QCI Asset Management Inc. NY purchased a new stake in shares of Incyte Co. (NASDAQ:INCY) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 205,190 shares of the biopharmaceutical company’s stock, valued at approximately $14,175,000. QCI Asset Management Inc. NY owned about 0.10% of Incyte at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in INCY. NuWave Investment Management LLC grew its holdings in shares of Incyte by 19,237.5% during the 3rd quarter. NuWave Investment Management LLC now owns 1,547 shares of the biopharmaceutical company’s stock valued at $107,000 after purchasing an additional 1,539 shares during the last quarter. Resources Investment Advisors Inc. grew its holdings in Incyte by 93.8% during the 2nd quarter. Resources Investment Advisors Inc. now owns 1,738 shares of the biopharmaceutical company’s stock worth $116,000 after acquiring an additional 841 shares during the last quarter. First Mercantile Trust Co. grew its holdings in Incyte by 75.8% during the 2nd quarter. First Mercantile Trust Co. now owns 2,157 shares of the biopharmaceutical company’s stock worth $145,000 after acquiring an additional 930 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in Incyte during the 2nd quarter worth approximately $161,000. Finally, Seven Eight Capital LP bought a new stake in Incyte during the 3rd quarter worth approximately $202,000. 92.03% of the stock is currently owned by institutional investors.
A number of equities research analysts have weighed in on INCY shares. Cowen reissued a “buy” rating on shares of Incyte in a report on Tuesday, July 31st. Raymond James reissued a “buy” rating on shares of Incyte in a report on Friday, July 27th. JPMorgan Chase & Co. reissued a “buy” rating and set a $88.00 target price on shares of Incyte in a report on Wednesday, August 1st. Zacks Investment Research raised shares of Incyte from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a report on Friday, July 20th. Finally, BidaskClub raised shares of Incyte from a “hold” rating to a “buy” rating in a report on Monday, August 20th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $94.48.
In other news, EVP Paula J. Swain sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $70.00, for a total value of $700,000.00. Following the transaction, the executive vice president now owns 42,324 shares in the company, valued at approximately $2,962,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jean Jacques Bienaime purchased 1,000 shares of the company’s stock in a transaction dated Thursday, November 8th. The stock was purchased at an average price of $68.77 per share, for a total transaction of $68,770.00. Following the transaction, the director now directly owns 6,168 shares in the company, valued at approximately $424,173.36. The disclosure for this purchase can be found here. Insiders sold a total of 31,000 shares of company stock worth $2,202,100 in the last 90 days. Corporate insiders own 17.20% of the company’s stock.
Shares of NASDAQ INCY opened at $66.03 on Friday. The company has a market capitalization of $14.69 billion, a PE ratio of 406.06 and a beta of 1.12. Incyte Co. has a 52-week low of $58.33 and a 52-week high of $108.25. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.01 and a current ratio of 4.02.
Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, October 30th. The biopharmaceutical company reported $0.38 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 positive return on equity of 2.23% and a negative net margin of 6.07%. The firm’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.19 EPS. On average, equities research analysts expect that Incyte Co. will post 0.43 EPS for the current year.
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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