Sit Investment Associates Inc. maintained its position in Incyte Corp. (NASDAQ:INCY) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,710 shares of the biopharmaceutical company’s stock at the end of the second quarter. Sit Investment Associates Inc.’s holdings in Incyte Corp. were worth $2,936,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Candriam Luxembourg S.C.A. increased its position in Incyte Corp. by 23.7% in the second quarter. Candriam Luxembourg S.C.A. now owns 338,061 shares of the biopharmaceutical company’s stock worth $27,039,000 after buying an additional 64,709 shares in the last quarter. Capital Fund Management S.A. bought a new position in Incyte Corp. during the second quarter worth approximately $33,288,000. Royal Bank of Canada increased its position in Incyte Corp. by 119.9% in the first quarter. Royal Bank of Canada now owns 621,527 shares of the biopharmaceutical company’s stock worth $45,042,000 after buying an additional 338,904 shares in the last quarter. Geode Capital Management LLC increased its position in Incyte Corp. by 4.8% in the first quarter. Geode Capital Management LLC now owns 1,068,236 shares of the biopharmaceutical company’s stock worth $77,372,000 after buying an additional 48,498 shares in the last quarter. Finally, Douglass Winthrop Advisors LLC bought a new position in Incyte Corp. during the second quarter worth approximately $221,000. 92.32% of the stock is owned by institutional investors.
Shares of Incyte Corp. (NASDAQ:INCY) traded down 1.12% during midday trading on Monday, reaching $96.73. The company’s stock had a trading volume of 1,026,311 shares. Incyte Corp. has a 52-week low of $55.00 and a 52-week high of $124.98. The stock has a 50 day moving average price of $85.39 and a 200-day moving average price of $80.88. The company has a market capitalization of $18.19 billion, a price-to-earnings ratio of 262.85 and a beta of 0.53.
Incyte Corp. (NASDAQ:INCY) last released its earnings results 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 firm had revenue of $208 million for the quarter, compared to analyst estimates of $236.91 million. Incyte Corp. had a return on equity of 37.76% and a net margin of 7.87%. The company’s revenue was up 51.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.05 EPS. Equities research analysts expect that Incyte Corp. will post $0.19 EPS for the current year.
INCY has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of Incyte Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, August 16th. RBC Capital Markets reaffirmed an “outperform” rating and set a $116.00 price objective on shares of Incyte Corp. in a research note on Wednesday, September 28th. Argus boosted their target price on Incyte Corp. from $92.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, September 26th. SunTrust Banks Inc. started coverage on Incyte Corp. in a report on Friday, August 5th. They set a “buy” rating and a $105.00 target price for the company. Finally, Piper Jaffray Cos. reiterated a “buy” rating and set a $102.00 target price (up previously from $76.00) on shares of Incyte Corp. in a report on Monday, August 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-one have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $105.40.
In other news, EVP Paula J. Swain sold 20,000 shares of Incyte Corp. stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $90.00, for a total transaction of $1,800,000.00. Following the sale, the executive vice president now owns 49,248 shares of the company’s stock, valued at approximately $4,432,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Reid M. Huber sold 10,000 shares of Incyte Corp. stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $87.96, for a total value of $879,600.00. The disclosure for this sale can be found here. Insiders own 13.70% of the company’s stock.
Incyte Corp. Company Profile
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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