Tokio Marine Asset Management Co. Ltd. lowered its position in shares of Incyte Corporation (NASDAQ:INCY) by 18.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,793 shares of the biopharmaceutical company’s stock after selling 11,232 shares during the period. Incyte Corporation makes up 0.9% of Tokio Marine Asset Management Co. Ltd.’s portfolio, making the stock its 29th largest position. Tokio Marine Asset Management Co. Ltd.’s holdings in Incyte Corporation were worth $6,790,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. IFP Advisors Inc increased its position in Incyte Corporation by 6.8% in the first quarter. IFP Advisors Inc now owns 1,043 shares of the biopharmaceutical company’s stock worth $139,000 after buying an additional 66 shares during the period. Howard Hughes Medical Institute increased its position in Incyte Corporation by 42.2% in the first quarter. Howard Hughes Medical Institute now owns 1,210 shares of the biopharmaceutical company’s stock worth $162,000 after buying an additional 359 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in Incyte Corporation by 1.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,322 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 22 shares during the period. Douglass Winthrop Advisors LLC purchased a new stake in Incyte Corporation during the first quarter worth $201,000. Finally, Norris Perne & French LLP MI purchased a new stake in Incyte Corporation during the first quarter worth $201,000. Hedge funds and other institutional investors own 92.89% of the company’s stock.
Incyte Corporation (NASDAQ:INCY) traded down 1.93% during midday trading on Friday, reaching $118.05. 3,658,783 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $124.16 and a 200 day moving average price of $122.87. Incyte Corporation has a 12 month low of $71.75 and a 12 month high of $153.15. The company’s market cap is $24.17 billion.
Incyte Corporation (NASDAQ:INCY) last announced its quarterly earnings results on Thursday, May 4th. The biopharmaceutical company reported ($0.96) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.97) by $0.01. Incyte Corporation had a negative return on equity of 20.09% and a negative net margin of 8.72%. The firm had revenue of $384.08 million for the quarter, compared to analyst estimates of $359.19 million. During the same period last year, the firm posted $0.12 earnings per share. The business’s revenue for the quarter was up 45.8% on a year-over-year basis. On average, equities analysts anticipate that Incyte Corporation will post ($0.75) EPS for the current year.
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A number of analysts recently weighed in on INCY shares. Instinet initiated coverage on shares of Incyte Corporation in a report on Wednesday, March 1st. They issued a “buy” rating and a $148.00 price objective on the stock. Jefferies Group LLC restated a “buy” rating and set a $140.00 price objective on shares of Incyte Corporation in a research report on Tuesday, February 21st. Raymond James Financial, Inc. lowered shares of Incyte Corporation from an “outperform” rating to a “hold” rating in a research report on Thursday, April 6th. Royal Bank of Canada restated a “buy” rating and set a $138.00 price objective on shares of Incyte Corporation in a research report on Friday, March 31st. Finally, TheStreet cut shares of Incyte Corporation from a “c+” rating to a “d+” rating in a report on Thursday, May 4th. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $141.93.
In other Incyte Corporation news, EVP Steven H. Stein sold 32,000 shares of Incyte Corporation stock in a transaction that occurred on Friday, April 7th. The stock was sold at an average price of $137.88, for a total value of $4,412,160.00. Following the completion of the sale, the executive vice president now directly owns 41,648 shares in the company, valued at $5,742,426.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO David W. Gryska sold 16,756 shares of Incyte Corporation stock in a transaction that occurred on Monday, June 12th. The stock was 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 owns 35,771 shares of the company’s stock, valued at $4,170,898.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 3,500 shares of company stock valued at $464,670 and have sold 109,544 shares valued at $14,547,094. 13.70% of the stock is owned by company insiders.
Incyte Corporation Company Profile
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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