Advent Capital Management DE lessened its stake in Incyte Co. (NASDAQ:INCY) by 21.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,500 shares of the biopharmaceutical company’s stock after selling 10,970 shares during the quarter. Advent Capital Management DE’s holdings in Incyte were worth $3,741,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. AMP Capital Investors Ltd increased its position in Incyte by 0.7% in the third quarter. AMP Capital Investors Ltd now owns 72,076 shares of the biopharmaceutical company’s stock worth $8,414,000 after purchasing an additional 500 shares during the last quarter. Amalgamated Bank increased its position in Incyte by 2.8% in the third quarter. Amalgamated Bank now owns 20,332 shares of the biopharmaceutical company’s stock worth $2,374,000 after purchasing an additional 561 shares during the last quarter. Addison Capital Co increased its position in Incyte by 9.5% in the fourth quarter. Addison Capital Co now owns 6,632 shares of the biopharmaceutical company’s stock worth $628,000 after purchasing an additional 574 shares during the last quarter. Synovus Financial Corp increased its position in Incyte by 6.4% in the third quarter. Synovus Financial Corp now owns 9,926 shares of the biopharmaceutical company’s stock worth $1,160,000 after purchasing an additional 593 shares during the last quarter. Finally, New Mexico Educational Retirement Board increased its position in Incyte by 3.8% in the fourth quarter. New Mexico Educational Retirement Board now owns 16,400 shares of the biopharmaceutical company’s stock worth $1,553,000 after purchasing an additional 600 shares during the last quarter. 89.43% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on INCY. Nomura restated a “buy” rating on shares of Incyte in a research report on Thursday, February 1st. Raymond James Financial set a $159.00 price target on shares of Incyte and gave the stock a “buy” rating in a research report on Wednesday. BMO Capital Markets restated a “buy” rating and issued a $172.00 price target on shares of Incyte in a research report on Wednesday, January 3rd. TheStreet cut shares of Incyte from a “c-” rating to a “d+” rating in a research report on Tuesday, December 5th. Finally, Royal Bank of Canada reduced their price target on shares of Incyte from $136.00 to $120.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 21st. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $142.94.
Incyte Co. (NASDAQ INCY) opened at $85.16 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.99 and a current ratio of 4.01. Incyte Co. has a 1 year low of $80.85 and a 1 year high of $153.15. The firm has a market cap of $17,970.00, a price-to-earnings ratio of -54.59 and a beta of 0.59.
Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Thursday, February 15th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.52) by $0.54. The business had revenue of $444.20 million for the quarter, compared to analysts’ expectations of $435.23 million. Incyte had a negative net margin of 20.38% and a negative return on equity of 11.85%. The business’s revenue was up 36.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.05 earnings per share. equities research analysts expect that Incyte Co. will post -0.27 EPS for the current fiscal year.
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Incyte 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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