Squarepoint Ops LLC lifted its holdings in shares of Incyte Co. (NASDAQ:INCY) by 51.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 71,842 shares of the biopharmaceutical company’s stock after purchasing an additional 24,359 shares during the period. Squarepoint Ops LLC’s holdings in Incyte were worth $5,333,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in Incyte by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 19,441,152 shares of the biopharmaceutical company’s stock worth $1,651,720,000 after purchasing an additional 306,066 shares during the last quarter. State Street Corp grew its position in shares of Incyte by 0.8% in the 3rd quarter. State Street Corp now owns 8,129,426 shares of the biopharmaceutical company’s stock valued at $603,447,000 after buying an additional 66,797 shares during the last quarter. Invesco Ltd. increased its stake in shares of Incyte by 76.2% in the second quarter. Invesco Ltd. now owns 5,210,785 shares of the biopharmaceutical company’s stock valued at $442,708,000 after buying an additional 2,252,891 shares during the period. Nuveen Asset Management LLC increased its stake in shares of Incyte by 3,415.7% in the second quarter. Nuveen Asset Management LLC now owns 2,212,722 shares of the biopharmaceutical company’s stock valued at $187,993,000 after buying an additional 2,149,784 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Incyte by 6.7% in the second quarter. Northern Trust Corp now owns 2,150,745 shares of the biopharmaceutical company’s stock valued at $182,728,000 after buying an additional 135,914 shares during the period. Institutional investors own 91.10% of the company’s stock.
A number of research firms recently commented on INCY. Cowen reaffirmed a “buy” rating on shares of Incyte in a research note on Friday, September 27th. Mizuho reissued a “buy” rating and set a $98.00 target price on shares of Incyte in a research report on Wednesday, November 27th. Oppenheimer raised shares of Incyte from a “market perform” rating to an “outperform” rating and increased their target price for the company from $85.00 to $100.00 in a research report on Thursday, September 5th. They noted that the move was a valuation call. Morgan Stanley raised their price target on shares of Incyte from $82.00 to $87.00 and gave the stock an “equal weight” rating in a report on Thursday, September 5th. Finally, JMP Securities boosted their price target on shares of Incyte from $107.00 to $110.00 and gave the stock a “market outperform” rating in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $93.05.
Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.55 by $0.27. The company had revenue of $551.58 million during the quarter, compared to the consensus estimate of $534.73 million. Incyte had a net margin of 19.21% and a return on equity of 20.07%. The company’s quarterly revenue was up 22.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 EPS. Research analysts predict that Incyte Co. will post 2.14 EPS for the current fiscal year.
In related news, insider Paul Trower sold 16,500 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $80.45, for a total value of $1,327,425.00. Following the completion of the sale, the insider now directly owns 23,907 shares of the company’s stock, valued at approximately $1,923,318.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Paula J. Swain sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $80.00, for a total value of $200,000.00. Following the transaction, the executive vice president now directly owns 44,112 shares in the company, valued at $3,528,960. The disclosure for this sale can be found here. Over the last three months, insiders have sold 131,436 shares of company stock worth $11,362,285. 17.10% of the stock is owned by insiders.
Incyte Company Profile
Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.
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