Bank of New York Mellon Corp Sells 54,742 Shares of Incyte Co. (INCY)

Bank of New York Mellon Corp decreased its stake in shares of Incyte Co. (NASDAQ:INCY) by 4.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,329,645 shares of the biopharmaceutical company’s stock after selling 54,742 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.63% of Incyte worth $89,087,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of INCY. DnB Asset Management AS increased its holdings in Incyte by 5.8% during the 2nd quarter. DnB Asset Management AS now owns 20,000 shares of the biopharmaceutical company’s stock worth $1,340,000 after purchasing an additional 1,100 shares during the period. IFM Investors Pty Ltd increased its holdings in Incyte by 46.6% during the 2nd quarter. IFM Investors Pty Ltd now owns 8,027 shares of the biopharmaceutical company’s stock worth $538,000 after purchasing an additional 2,553 shares during the period. Fisher Asset Management LLC increased its holdings in Incyte by 16.7% during the 2nd quarter. Fisher Asset Management LLC now owns 7,123 shares of the biopharmaceutical company’s stock worth $477,000 after purchasing an additional 1,019 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Incyte by 33.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 31,843 shares of the biopharmaceutical company’s stock worth $2,132,000 after acquiring an additional 7,990 shares in the last quarter. Finally, Xact Kapitalforvaltning AB boosted its position in shares of Incyte by 4.4% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 32,682 shares of the biopharmaceutical company’s stock worth $2,190,000 after acquiring an additional 1,383 shares in the last quarter. Institutional investors own 92.03% of the company’s stock.

Shares of NASDAQ INCY opened at $66.03 on Friday. The stock has a market capitalization of $14.58 billion, a P/E ratio of 103.17 and a beta of 1.12. The company has a quick ratio of 4.01, a current ratio of 4.02 and a debt-to-equity ratio of 0.01. Incyte Co. has a 52-week low of $58.33 and a 52-week high of $108.25.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, October 30th. The biopharmaceutical company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02). The firm had revenue of $449.68 million during the quarter, compared to analyst estimates of $448.34 million. Incyte had a negative net margin of 6.07% and a positive return on equity of 2.23%. The firm’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period last year, the company earned $0.19 earnings per share. As a group, research analysts forecast that Incyte Co. will post 0.43 earnings per share for the current fiscal year.

INCY has been the subject of several analyst reports. Cowen reaffirmed a “buy” rating on shares of Incyte in a research report on Tuesday, July 31st. Raymond James reaffirmed a “buy” rating on shares of Incyte in a research report on Friday, July 27th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $88.00 price objective on shares of Incyte in a research report on Wednesday, August 1st. Zacks Investment Research raised Incyte from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research report on Friday, July 20th. Finally, BidaskClub raised Incyte from a “hold” rating to a “buy” rating in a research report on Monday, August 20th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $94.48.

In other Incyte news, EVP Paula J. Swain sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $70.00, for a total transaction of $700,000.00. Following the completion of the sale, the executive vice president now directly owns 42,324 shares of the company’s stock, valued at approximately $2,962,680. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jean Jacques Bienaime acquired 1,000 shares of Incyte stock in a transaction on Thursday, November 8th. The shares were bought at an average cost of $68.77 per share, with a total value of $68,770.00. Following the completion of the purchase, the director now owns 6,168 shares in the company, valued at $424,173.36. The disclosure for this purchase can be found here. Over the last three months, insiders sold 31,000 shares of company stock valued at $2,202,100. Insiders own 17.20% of the company’s stock.

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About Incyte

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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