Oak Ridge Investments LLC Decreases Holdings in Incyte Corporation (INCY)

Oak Ridge Investments LLC reduced its stake in Incyte Corporation (NASDAQ:INCY) by 13.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 80,745 shares of the biopharmaceutical company’s stock after selling 12,233 shares during the period. Oak Ridge Investments LLC’s holdings in Incyte Corporation were worth $9,426,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in INCY. Vanguard Group Inc. increased its holdings in shares of Incyte Corporation by 11.1% in the second quarter. Vanguard Group Inc. now owns 17,125,542 shares of the biopharmaceutical company’s stock valued at $2,156,276,000 after purchasing an additional 1,709,685 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Incyte Corporation by 4,570.1% in the second quarter. Janus Henderson Group PLC now owns 1,045,363 shares of the biopharmaceutical company’s stock valued at $131,622,000 after acquiring an additional 1,022,979 shares in the last quarter. Old Mutual Global Investors UK Ltd. grew its stake in shares of Incyte Corporation by 374.4% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 930,319 shares of the biopharmaceutical company’s stock valued at $108,605,000 after acquiring an additional 734,235 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Incyte Corporation by 64.1% in the second quarter. Jennison Associates LLC now owns 1,313,982 shares of the biopharmaceutical company’s stock valued at $165,443,000 after acquiring an additional 513,423 shares in the last quarter. Finally, Matrix Capital Management Company LP grew its stake in shares of Incyte Corporation by 28.3% in the second quarter. Matrix Capital Management Company LP now owns 1,796,716 shares of the biopharmaceutical company’s stock valued at $226,225,000 after acquiring an additional 396,716 shares in the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.

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Shares of Incyte Corporation (NASDAQ:INCY) traded up $0.21 during midday trading on Friday, reaching $106.69. 340,339 shares of the company were exchanged, compared to its average volume of 1,936,390. Incyte Corporation has a 1-year low of $98.49 and a 1-year high of $153.15. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.82 and a quick ratio of 4.81.

Incyte Corporation (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, beating analysts’ consensus estimates of $0.06 by $0.11. The business had revenue of $381.50 million during the quarter, compared to analyst estimates of $360.34 million. Incyte Corporation had a negative net margin of 10.90% and a negative return on equity of 12.91%. The firm’s quarterly revenue was up 41.6% on a year-over-year basis. During the same quarter last year, the business earned $0.19 EPS. analysts forecast that Incyte Corporation will post -1.3 earnings per share for the current fiscal year.

In other Incyte Corporation news, insider David W. Gryska sold 3,915 shares of the stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $105.63, for a total transaction of $413,541.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Herve Hoppenot sold 70,502 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $119.45, for a total transaction of $8,421,463.90. The disclosure for this sale can be found here. Insiders have sold a total of 102,062 shares of company stock valued at $12,652,893 in the last three months. Insiders own 17.70% of the company’s stock.

Several equities analysts recently commented on the stock. BidaskClub downgraded shares of Incyte Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. J P Morgan Chase & Co set a $149.00 price objective on shares of Incyte Corporation and gave the stock a “buy” rating in a research report on Tuesday, August 1st. Barclays PLC reaffirmed an “overweight” rating and set a $165.00 price objective (down previously from $180.00) on shares of Incyte Corporation in a research report on Wednesday, August 2nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $148.00 price objective on shares of Incyte Corporation in a research report on Thursday, July 27th. Finally, Evercore ISI started coverage on shares of Incyte Corporation in a research report on Wednesday, August 16th. They set an “in-line” rating and a $135.00 price objective for the company. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Incyte Corporation presently has a consensus rating of “Buy” and an average target price of $144.98.

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

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