Amalgamated Bank increased its position in Incyte Corporation (NASDAQ:INCY) by 57.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,771 shares of the biopharmaceutical company’s stock after buying an additional 7,253 shares during the period. Amalgamated Bank’s holdings in Incyte Corporation were worth $2,489,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of INCY. State Street Corp raised its position in shares of Incyte Corporation by 110.7% in the first quarter. State Street Corp now owns 7,581,684 shares of the biopharmaceutical company’s stock valued at $1,013,437,000 after buying an additional 3,983,207 shares during the last quarter. Vanguard Group Inc. increased its position in Incyte Corporation by 22.7% during the first quarter. Vanguard Group Inc. now owns 15,415,857 shares of the biopharmaceutical company’s stock worth $2,060,638,000 after purchasing an additional 2,847,907 shares during the last quarter. Victory Capital Management Inc. acquired a new position in Incyte Corporation during the first quarter worth approximately $85,751,000. Geode Capital Management LLC increased its position in Incyte Corporation by 42.0% during the first quarter. Geode Capital Management LLC now owns 1,780,064 shares of the biopharmaceutical company’s stock worth $237,618,000 after purchasing an additional 526,163 shares during the last quarter. Finally, Jennison Associates LLC increased its position in Incyte Corporation by 64.1% during the second quarter. Jennison Associates LLC now owns 1,313,982 shares of the biopharmaceutical company’s stock worth $165,443,000 after purchasing an additional 513,423 shares during the last quarter. 91.06% of the stock is owned by institutional investors and hedge funds.
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Several brokerages recently commented on INCY. TheStreet raised shares of Incyte Corporation from a “d+” rating to a “c” rating in a research report on Wednesday, May 24th. Cowen and Company reaffirmed a “buy” rating on shares of Incyte Corporation in a research report on Monday, June 5th. Credit Suisse Group reaffirmed a “buy” rating on shares of Incyte Corporation in a research report on Saturday, June 10th. Oppenheimer Holdings, Inc. set a $135.00 price target on shares of Incyte Corporation and gave the stock a “hold” rating in a research report on Tuesday, June 6th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $166.00 price target (up previously from $155.00) on shares of Incyte Corporation in a research report on Monday, June 5th. Eight research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Incyte Corporation has an average rating of “Buy” and a consensus target price of $142.16.
In related news, EVP Barry P. Flannelly sold 714 shares of Incyte Corporation stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $124.25, for a total value of $88,714.50. Following the completion of the transaction, the executive vice president now directly owns 15,496 shares of the company’s stock, valued at $1,925,378. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Steven H. Stein sold 9,883 shares of Incyte Corporation stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $125.00, for a total value of $1,235,375.00. Following the completion of the transaction, the executive vice president now directly owns 18,518 shares of the company’s stock, valued at $2,314,750. The disclosure for this sale can be found here. Insiders sold 54,252 shares of company stock valued at $7,206,984 over the last ninety days. 17.70% of the stock is currently owned by company insiders.
Incyte Corporation (INCY) opened at 119.15 on Friday. The firm’s market cap is $24.51 billion. The firm’s 50-day moving average is $127.40 and its 200 day moving average is $130.21. Incyte Corporation has a 1-year low of $81.49 and a 1-year high of $153.15.
Incyte Corporation (NASDAQ:INCY) last issued its earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.01). Incyte Corporation had a negative net margin of 11.77% and a negative return on equity of 21.57%. The firm had revenue of $326.40 million during the quarter, compared to analyst estimates of $318.45 million. During the same quarter in the prior year, the firm posted $0.18 EPS. The firm’s revenue for the quarter was up 32.5% on a year-over-year basis. On average, equities analysts forecast that Incyte Corporation will post ($0.84) earnings per share for the current fiscal year.
Incyte Corporation 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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