State of Tennessee Treasury Department cut its stake in shares of Incyte Corporation (NASDAQ:INCY) by 56.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,247 shares of the biopharmaceutical company’s stock after selling 59,272 shares during the period. State of Tennessee Treasury Department’s holdings in Incyte Corporation were worth $5,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Incyte Corporation by 11.1% in the second quarter. Vanguard Group Inc. now owns 17,125,542 shares of the biopharmaceutical company’s stock worth $2,156,276,000 after buying an additional 1,709,685 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Incyte Corporation by 4,570.1% in the second quarter. Janus Henderson Group PLC now owns 1,045,363 shares of the biopharmaceutical company’s stock worth $131,622,000 after buying an additional 1,022,979 shares during the period. Old Mutual Global Investors UK Ltd. raised its holdings in shares of Incyte Corporation by 374.4% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 930,319 shares of the biopharmaceutical company’s stock worth $108,605,000 after buying an additional 734,235 shares during the period. Jennison Associates LLC raised its holdings in shares of Incyte Corporation by 64.1% in the second quarter. Jennison Associates LLC now owns 1,313,982 shares of the biopharmaceutical company’s stock worth $165,443,000 after buying an additional 513,423 shares during the period. Finally, Matrix Capital Management Company LP raised its holdings in shares of Incyte Corporation by 28.3% in the second quarter. Matrix Capital Management Company LP now owns 1,796,716 shares of the biopharmaceutical company’s stock worth $226,225,000 after buying an additional 396,716 shares during the period. Institutional investors and hedge funds own 89.53% of the company’s stock.

Shares of Incyte Corporation (NASDAQ:INCY) opened at $105.12 on Wednesday. The company has a current ratio of 4.82, a quick ratio of 4.81 and a debt-to-equity ratio of 0.01. Incyte Corporation has a 52-week low of $98.49 and a 52-week high of $153.15.

Incyte Corporation (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.11. The firm had revenue of $381.50 million during the quarter, compared to analysts’ expectations of $360.34 million. Incyte Corporation had a negative return on equity of 12.91% and a negative net margin of 10.90%. The business’s quarterly revenue was up 41.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.19 EPS. sell-side analysts anticipate that Incyte Corporation will post -1.3 EPS for the current fiscal year.

INCY has been the topic of several recent analyst reports. J P Morgan Chase & Co reiterated a “buy” rating and issued a $149.00 price target on shares of Incyte Corporation in a report on Thursday, August 31st. BMO Capital Markets reiterated an “outperform” rating and issued a $172.00 price target on shares of Incyte Corporation in a report on Monday, August 28th. Jefferies Group LLC reiterated a “buy” rating on shares of Incyte Corporation in a report on Friday, October 6th. Raymond James Financial, Inc. upgraded Incyte Corporation from a “market perform” rating to an “outperform” rating and set a $159.00 price target on the stock in a report on Monday, September 11th. Finally, Goldman Sachs Group, Inc. (The) initiated coverage on Incyte Corporation in a report on Friday, October 6th. They issued a “buy” rating and a $160.00 price target on the stock. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Incyte Corporation has a consensus rating of “Buy” and an average target price of $144.98.

In other Incyte Corporation news, President Herve Hoppenot sold 70,502 shares of Incyte Corporation stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $119.45, for a total transaction of $8,421,463.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bros. Advisors Lp Baker purchased 100,000 shares of the stock in a transaction on Friday, September 8th. The shares were purchased at an average cost of $132.00 per share, with a total value of $13,200,000.00. The disclosure for this purchase can be found here. Insiders sold a total of 102,062 shares of company stock valued at $12,652,893 in the last three months. Insiders own 17.70% of the company’s stock.

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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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Institutional Ownership by Quarter for Incyte Corporation (NASDAQ:INCY)

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