Credit Suisse AG lifted its holdings in Incyte Co. (NASDAQ:INCY) by 4.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 298,471 shares of the biopharmaceutical company’s stock after buying an additional 11,522 shares during the period. Credit Suisse AG owned approximately 0.14% of Incyte worth $20,617,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of the company. State Board of Administration of Florida Retirement System lifted its stake in shares of Incyte by 0.3% in the third quarter. State Board of Administration of Florida Retirement System now owns 242,020 shares of the biopharmaceutical company’s stock worth $16,719,000 after buying an additional 779 shares in the last quarter. Xact Kapitalforvaltning AB lifted its stake in shares of Incyte by 2.4% in the third quarter. Xact Kapitalforvaltning AB now owns 33,474 shares of the biopharmaceutical company’s stock worth $2,312,000 after buying an additional 792 shares in the last quarter. Resources Investment Advisors Inc. lifted its stake in shares of Incyte by 93.8% in the second quarter. Resources Investment Advisors Inc. now owns 1,738 shares of the biopharmaceutical company’s stock worth $116,000 after buying an additional 841 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Incyte by 4.6% in 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 in the last quarter. Finally, Gabelli Funds LLC lifted its stake in shares of Incyte by 2.8% in the third quarter. Gabelli Funds LLC now owns 36,900 shares of the biopharmaceutical company’s stock worth $2,549,000 after buying an additional 1,000 shares in the last quarter. 93.21% of the stock is currently owned by hedge funds and other institutional investors.
INCY has been the topic of a number of analyst reports. Royal Bank of Canada raised shares of Incyte from a “sector perform” rating to an “outperform” rating and set a $74.00 target price on the stock in a research note on Wednesday, August 15th. They noted that the move was a valuation call. Raymond James reaffirmed a “buy” rating and set a $85.00 target price on shares of Incyte in a research note on Thursday, October 25th. BidaskClub raised shares of Incyte from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 31st. Cantor Fitzgerald reaffirmed a “hold” rating and set a $74.00 target price (up from $73.00) on shares of Incyte in a research note on Sunday, October 21st. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Incyte in a research note on Saturday, September 15th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the company. Incyte currently has an average rating of “Buy” and an average 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, September 4th. The shares were sold at an average price of $73.21, for a total value of $732,100.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jean Jacques Bienaime purchased 1,000 shares of Incyte stock in a transaction dated Thursday, November 8th. The stock was bought at an average cost of $68.77 per share, for a total transaction of $68,770.00. Following the completion of the purchase, 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 21,000 shares of company stock worth $1,502,100 over the last three months. Insiders own 17.20% of the company’s stock.
Incyte stock opened at $64.25 on Monday. The company has a market capitalization of $13.67 billion, a PE ratio of 100.39 and a beta of 1.12. Incyte Co. has a 1 year low of $58.33 and a 1 year high of $102.63. The company has a current ratio of 4.02, a quick ratio of 4.01 and a debt-to-equity ratio of 0.01.
Incyte (NASDAQ:INCY) last released its quarterly 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 company had revenue of $449.68 million during the quarter, compared to analysts’ expectations of $448.34 million. Incyte had a negative net margin of 6.07% and a positive return on equity of 2.23%. Incyte’s revenue was up 17.9% on a year-over-year basis. During the same period last year, the firm posted $0.19 earnings per share. On average, research analysts forecast that Incyte Co. will post 0.43 EPS for the current year.
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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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