Cambridge Investment Research Advisors Inc. bought a new stake in shares of Incyte Corporation (NASDAQ:INCY) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,149 shares of the biopharmaceutical company’s stock, valued at approximately $368,000.
A number of other hedge funds have also modified their holdings of INCY. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in Incyte by 3.6% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 41,013 shares of the biopharmaceutical company’s stock worth $4,788,000 after acquiring an additional 1,409 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in Incyte by 2,058.1% in the third quarter. Teacher Retirement System of Texas now owns 104,776 shares of the biopharmaceutical company’s stock worth $12,232,000 after purchasing an additional 99,921 shares during the period. Los Angeles Capital Management & Equity Research Inc. grew its holdings in Incyte by 13.2% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 22,816 shares of the biopharmaceutical company’s stock worth $2,664,000 after purchasing an additional 2,660 shares during the period. Toronto Dominion Bank grew its holdings in shares of Incyte by 12.7% during the third quarter. Toronto Dominion Bank now owns 64,904 shares of the biopharmaceutical company’s stock valued at $7,576,000 after buying an additional 7,320 shares during the last quarter. Finally, New York State Common Retirement Fund grew its holdings in shares of Incyte by 1.5% during the third quarter. New York State Common Retirement Fund now owns 512,247 shares of the biopharmaceutical company’s stock valued at $59,800,000 after buying an additional 7,500 shares during the last quarter. 90.86% of the stock is currently owned by institutional investors and hedge funds.
Shares of Incyte Corporation (INCY) traded up $0.08 on Thursday, reaching $93.79. 1,273,000 shares of the company were exchanged, compared to its average volume of 1,915,956. Incyte Corporation has a one year low of $92.91 and a one year high of $153.15. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.82 and a quick ratio of 4.81.
Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.11. Incyte had a negative net margin of 10.90% and a negative return on equity of 12.91%. The company had revenue of $381.50 million during the quarter, compared to analyst estimates of $360.34 million. During the same quarter last year, the business posted $0.19 EPS. The firm’s revenue for the quarter was up 41.6% on a year-over-year basis. research analysts forecast that Incyte Corporation will post -1.33 EPS for the current fiscal year.
INCY has been the topic of several research reports. BMO Capital Markets restated an “outperform” rating and issued a $163.00 target price (down previously from $172.00) on shares of Incyte in a report on Monday, September 11th. Royal Bank Of Canada started coverage on shares of Incyte in a research report on Thursday, September 14th. They set a “sector perform” rating and a $136.00 price objective on the stock. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Incyte in a research note on Tuesday, October 31st. Evercore ISI assumed coverage on shares of Incyte in a research note on Wednesday, August 16th. They issued an “in-line” rating and a $135.00 price objective for the company. Finally, Oppenheimer reissued a “hold” rating and issued a $135.00 price objective on shares of Incyte in a research note on Sunday, September 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Incyte currently has an average rating of “Buy” and a consensus price target of $145.65.
In other news, Director Bros. Advisors Lp Baker acquired 100,000 shares of Incyte stock in a transaction that occurred on Friday, September 8th. The stock was purchased at an average price of $132.00 per share, for a total transaction of $13,200,000.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Reid M. Huber sold 696 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $98.01, for a total transaction of $68,214.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 104,334 shares of company stock valued at $11,992,011. Company insiders own 17.70% of the company’s stock.
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Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).
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