Envestnet Asset Management Inc. cut its position in shares of Incyte Co. (NASDAQ:INCY) by 15.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,850 shares of the biopharmaceutical company’s stock after selling 1,079 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Incyte were worth $682,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Incyte by 11.1% during the second quarter. Vanguard Group Inc. now owns 17,125,542 shares of the biopharmaceutical company’s stock valued at $2,156,276,000 after acquiring an additional 1,709,685 shares during the last quarter. Capital International Investors increased its position in Incyte by 4.0% in the second quarter. Capital International Investors now owns 6,407,197 shares of the biopharmaceutical company’s stock worth $806,730,000 after buying an additional 246,134 shares in the last quarter. BB Biotech AG increased its position in Incyte by 0.7% in the second quarter. BB Biotech AG now owns 3,514,822 shares of the biopharmaceutical company’s stock worth $442,551,000 after buying an additional 25,000 shares in the last quarter. Matrix Capital Management Company LP increased its position in Incyte by 28.3% in the second quarter. Matrix Capital Management Company LP now owns 1,796,716 shares of the biopharmaceutical company’s stock worth $226,225,000 after buying an additional 396,716 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in Incyte by 10.7% in the second quarter. UBS Asset Management Americas Inc. now owns 1,636,035 shares of the biopharmaceutical company’s stock worth $205,993,000 after buying an additional 158,574 shares in the last quarter. 90.74% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have commented on INCY shares. JPMorgan Chase & Co. restated a “buy” rating on shares of Incyte in a research report on Wednesday, October 25th. Jefferies Group reaffirmed a “buy” rating on shares of Incyte in a research note on Friday, October 6th. Goldman Sachs Group began coverage on Incyte in a research note on Friday, October 6th. They issued a “buy” rating and a $160.00 price objective for the company. Cowen reaffirmed a “buy” rating on shares of Incyte in a research note on Tuesday, December 5th. Finally, Royal Bank of Canada raised Incyte from a “sector perform” rating to an “outperform” rating and set a $136.00 price target for the company in a research note on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $143.11.
In other Incyte news, Director Paul A. Friedman sold 28,507 shares of Incyte stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $105.24, for a total transaction of $3,000,076.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David W. Gryska sold 3,915 shares of Incyte stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $105.63, for a total value of $413,541.45. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,878 shares of company stock valued at $4,636,494. 17.70% of the stock is currently owned by insiders.
Incyte Co. (INCY) traded up $1.01 during trading on Friday, hitting $94.07. The stock had a trading volume of 1,570,000 shares, compared to its average volume of 1,510,000. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.82 and a quick ratio of 4.81. The firm has a market cap of $19,850.00, a PE ratio of -117.59 and a beta of 0.74. Incyte Co. has a 52-week low of $92.52 and a 52-week high of $153.15.
Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.11. Incyte had a negative return on equity of 12.91% and a negative net margin of 10.90%. The firm had revenue of $381.50 million during the quarter, compared to analysts’ expectations of $360.34 million. During the same quarter last year, the firm earned $0.19 EPS. The business’s quarterly revenue was up 41.6% on a year-over-year basis. equities research analysts forecast that Incyte Co. will post -1.31 EPS for the current year.
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Incyte Company Profile
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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