purchasing an additional 429,181 shares during the last quarter. Hedge funds and other institutional investors own 93.58% of the company’s stock.
INCY has been the topic of several analyst reports. BidaskClub lowered shares of Incyte from a “sell” rating to a “strong sell” rating in a research note on Tuesday, January 16th. Credit Suisse Group set a $145.00 price target on shares of Incyte and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Cowen restated a “buy” rating on shares of Incyte in a research note on Tuesday, December 5th. Royal Bank of Canada upgraded shares of Incyte from a “sector perform” rating to an “outperform” rating and set a $136.00 price target on the stock in a research note on Tuesday, January 2nd. Finally, Raymond James Financial set a $159.00 price target on shares of Incyte and gave the stock a “buy” rating in a research note on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $142.83.
Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Thursday, February 15th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.54. Incyte had a negative net margin of 20.38% and a negative return on equity of 11.85%. The firm had revenue of $444.20 million during the quarter, compared to the consensus estimate of $435.23 million. During the same period in the prior year, the firm earned $0.05 EPS. The business’s revenue was up 36.0% on a year-over-year basis. equities research analysts predict that Incyte Co. will post -0.28 earnings per share for the current year.
In other news, insider David W. Gryska sold 6,760 shares of the stock in a transaction on Friday, January 5th. The shares were sold at an average price of $98.87, for a total value of $668,361.20. Following the completion of the transaction, the insider now owns 20,752 shares in the company, valued at approximately $2,051,750.24. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider David W. Gryska sold 1,952 shares of the stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $85.56, for a total transaction of $167,013.12. Following the completion of the transaction, the insider now owns 12,922 shares of the company’s stock, valued at approximately $1,105,606.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,670 shares of company stock valued at $1,489,181. Insiders own 17.70% of the company’s stock.
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 Co. (NASDAQ:INCY).
Receive News & Ratings for Incyte Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte and related companies with MarketBeat.com's FREE daily email newsletter.