Incyte Co. (INCY) Shares Bought by Baird Financial Group Inc.

Baird Financial Group Inc. raised its position in shares of Incyte Co. (NASDAQ:INCY) by 93.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,759 shares of the biopharmaceutical company’s stock after buying an additional 27,886 shares during the period. Baird Financial Group Inc.’s holdings in Incyte were worth $3,870,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund boosted its position in shares of Incyte by 4.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 19,192 shares of the biopharmaceutical company’s stock worth $1,286,000 after buying an additional 850 shares during the period. Partners Capital Investment Group LLP boosted its position in shares of Incyte by 26.1% during the second quarter. Partners Capital Investment Group LLP now owns 25,312 shares of the biopharmaceutical company’s stock worth $1,696,000 after buying an additional 5,245 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Incyte by 68.6% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,900 shares of the biopharmaceutical company’s stock valued at $395,000 after acquiring an additional 2,400 shares in the last quarter. BlueMountain Capital Management LLC raised its stake in shares of Incyte by 6,362.9% in the second quarter. BlueMountain Capital Management LLC now owns 68,959 shares of the biopharmaceutical company’s stock valued at $4,620,000 after acquiring an additional 67,892 shares in the last quarter. Finally, International Biotechnology Trust PLC raised its stake in shares of Incyte by 72.6% in the second quarter. International Biotechnology Trust PLC now owns 125,975 shares of the biopharmaceutical company’s stock valued at $8,442,000 after acquiring an additional 53,000 shares in the last quarter. Institutional investors and hedge funds own 91.52% of the company’s stock.

In other Incyte news, EVP Vijay K. Iyengar sold 606 shares of the firm’s stock in a transaction on Monday, July 9th. The stock was sold at an average price of $71.34, for a total value of $43,232.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Paula J. Swain sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $73.21, for a total value of $732,100.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,606 shares of company stock worth $1,475,332. 17.20% of the stock is owned by insiders.

Incyte stock opened at $67.48 on Friday. Incyte Co. has a 1-year low of $60.22 and a 1-year high of $124.71. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.32 and a current ratio of 4.34. The firm has a market capitalization of $14.20 billion, a price-to-earnings ratio of 105.44 and a beta of 1.14.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, July 31st. The biopharmaceutical company reported $0.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.22. Incyte had a positive return on equity of 1.74% and a negative net margin of 5.92%. The company had revenue of $521.50 million for the quarter, compared to analysts’ expectations of $510.70 million. During the same period last year, the firm earned ($0.06) earnings per share. Incyte’s quarterly revenue was up 59.8% on a year-over-year basis. analysts anticipate that Incyte Co. will post 0.43 earnings per share for the current fiscal year.

Several analysts have recently issued reports on the company. BidaskClub cut Incyte from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Cowen reiterated a “buy” rating on shares of Incyte in a research note on Tuesday, September 4th. Argus set a $83.00 price objective on Incyte and gave the company a “buy” rating in a research note on Thursday, August 30th. Royal Bank of Canada upgraded Incyte from a “sector perform” rating to an “outperform” rating and set a $74.00 price objective on the stock in a research note on Wednesday, August 15th. They noted that the move was a valuation call. Finally, JMP Securities cut Incyte from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $100.51.

Incyte Company Profile

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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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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