ProShare Advisors LLC Has $23.65 Million Position in Incyte Corporation (INCY)
ProShare Advisors LLC increased its stake in shares of Incyte Corporation (NASDAQ:INCY) by 18.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 187,793 shares of the biopharmaceutical company’s stock after acquiring an additional 28,873 shares during the period. ProShare Advisors LLC owned about 0.09% of Incyte Corporation worth $23,645,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INCY. State Street Corp raised its holdings in Incyte Corporation by 110.7% during the first quarter. State Street Corp now owns 7,581,684 shares of the biopharmaceutical company’s stock worth $1,013,437,000 after acquiring an additional 3,983,207 shares in the last quarter. Vanguard Group Inc. raised its holdings 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 acquiring an additional 2,847,907 shares in the last quarter. Victory Capital Management Inc. bought a new stake in Incyte Corporation during the first quarter worth about $85,751,000. Geode Capital Management LLC raised its holdings 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 acquiring an additional 526,163 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings 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 acquiring an additional 513,423 shares in the last quarter. Institutional investors and hedge funds own 91.06% of the company’s stock.
Several analysts recently issued reports on INCY shares. Cowen and Company reiterated a “buy” rating on shares of Incyte Corporation in a report on Monday, June 5th. BidaskClub upgraded Incyte Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Jefferies Group LLC reiterated a “buy” rating and set a $148.00 target price on shares of Incyte Corporation in a report on Tuesday, June 20th. Credit Suisse Group reiterated a “buy” rating on shares of Incyte Corporation in a report on Saturday, June 10th. Finally, Gabelli reiterated a “buy” rating and set a $174.00 target price on shares of Incyte Corporation in a report on Wednesday, June 28th. Eight research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $142.16.
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In related news, EVP Steven H. Stein sold 9,883 shares of Incyte Corporation stock in a transaction that occurred on 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 sale, the executive vice president now owns 18,518 shares of the company’s stock, valued at approximately $2,314,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Barry P. Flannelly sold 714 shares of Incyte Corporation stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $124.25, for a total transaction of $88,714.50. Following the completion of the sale, the executive vice president now directly owns 15,496 shares in the company, valued at approximately $1,925,378. The disclosure for this sale can be found here. Insiders sold a total of 54,252 shares of company stock worth $7,206,984 in the last ninety days. 17.70% of the stock is currently owned by insiders.
Shares of Incyte Corporation (NASDAQ INCY) traded down 0.51% during midday trading on Friday, reaching $119.15. The company had a trading volume of 2,995,901 shares. The company has a 50 day moving average price of $127.40 and a 200-day moving average price of $130.21. Incyte Corporation has a one year low of $81.49 and a one year high of $153.15. The firm’s market capitalization is $24.51 billion.
Incyte Corporation (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The company had revenue of $326.40 million during the quarter, compared to the consensus estimate of $318.45 million. Incyte Corporation had a negative return on equity of 21.57% and a negative net margin of 11.77%. The company’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same period last year, the firm posted $0.18 EPS. On average, analysts anticipate that Incyte Corporation will post ($0.84) EPS 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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