Parametric Portfolio Associates LLC boosted its stake in Incyte Co. (NASDAQ:INCY) by 4.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 465,181 shares of the biopharmaceutical company’s stock after acquiring an additional 21,715 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in Incyte were worth $34,530,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of INCY. Invesco Ltd. grew its stake in shares of Incyte by 76.2% during the second quarter. Invesco Ltd. now owns 5,210,785 shares of the biopharmaceutical company’s stock worth $442,708,000 after buying an additional 2,252,891 shares during the last quarter. Nuveen Asset Management LLC raised its position in 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 purchasing an additional 2,149,784 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Incyte by 133.3% during the second quarter. Renaissance Technologies LLC now owns 1,962,310 shares of the biopharmaceutical company’s stock valued at $166,718,000 after purchasing an additional 1,121,310 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of Incyte by 115,574.2% during the second quarter. Bessemer Group Inc. now owns 564,490 shares of the biopharmaceutical company’s stock valued at $47,959,000 after purchasing an additional 564,002 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Incyte by 217.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 477,984 shares of the biopharmaceutical company’s stock worth $35,481,000 after purchasing an additional 327,456 shares during the last quarter. Hedge funds and other institutional investors own 91.10% of the company’s stock.
In other Incyte news, EVP Yao Wenqing sold 2,040 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $85.00, for a total transaction of $173,400.00. Following the completion of the transaction, the executive vice president now directly owns 47,348 shares of the company’s stock, valued at $4,024,580. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul Trower sold 15,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $93.76, for a total value of $1,406,400.00. Insiders sold a total of 111,436 shares of company stock worth $9,462,285 in the last ninety days. 17.10% of the stock is currently owned by insiders.
Shares of INCY stock opened at $94.47 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.01 and a current ratio of 5.02. The firm has a market cap of $20.28 billion, a price-to-earnings ratio of 47.08, a P/E/G ratio of 1.37 and a beta of 1.00. Incyte Co. has a 52 week low of $57.00 and a 52 week high of $95.36. The firm’s 50-day simple moving average is $84.68 and its two-hundred day simple moving average is $81.54.
Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.27. Incyte had a net margin of 19.21% and a return on equity of 20.07%. The firm had revenue of $551.58 million during the quarter, compared to the consensus estimate of $534.73 million. During the same period in the prior year, the firm earned $0.41 EPS. The company’s revenue was up 22.7% compared to the same quarter last year. Analysts forecast that Incyte Co. will post 2.14 earnings per share for the current year.
Several research analysts recently issued reports on INCY shares. BidaskClub raised Incyte from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Morgan Stanley increased their price objective on shares of Incyte from $82.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 5th. Guggenheim set a $101.00 target price on shares of Incyte and gave the stock a “buy” rating in a research note on Friday, September 27th. Cowen restated a “buy” rating on shares of Incyte in a report on Friday, September 27th. Finally, Mizuho restated a “buy” rating and issued a $98.00 target price on shares of Incyte in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Incyte currently has a consensus rating of “Buy” and a consensus price target of $93.05.
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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