BlackRock Inc. reduced its position in Incyte Co. (NASDAQ:INCY) by 0.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,272,594 shares of the biopharmaceutical company’s stock after selling 31,051 shares during the quarter. BlackRock Inc. owned about 6.73% of Incyte worth $1,189,334,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Renaissance Technologies LLC acquired a new stake in shares of Incyte during the fourth quarter worth $71,639,000. HealthCor Management L.P. lifted its holdings in shares of Incyte by 125.5% during the fourth quarter. HealthCor Management L.P. now owns 1,350,000 shares of the biopharmaceutical company’s stock worth $127,859,000 after purchasing an additional 751,450 shares during the period. Manning & Napier Group LLC lifted its holdings in shares of Incyte by 61.8% during the first quarter. Manning & Napier Group LLC now owns 1,875,220 shares of the biopharmaceutical company’s stock worth $156,261,000 after purchasing an additional 716,584 shares during the period. Sands Capital Management LLC lifted its holdings in shares of Incyte by 8.2% during the fourth quarter. Sands Capital Management LLC now owns 8,191,287 shares of the biopharmaceutical company’s stock worth $775,797,000 after purchasing an additional 621,323 shares during the period. Finally, Two Sigma Investments LP lifted its holdings in shares of Incyte by 143.1% during the fourth quarter. Two Sigma Investments LP now owns 729,107 shares of the biopharmaceutical company’s stock worth $69,054,000 after purchasing an additional 429,181 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.
In other news, President Herve Hoppenot purchased 15,000 shares of the company’s stock in a transaction dated Wednesday, May 2nd. The stock was acquired at an average price of $60.94 per share, for a total transaction of $914,100.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Paula J. Swain sold 80,000 shares of the firm’s stock in a transaction on Monday, April 30th. The shares were sold at an average price of $62.43, for a total value of $4,994,400.00. Following the completion of the transaction, the executive vice president now owns 39,467 shares of the company’s stock, valued at approximately $2,463,924.81. The disclosure for this sale can be found here. Company insiders own 17.20% of the company’s stock.
INCY has been the subject of several recent research reports. Nomura decreased their price target on Incyte to $102.00 and set a “buy” rating for the company in a report on Monday, April 9th. Guggenheim reaffirmed a “neutral” rating on shares of Incyte in a report on Friday, April 6th. Raymond James reaffirmed a “buy” rating on shares of Incyte in a report on Tuesday, April 24th. Credit Suisse Group set a $145.00 price target on Incyte and gave the stock a “buy” rating in a report on Wednesday, February 14th. Finally, BidaskClub downgraded Incyte from a “sell” rating to a “strong sell” rating in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company. Incyte presently has an average rating of “Buy” and an average price target of $115.71.
Incyte opened at $68.43 on Friday, Marketbeat.com reports. Incyte Co. has a one year low of $60.22 and a one year high of $140.11. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.86 and a quick ratio of 3.84. The firm has a market capitalization of $14.13 billion, a price-to-earnings ratio of 106.92 and a beta of 0.72.
Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, May 1st. The biopharmaceutical company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.08. Incyte had a negative return on equity of 0.74% and a negative net margin of 10.90%. The business had revenue of $382.28 million during the quarter, compared to analysts’ expectations of $384.03 million. During the same quarter last year, the business posted $0.14 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. analysts predict that Incyte Co. will post -0.19 earnings per share 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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