Teacher Retirement System of Texas increased its position in shares of Incyte Corp. (NASDAQ:INCY) by 32.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,059 shares of the biopharmaceutical company’s stock after buying an additional 2,943 shares during the period. Teacher Retirement System of Texas’ holdings in Incyte Corp. were worth $964,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in INCY. Aperio Group LLC boosted its position in shares of 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 last quarter. Mn Services Vermogensbeheer B.V. bought a new position in shares of Incyte Corp. during the first quarter worth about $266,000. Torray LLC bought a new position in shares of Incyte Corp. during the first quarter worth about $33,616,000. CQS Cayman LP bought a new position in shares of Incyte Corp. during the first quarter worth about $6,975,000. Finally, Prudential Financial Inc. boosted its position in shares of 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 last quarter. Institutional investors and hedge funds own 92.32% of the company’s stock.
Shares of Incyte Corp. (NASDAQ:INCY) traded down 1.377% during trading on Monday, hitting $87.755. The stock had a trading volume of 457,694 shares. The firm has a 50 day moving average price of $82.15 and a 200 day moving average price of $79.02. The firm has a market cap of $16.50 billion, a P/E ratio of 238.465 and a beta of 0.71. Incyte Corp. has a 12-month low of $55.00 and a 12-month high of $131.33.
Incyte Corp. (NASDAQ:INCY) last issued its earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.20. The company earned $208 million during 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 firm’s quarterly revenue was up 51.1% on a year-over-year basis. During the same quarter last year, the business posted $0.05 EPS. On average, equities analysts expect that Incyte Corp. will post $0.18 earnings per share for the current fiscal year.
INCY has been the subject of a number of recent research reports. Brean Capital reiterated a “buy” rating on shares of Incyte Corp. in a research note on Monday, June 6th. BMO Capital Markets reissued a “buy” rating and issued a $97.00 target price (up previously from $91.00) on shares of Incyte Corp. in a report on Tuesday, June 7th. JMP Securities reissued an “outperform” rating and issued a $100.00 target price on shares of Incyte Corp. in a report on Wednesday, June 15th. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Incyte Corp. in a report on Wednesday, June 29th. Finally, Royal Bank Of Canada began coverage on Incyte Corp. in a report on Tuesday, July 12th. They issued an “outperform” rating and a $105.00 target price for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nineteen have issued a buy rating to the stock. Incyte Corp. presently has an average rating of “Buy” and an average target price of $104.08.
In related news, EVP Reid M. Huber sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $87.96, for a total value of $879,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Paula J. Swain sold 60,000 shares of the firm’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $90.00, for a total value of $5,400,000.00. Following the completion of the transaction, the executive vice president now owns 89,248 shares of the company’s stock, valued at approximately $8,032,320. The disclosure for this sale can be found here. 13.70% of the stock is owned by corporate insiders.
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).
Want to see what other hedge funds are holding INCY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Incyte Corp. (NASDAQ:INCY).
Receive News & Ratings for Incyte Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte Corp. and related companies with MarketBeat.com's FREE daily email newsletter.