Obermeyer Wood Investment Counsel Lllp Maintains Position in Incyte Corporation (NASDAQ:INCY)
Obermeyer Wood Investment Counsel Lllp maintained its stake in Incyte Corporation (NASDAQ:INCY) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,300 shares of the biopharmaceutical company’s stock at the end of the second quarter. Obermeyer Wood Investment Counsel Lllp’s holdings in Incyte Corporation were worth $793,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Conning Inc. purchased a new stake in Incyte Corporation during the second quarter valued at approximately $218,000. Pitcairn Co. raised its position in shares of Incyte Corporation by 18.9% in the second quarter. Pitcairn Co. now owns 5,117 shares of the biopharmaceutical company’s stock worth $644,000 after buying an additional 812 shares during the period. Rhumbline Advisers raised its position in shares of Incyte Corporation by 1.9% in the second quarter. Rhumbline Advisers now owns 344,467 shares of the biopharmaceutical company’s stock worth $43,372,000 after buying an additional 6,454 shares during the period. Teacher Retirement System of Texas raised its position in shares of Incyte Corporation by 2.8% in the second quarter. Teacher Retirement System of Texas now owns 4,855 shares of the biopharmaceutical company’s stock worth $611,000 after buying an additional 133 shares during the period. Finally, First Trust Advisors LP raised its position in shares of Incyte Corporation by 23.9% in the second quarter. First Trust Advisors LP now owns 572,165 shares of the biopharmaceutical company’s stock worth $72,041,000 after buying an additional 110,236 shares during the period. 91.54% of the stock is owned by hedge funds and other institutional investors.
Shares of Incyte Corporation (NASDAQ:INCY) opened at 124.10 on Monday. Incyte Corporation has a 12 month low of $75.52 and a 12 month high of $153.15. The company’s 50 day moving average is $130.96 and its 200-day moving average is $129.40. The company’s market cap is $25.53 billion.
Incyte Corporation (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $326.40 million during the quarter, compared to the consensus estimate of $318.45 million. During the same period last year, the company earned $0.18 earnings per share. Incyte Corporation’s revenue for the quarter was up 32.5% on a year-over-year basis. Analysts expect that Incyte Corporation will post ($0.89) EPS for the current fiscal year.
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INCY has been the topic of a number of research analyst reports. Piper Jaffray Companies reiterated a “neutral” rating and issued a $124.00 price target on shares of Incyte Corporation in a report on Monday, April 17th. Jefferies Group LLC reiterated a “buy” rating and issued a $148.00 price target (down previously from $165.00) on shares of Incyte Corporation in a report on Monday, April 17th. Raymond James Financial, Inc. reiterated a “hold” rating on shares of Incyte Corporation in a report on Monday, April 17th. Vetr upgraded shares of Incyte Corporation from a “buy” rating to a “strong-buy” rating and set a $151.58 price target on the stock in a report on Monday, April 17th. Finally, Goldman Sachs Group, Inc. (The) decreased their price target on shares of Incyte Corporation from $149.00 to $136.00 and set a “buy” rating on the stock in a report on Tuesday, April 18th. Seven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Incyte Corporation currently has a consensus rating of “Buy” and a consensus price target of $140.39.
In other news, CFO David W. Gryska sold 16,756 shares of the firm’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $116.60, for a total transaction of $1,953,749.60. Following the completion of the transaction, the chief financial officer now directly owns 35,771 shares of the company’s stock, valued at approximately $4,170,898.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul Trower sold 3,000 shares of the firm’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $132.50, for a total transaction of $397,500.00. Following the transaction, the insider now directly owns 13,950 shares of the company’s stock, valued at $1,848,375. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,183 shares of company stock valued at $5,976,946. Insiders own 17.70% of the company’s stock.
About Incyte Corporation
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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