US Bancorp DE Buys 763 Shares of Incyte Corporation (INCY)
US Bancorp DE increased its stake in Incyte Corporation (NASDAQ:INCY) by 26.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,694 shares of the biopharmaceutical company’s stock after buying an additional 763 shares during the period. US Bancorp DE’s holdings in Incyte Corporation were worth $465,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of Montreal Can increased its stake in shares of Incyte Corporation by 94.2% in the first quarter. Bank of Montreal Can now owns 153,717 shares of the biopharmaceutical company’s stock valued at $20,546,000 after buying an additional 74,580 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of Incyte Corporation during the first quarter valued at about $1,444,000. Gateway Investment Advisers LLC purchased a new stake in shares of Incyte Corporation during the first quarter valued at about $1,538,000. DnB Asset Management AS increased its stake in shares of Incyte Corporation by 14.8% in the first quarter. DnB Asset Management AS now owns 18,600 shares of the biopharmaceutical company’s stock valued at $2,486,000 after buying an additional 2,400 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of Incyte Corporation by 42.0% in the first quarter. Nisa Investment Advisors LLC now owns 28,960 shares of the biopharmaceutical company’s stock valued at $3,871,000 after buying an additional 8,560 shares during the last quarter. Institutional investors own 91.54% of the company’s stock.
Shares of Incyte Corporation (INCY) traded up 0.27% during trading on Friday, reaching $122.07. 423,614 shares of the company were exchanged. The stock’s market capitalization is $25.11 billion. Incyte Corporation has a 1-year low of $75.52 and a 1-year high of $153.15. The firm has a 50-day moving average price of $129.91 and a 200-day moving average price of $129.52.
Incyte Corporation (NASDAQ:INCY) last released its earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.01. The business had revenue of $326.40 million for the quarter, compared to analyst estimates of $318.45 million. Incyte Corporation had a negative return on equity of 21.57% and a negative net margin of 11.77%. Incyte Corporation’s quarterly revenue was up 32.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.18 earnings per share. Equities research analysts predict that Incyte Corporation will post ($0.86) earnings per share for the current fiscal year.
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Several analysts have issued reports on INCY shares. Zacks Investment Research downgraded shares of Incyte Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, April 25th. Cowen and Company reissued a “buy” rating on shares of Incyte Corporation in a research note on Friday, May 5th. BMO Capital Markets raised their price objective on shares of Incyte Corporation from $144.00 to $146.00 and gave the stock an “outperform” rating in a research note on Friday, May 5th. TheStreet downgraded shares of Incyte Corporation from a “c+” rating to a “d+” rating in a research note on Thursday, May 4th. Finally, Credit Suisse Group set a $152.00 price objective on shares of Incyte Corporation and gave the stock an “outperform” rating in a research note on Tuesday, May 9th. 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 presently has a consensus rating of “Buy” and a consensus price target of $140.16.
In other Incyte Corporation news, insider Paul Trower sold 3,000 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $125.25, for a total transaction of $375,750.00. Following the sale, the insider now directly owns 11,853 shares in the company, valued at approximately $1,484,588.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Eric H. Siegel sold 1,820 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $132.92, for a total transaction of $241,914.40. Following the sale, the executive vice president now owns 23,553 shares in the company, valued at $3,130,664.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,183 shares of company stock worth $5,976,946. 17.70% of the stock is owned by company insiders.
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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