Berson & Corrado Investment Advisors LLC Has $1.23 Million Stake in Incyte Co. (INCY)

Berson & Corrado Investment Advisors LLC lifted its holdings in shares of Incyte Co. (NASDAQ:INCY) by 41.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,017 shares of the biopharmaceutical company’s stock after acquiring an additional 3,821 shares during the quarter. Berson & Corrado Investment Advisors LLC’s holdings in Incyte were worth $1,233,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Sit Investment Associates Inc. grew its stake in Incyte by 7.7% in the fourth quarter. Sit Investment Associates Inc. now owns 51,685 shares of the biopharmaceutical company’s stock worth $4,895,000 after purchasing an additional 3,700 shares in the last quarter. DnB Asset Management AS grew its stake in Incyte by 13.3% in the fourth quarter. DnB Asset Management AS now owns 31,600 shares of the biopharmaceutical company’s stock worth $2,993,000 after purchasing an additional 3,700 shares in the last quarter. Parametric Portfolio Associates LLC grew its stake in Incyte by 8.3% in the third quarter. Parametric Portfolio Associates LLC now owns 236,789 shares of the biopharmaceutical company’s stock worth $27,643,000 after purchasing an additional 18,234 shares in the last quarter. IFM Investors Pty Ltd acquired a new position in Incyte in the third quarter worth about $567,000. Finally, Piedmont Investment Advisors LLC acquired a new position in Incyte in the third quarter valued at approximately $503,000. Institutional investors and hedge funds own 90.74% of the company’s stock.

In related news, insider David W. Gryska sold 3,915 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $105.63, for a total transaction of $413,541.45. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Paul A. Friedman sold 28,507 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $105.24, for a total value of $3,000,076.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,878 shares of company stock valued at $4,636,494. Insiders own 17.70% of the company’s stock.

INCY has been the subject of a number of research reports. Deutsche Bank initiated coverage on Incyte in a research note on Tuesday, December 12th. They issued a “hold” rating and a $106.00 target price for the company. Argus restated a “buy” rating and issued a $150.00 target price on shares of Incyte in a research note on Wednesday, September 13th. BMO Capital Markets decreased their target price on Incyte from $163.00 to $162.00 and set an “outperform” rating for the company in a research note on Thursday, October 26th. Royal Bank of Canada decreased their target price on Incyte from $136.00 to $120.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 21st. Finally, Raymond James Financial restated a “buy” rating on shares of Incyte in a research note on Tuesday, December 12th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $143.11.

Shares of Incyte Co. (NASDAQ:INCY) traded up $0.33 during midday trading on Wednesday, hitting $96.62. The stock had a trading volume of 1,347,657 shares, compared to its average volume of 1,470,000. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.81 and a current ratio of 4.82. The firm has a market capitalization of $20,390.00, a P/E ratio of -120.78 and a beta of 0.74. Incyte Co. has a fifty-two week low of $92.91 and a fifty-two week high of $153.15.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.11. The business had revenue of $381.50 million during the quarter, compared to the consensus estimate of $360.34 million. Incyte had a negative return on equity of 12.91% and a negative net margin of 10.90%. The business’s revenue was up 41.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.19 earnings per share. equities research analysts forecast that Incyte Co. will post -1.32 earnings per share for the current year.

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Incyte 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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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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