Westpac Banking Corp reduced its position in shares of Incyte Corp. (NASDAQ:INCY) by 50.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,681 shares of the biopharmaceutical company’s stock after selling 9,748 shares during the period. Westpac Banking Corp’s holdings in Incyte Corp. were worth $774,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. Candriam Luxembourg S.C.A. boosted 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 during the last quarter. Capital Fund Management S.A. purchased a new position in Incyte Corp. during the second quarter worth $33,288,000. Royal Bank of Canada boosted 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 during the last quarter. Geode Capital Management LLC boosted 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 during the last quarter. Finally, Douglass Winthrop Advisors LLC purchased a new position in Incyte Corp. during the second quarter worth $221,000. 92.32% of the stock is owned by institutional investors.
Shares of Incyte Corp. (NASDAQ:INCY) traded down 0.43% during mid-day trading on Monday, reaching $93.88. 234,019 shares of the company were exchanged. Incyte Corp. has a 12 month low of $55.00 and a 12 month high of $128.69. The stock has a market capitalization of $17.65 billion, a P/E ratio of 255.11 and a beta of 0.53. The firm has a 50-day moving average price of $82.94 and a 200 day moving average price of $79.80.
Incyte Corp. (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 7.87% and a return on equity of 37.76%. The firm’s revenue for the quarter was up 51.1% compared to the same quarter last year. During the same period last year, the firm earned $0.05 EPS. Equities research analysts anticipate that Incyte Corp. will post $0.20 EPS for the current fiscal year.
INCY has been the subject of a number of analyst reports. Zacks Investment Research cut shares of Incyte Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, August 16th. RBC Capital Markets reissued an “outperform” rating and issued a $116.00 price objective on shares of Incyte Corp. in a research report on Wednesday, September 28th. Argus upped their price objective on shares of Incyte Corp. from $92.00 to $98.00 and gave the company a “buy” rating in a research report on Monday, September 26th. SunTrust Banks Inc. initiated coverage on shares of Incyte Corp. in a research report on Friday, August 5th. They issued a “buy” rating and a $105.00 price objective for the company. Finally, Piper Jaffray Cos. restated a “buy” rating and issued a $102.00 target price (up previously from $76.00) on shares of Incyte Corp. in a research note on Monday, August 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-one have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $104.98.
In related news, EVP Paula J. Swain sold 20,000 shares of Incyte Corp. stock in a transaction dated Friday, September 23rd. The shares were sold at an average price of $90.00, for a total transaction of $1,800,000.00. Following the completion of the transaction, the executive vice president now directly 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 at the SEC website. Also, EVP Paula J. Swain sold 60,000 shares of Incyte Corp. stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $90.00, for a total transaction of $5,400,000.00. Following the transaction, the executive vice president now directly owns 89,248 shares of the company’s stock, valued at $8,032,320. 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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