Renaissance Technologies LLC bought a new position in Incyte Co. (NASDAQ:INCY) in the fourth quarter, HoldingsChannel.com reports. The firm bought 756,400 shares of the biopharmaceutical company’s stock, valued at approximately $71,639,000.
Other large investors have also recently added to or reduced their stakes in the company. LMR Partners LLP purchased a new stake in Incyte in the third quarter worth $394,000. Exane Derivatives purchased a new stake in Incyte in the fourth quarter worth $669,000. Swiss National Bank increased its position in Incyte by 3.0% in the third quarter. Swiss National Bank now owns 641,700 shares of the biopharmaceutical company’s stock worth $74,912,000 after buying an additional 18,700 shares during the last quarter. Prudential Financial Inc. increased its position in Incyte by 0.6% in the third quarter. Prudential Financial Inc. now owns 236,699 shares of the biopharmaceutical company’s stock worth $27,633,000 after buying an additional 1,490 shares during the last quarter. Finally, Columbus Circle Investors increased its position in Incyte by 16.8% in the third quarter. Columbus Circle Investors now owns 128,703 shares of the biopharmaceutical company’s stock worth $15,025,000 after buying an additional 18,545 shares during the last quarter. 93.58% of the stock is owned by institutional investors and hedge funds.
Shares of Incyte Co. (INCY) opened at $94.23 on Monday. Incyte Co. has a 52 week low of $80.85 and a 52 week high of $153.15. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.01 and a quick ratio of 3.99.
In other Incyte news, EVP Vijay K. Iyengar sold 5,000 shares of Incyte stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $97.26, for a total transaction of $486,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David W. Gryska sold 6,760 shares of Incyte stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $98.87, for a total value of $668,361.20. Following the sale, the insider now directly owns 20,752 shares of the company’s stock, valued at approximately $2,051,750.24. The disclosure for this sale can be found here. Insiders have sold 15,670 shares of company stock valued at $1,489,181 in the last three months. 17.70% of the stock is owned by corporate insiders.
INCY has been the subject of a number of recent research reports. 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 report on Tuesday, November 21st. Nomura reaffirmed a “buy” rating on shares of Incyte in a report on Thursday, February 1st. Raymond James Financial set a $159.00 price target on Incyte and gave the stock a “buy” rating in a report on Wednesday, February 28th. Deutsche Bank assumed coverage on Incyte in a report on Tuesday, December 12th. They issued a “hold” rating and a $106.00 price target for the company. Finally, Credit Suisse Group set a $145.00 price target on Incyte and gave the stock a “buy” rating in a report on Wednesday, February 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Incyte has an average rating of “Buy” and a consensus target price of $142.83.
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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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