Capital Fund Management S.A. bought a new stake in shares of Incyte Corp. (NASDAQ:INCY) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 416,203 shares of the biopharmaceutical company’s stock, valued at approximately $33,288,000.
Several other hedge funds have also recently made changes to their positions in INCY. Aperio Group LLC increased its stake in Incyte Corp. by 10.6% in the first quarter. Aperio Group LLC now owns 28,947 shares of the biopharmaceutical company’s stock worth $2,098,000 after buying an additional 2,777 shares during the period. Mn Services Vermogensbeheer B.V. bought a new stake in Incyte Corp. during the first quarter worth about $266,000. Torray LLC bought a new stake in Incyte Corp. during the first quarter worth about $33,616,000. CQS Cayman LP bought a new stake in Incyte Corp. during the first quarter worth about $6,975,000. Finally, Prudential Financial Inc. increased its stake in Incyte Corp. by 34.1% in the first quarter. Prudential Financial Inc. now owns 93,615 shares of the biopharmaceutical company’s stock worth $6,785,000 after buying an additional 23,800 shares during the period. Institutional investors own 92.32% of the company’s stock.
Incyte Corp. (NASDAQ:INCY) traded up 0.35% on Tuesday, hitting $89.07. 1,219,207 shares of the company’s stock traded hands. The stock has a market cap of $16.75 billion, a P/E ratio of 242.04 and a beta of 0.71. The stock has a 50 day moving average price of $82.09 and a 200-day moving average price of $79.29. Incyte Corp. has a 12 month low of $55.00 and a 12 month high of $131.33.
Incyte Corp. (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.20. The company earned $208 million during the quarter, compared to the consensus estimate of $236.91 million. Incyte Corp. had a return on equity of 37.76% and a net margin of 7.87%. The firm’s revenue was up 51.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.05 EPS. Equities analysts predict that Incyte Corp. will post $0.18 earnings per share for the current fiscal year.
INCY has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of Incyte Corp. from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a report on Tuesday, July 19th. Royal Bank Of Canada initiated coverage on shares of Incyte Corp. in a report on Tuesday, July 12th. They set an “outperform” rating and a $105.00 price objective for the company. SunTrust Banks Inc. initiated coverage on shares of Incyte Corp. in a report on Friday, August 5th. They set a “buy” rating and a $105.00 price objective for the company. Piper Jaffray Cos. set a $102.00 price objective on shares of Incyte Corp. and gave the stock a “buy” rating in a report on Tuesday, August 16th. Finally, Leerink Swann raised their price objective on shares of Incyte Corp. from $85.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nineteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $104.08.
In related news, EVP Reid M. Huber sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $87.96, for a total transaction of $879,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paula J. Swain sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $90.00, for a total value of $5,400,000.00. Following the transaction, the executive vice president now owns 89,248 shares of the company’s stock, valued at $8,032,320. The disclosure for this sale can be found here. Corporate insiders own 13.70% of the company’s stock.
About Incyte Corp.
Incyte Corporation is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapeutics to treat medical needs, primarily in oncology. The Company focuses on the research and development program to explore the inhibition of enzymes called janus associated kinases (JAK).
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