Incyte Co. (NASDAQ:INCY) Stock Holdings Boosted by Sector Gamma AS

Sector Gamma AS boosted its position in Incyte Co. (NASDAQ:INCY) by 10.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 345,893 shares of the biopharmaceutical company’s stock after purchasing an additional 32,000 shares during the period. Incyte comprises approximately 4.3% of Sector Gamma AS’s portfolio, making the stock its 7th biggest holding. Sector Gamma AS owned 0.16% of Incyte worth $25,676,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of INCY. Invesco Ltd. raised its holdings in Incyte by 76.2% during the 2nd quarter. Invesco Ltd. now owns 5,210,785 shares of the biopharmaceutical company’s stock valued at $442,708,000 after acquiring an additional 2,252,891 shares during the period. Nuveen Asset Management LLC raised its holdings in Incyte by 3,415.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 2,212,722 shares of the biopharmaceutical company’s stock valued at $187,993,000 after acquiring an additional 2,149,784 shares during the period. Renaissance Technologies LLC raised its holdings in Incyte by 133.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,962,310 shares of the biopharmaceutical company’s stock valued at $166,718,000 after acquiring an additional 1,121,310 shares during the period. Bessemer Group Inc. raised its holdings in Incyte by 115,574.2% during the 2nd quarter. Bessemer Group Inc. now owns 564,490 shares of the biopharmaceutical company’s stock valued at $47,959,000 after acquiring an additional 564,002 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Incyte by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 19,441,152 shares of the biopharmaceutical company’s stock valued at $1,651,720,000 after acquiring an additional 306,066 shares during the period. Institutional investors and hedge funds own 91.70% of the company’s stock.

In other Incyte news, Director Wendy L. Dixon sold 10,576 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $84.16, for a total transaction of $890,076.16. Following the completion of the transaction, the director now owns 22,916 shares of the company’s stock, valued at $1,928,610.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wendy L. Dixon sold 41,218 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $83.87, for a total transaction of $3,456,953.66. Following the transaction, the director now directly owns 22,916 shares of the company’s stock, valued at approximately $1,921,964.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 94,294 shares of company stock valued at $7,849,355. 17.10% of the stock is owned by insiders.

INCY has been the topic of a number of analyst reports. BMO Capital Markets initiated coverage on shares of Incyte in a report on Thursday, September 12th. They set a “market perform” rating and a $85.00 target price on the stock. Cowen reaffirmed a “buy” rating on shares of Incyte in a report on Friday, September 27th. Oppenheimer raised shares of Incyte from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $85.00 to $100.00 in a report on Thursday, September 5th. They noted that the move was a valuation call. Morgan Stanley upped their price target on shares of Incyte from $82.00 to $87.00 and gave the stock an “equal weight” rating in a report on Thursday, September 5th. Finally, JMP Securities upped their price target on shares of Incyte from $107.00 to $110.00 and gave the stock a “market outperform” rating in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, ten have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Incyte currently has an average rating of “Buy” and a consensus price target of $92.90.

INCY traded up $2.34 during trading on Friday, reaching $85.10. The stock had a trading volume of 870,200 shares, compared to its average volume of 1,276,004. Incyte Co. has a one year low of $57.00 and a one year high of $89.30. The stock has a market cap of $18.12 billion, a PE ratio of 103.78, a PEG ratio of 1.23 and a beta of 0.99. The business has a 50-day moving average of $78.24 and a 200-day moving average of $80.22. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.01 and a current ratio of 5.02.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.27. Incyte had a net margin of 19.21% and a return on equity of 20.07%. The company had revenue of $551.58 million during the quarter, compared to the consensus estimate of $534.73 million. During the same period in the prior year, the firm earned $0.41 earnings per share. Incyte’s revenue was up 22.7% on a year-over-year basis. Equities research analysts forecast that Incyte Co. will post 2.14 EPS for the current fiscal year.

About Incyte

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat 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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