Grandfield & Dodd LLC boosted its stake in shares of Incyte Corp. (NASDAQ:INCY) by 3.2% during the second quarter, Holdings Channel reports. The institutional investor owned 6,433 shares of the biopharmaceutical company’s stock after buying an additional 199 shares during the period. Grandfield & Dodd LLC’s holdings in Incyte Corp. were worth $515,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Capital Fund Management S.A. purchased a new position in Incyte Corp. during the second quarter valued at $33,288,000. RTW Investments LLC purchased a new position in Incyte Corp. during the first quarter valued at $27,496,000. Royal Bank of Canada increased its position in Incyte Corp. by 119.9% in the first quarter. Royal Bank of Canada now owns 621,527 shares of the biopharmaceutical company’s stock valued at $45,042,000 after buying an additional 338,904 shares in the last quarter. State Street Corp increased its position in Incyte Corp. by 10.2% in the first quarter. State Street Corp now owns 3,398,252 shares of the biopharmaceutical company’s stock valued at $246,259,000 after buying an additional 314,869 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Incyte Corp. during the first quarter valued at $22,031,000. 92.32% of the stock is owned by institutional investors.
Shares of Incyte Corp. (NASDAQ:INCY) traded up 1.61% during midday trading on Wednesday, reaching $95.69. The company’s stock had a trading volume of 1,084,690 shares. The stock has a market capitalization of $17.99 billion, a P/E ratio of 260.03 and a beta of 0.54. The stock’s 50-day moving average is $83.74 and its 200 day moving average is $80.46. Incyte Corp. has a 12 month low of $55.00 and a 12 month high of $124.98.
Incyte Corp. (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.20. Incyte Corp. had a return on equity of 37.76% and a net margin of 7.87%. The business had revenue of $208 million for the quarter, compared to the consensus estimate of $236.91 million. During the same quarter in the previous year, the company posted $0.05 earnings per share. Incyte Corp.’s revenue for the quarter was up 51.1% compared to the same quarter last year. On average, analysts expect that Incyte Corp. will post $0.20 earnings per share for the current fiscal year.
A number of equities analysts have recently commented on the company. Zacks Investment Research raised Incyte Corp. from a “hold” rating to a “buy” rating and set a $107.00 price objective for the company in a research report on Tuesday. Leerink Swann boosted their target price on Incyte Corp. from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Monday. Piper Jaffray Cos. set a $99.00 target price on Incyte Corp. and gave the stock a “buy” rating in a research note on Wednesday, September 28th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Incyte Corp. in a research note on Wednesday, September 28th. Finally, Raymond James Financial Inc. upgraded Incyte Corp. from a “market perform” rating to an “outperform” rating and set a $115.00 price objective for the company in a research note on Thursday, September 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $105.70.
In related news, EVP Paula J. Swain sold 60,000 shares of Incyte Corp. stock in a transaction on Friday, July 29th. The stock was sold at an average price of $90.00, for a total transaction of $5,400,000.00. Following the completion of the sale, the executive vice president now owns 89,248 shares of the company’s stock, valued at $8,032,320. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Paula J. Swain sold 20,000 shares of Incyte Corp. stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $90.00, for a total value of $1,800,000.00. Following the sale, the executive vice president now directly owns 49,248 shares of the company’s stock, valued at approximately $4,432,320. The disclosure for this sale can be found here. Insiders own 13.70% of the company’s stock.
About Incyte Corp.
Incyte Corporation is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapeutics to treat medical needs, primarily in oncology. The Company focuses on the research and development program to explore the inhibition of enzymes called janus associated kinases (JAK).
Want to see what other hedge funds are holding INCY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Incyte Corp. (NASDAQ:INCY).
Receive News & Ratings for Incyte Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte Corp. and related companies with MarketBeat.com's FREE daily email newsletter.