Spark Investment Management LLC increased its position in Incyte Corporation (NASDAQ:INCY) by 253.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 54,800 shares of the biopharmaceutical company’s stock after buying an additional 39,300 shares during the period. Spark Investment Management LLC’s holdings in Incyte Corporation were worth $6,899,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. State Street Corp raised its stake in shares of Incyte Corporation by 110.7% in the first quarter. State Street Corp now owns 7,581,684 shares of the biopharmaceutical company’s stock worth $1,013,437,000 after buying an additional 3,983,207 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Incyte Corporation by 22.7% in the first quarter. Vanguard Group Inc. now owns 15,415,857 shares of the biopharmaceutical company’s stock worth $2,060,638,000 after buying an additional 2,847,907 shares in the last quarter. Victory Capital Management Inc. bought a new stake in shares of Incyte Corporation during the first quarter worth $85,751,000. Geode Capital Management LLC raised its stake in shares of Incyte Corporation by 42.0% in the first quarter. Geode Capital Management LLC now owns 1,780,064 shares of the biopharmaceutical company’s stock worth $237,618,000 after buying an additional 526,163 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of Incyte Corporation by 117.6% in the first quarter. Morgan Stanley now owns 776,654 shares of the biopharmaceutical company’s stock worth $103,815,000 after buying an additional 419,732 shares in the last quarter. 91.73% of the stock is currently owned by hedge funds and other institutional investors.
Incyte Corporation (INCY) traded up 1.62% during trading on Friday, reaching $124.10. 898,025 shares of the company were exchanged. Incyte Corporation has a 12 month low of $75.52 and a 12 month high of $153.15. The stock has a 50 day moving average price of $130.96 and a 200 day moving average price of $129.40. The firm’s market capitalization is $25.53 billion.
Incyte Corporation (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by $0.01. The company had revenue of $326.40 million during the quarter, compared to analyst estimates of $318.45 million. Incyte Corporation had a negative return on equity of 21.57% and a negative net margin of 11.77%. The business’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.18 EPS. On average, analysts expect that Incyte Corporation will post ($0.89) EPS for the current fiscal year.
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Several equities research analysts have recently commented on the company. Raymond James Financial, Inc. restated a “hold” rating on shares of Incyte Corporation in a research note on Monday, April 17th. Jefferies Group LLC restated a “buy” rating and issued a $148.00 price objective (down from $165.00) on shares of Incyte Corporation in a research note on Monday, April 17th. Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $124.00 target price on shares of Incyte Corporation in a report on Monday, April 17th. BidaskClub raised shares of Incyte Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Finally, Zacks Investment Research raised shares of Incyte Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 23rd. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $140.39.
In other Incyte Corporation news, CFO David W. Gryska sold 16,756 shares of the company’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $116.60, for a total value of $1,953,749.60. Following the completion of the sale, the chief financial officer now directly owns 35,771 shares of the company’s stock, valued at approximately $4,170,898.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jean Jacques Bienaime purchased 500 shares of the business’s stock in a transaction on Wednesday, May 31st. The stock was acquired at an average cost of $131.80 per share, with a total value of $65,900.00. Following the completion of the acquisition, the director now directly owns 4,677 shares in the company, valued at approximately $616,428.60. The disclosure for this purchase can be found here. Insiders sold 48,183 shares of company stock valued at $5,976,946 in the last ninety days. Corporate insiders own 17.70% of the company’s stock.
About Incyte Corporation
Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).
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