State Board of Administration of Florida Retirement System boosted its stake in Incyte Co. (NASDAQ:INCY) by 0.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 242,020 shares of the biopharmaceutical company’s stock after purchasing an additional 779 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.11% of Incyte worth $16,719,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. NuWave Investment Management LLC lifted its stake in Incyte by 19,237.5% in the 3rd quarter. NuWave Investment Management LLC now owns 1,547 shares of the biopharmaceutical company’s stock worth $107,000 after purchasing an additional 1,539 shares in the last quarter. Resources Investment Advisors Inc. lifted its stake in Incyte by 93.8% in the 2nd quarter. Resources Investment Advisors Inc. now owns 1,738 shares of the biopharmaceutical company’s stock worth $116,000 after purchasing an additional 841 shares in the last quarter. First Mercantile Trust Co. lifted its stake in Incyte by 75.8% in the 2nd quarter. First Mercantile Trust Co. now owns 2,157 shares of the biopharmaceutical company’s stock worth $145,000 after purchasing an additional 930 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in Incyte in the 2nd quarter worth $161,000. Finally, Seven Eight Capital LP purchased a new stake in Incyte in the 3rd quarter worth $202,000. Institutional investors and hedge funds own 92.03% of the company’s stock.

Shares of NASDAQ:INCY opened at $66.03 on Friday. The stock has a market cap of $14.69 billion, a P/E ratio of 103.17 and a beta of 1.12. Incyte Co. has a 12 month low of $58.33 and a 12 month high of $108.25. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.01 and a current ratio of 4.02.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, October 30th. The biopharmaceutical company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.02). The firm had revenue of $449.68 million for the quarter, compared to the consensus estimate of $448.34 million. Incyte had a negative net margin of 6.07% and a positive return on equity of 2.23%. The business’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.19 earnings per share. On average, equities analysts forecast that Incyte Co. will post 0.43 EPS for the current year.

Several analysts have commented on INCY shares. BidaskClub upgraded shares of Incyte from a “hold” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research upgraded shares of Incyte from a “hold” rating to a “buy” rating and set a $73.00 target price on the stock in a report on Wednesday, October 10th. Raymond James restated a “buy” rating and issued a $85.00 target price on shares of Incyte in a report on Thursday, October 25th. Cowen restated a “buy” rating on shares of Incyte in a report on Tuesday, October 30th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Incyte in a report on Saturday, September 15th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Incyte has an average rating of “Buy” and a consensus target price of $94.48.

In related news, Director Jean Jacques Bienaime bought 1,000 shares of the company’s stock in a transaction on Thursday, November 8th. The shares were acquired at an average cost of $68.77 per share, for a total transaction of $68,770.00. Following the purchase, the director now directly owns 6,168 shares of the company’s stock, valued at $424,173.36. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Paula J. Swain sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $70.00, for a total transaction of $700,000.00. Following the completion of the transaction, the executive vice president now owns 42,324 shares in the company, valued at $2,962,680. The disclosure for this sale can be found here. Insiders have sold a total of 31,000 shares of company stock worth $2,202,100 over the last quarter. 17.20% of the stock is currently owned by insiders.

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Incyte Profile

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States. It offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and ICLUSIG, a kinase inhibitor for the treatment of chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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