Incyte Co. (INCY) Holdings Trimmed by Morgan Stanley

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Morgan Stanley decreased its holdings in Incyte Co. (NASDAQ:INCY) by 5.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 557,799 shares of the biopharmaceutical company’s stock after selling 32,138 shares during the quarter. Morgan Stanley owned 0.26% of Incyte worth $38,533,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Nisa Investment Advisors LLC grew its stake in shares of Incyte by 75.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 37,382 shares of the biopharmaceutical company’s stock valued at $2,582,000 after purchasing an additional 16,070 shares during the period. American Century Companies Inc. bought a new stake in shares of Incyte during the 3rd quarter valued at about $10,329,000. Verition Fund Management LLC grew its stake in shares of Incyte by 247.4% during the 2nd quarter. Verition Fund Management LLC now owns 20,377 shares of the biopharmaceutical company’s stock valued at $1,365,000 after purchasing an additional 14,511 shares during the period. Baird Financial Group Inc. grew its stake in shares of Incyte by 93.3% during the 2nd quarter. Baird Financial Group Inc. now owns 57,759 shares of the biopharmaceutical company’s stock valued at $3,870,000 after purchasing an additional 27,886 shares during the period. Finally, Standard Life Aberdeen plc grew its stake in shares of Incyte by 12.3% during the 3rd quarter. Standard Life Aberdeen plc now owns 46,161 shares of the biopharmaceutical company’s stock valued at $3,189,000 after purchasing an additional 5,056 shares during the period. 90.61% of the stock is owned by institutional investors and hedge funds.

INCY has been the subject of a number of recent research reports. BidaskClub upgraded Incyte from a “hold” rating to a “buy” rating in a research note on Tuesday, November 6th. Zacks Investment Research upgraded Incyte from a “hold” rating to a “buy” rating and set a $73.00 price objective for the company in a research note on Wednesday, October 10th. Raymond James reiterated a “buy” rating and set a $85.00 price objective on shares of Incyte in a research note on Thursday, October 25th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Incyte in a research note on Thursday. Finally, Cowen reiterated a “buy” rating on shares of Incyte in a research note on Tuesday, October 30th. Nine analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Incyte presently has a consensus rating of “Buy” and a consensus price target of $87.32.

In other Incyte news, insider Paul Trower sold 9,187 shares of the company’s stock in a transaction that occurred on Monday, January 7th. The stock was sold at an average price of $75.00, for a total value of $689,025.00. Following the completion of the transaction, the insider now directly owns 23,359 shares in the company, valued at approximately $1,751,925. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jean Jacques Bienaime purchased 1,000 shares of the company’s stock in a transaction on Thursday, November 8th. The stock was acquired at an average price of $68.77 per share, with a total value of $68,770.00. Following the completion of the purchase, the director now directly owns 6,168 shares in the company, valued at $424,173.36. The disclosure for this purchase can be found here. Insiders sold a total of 49,187 shares of company stock valued at $3,539,025 over the last 90 days. 17.20% of the stock is currently owned by corporate insiders.

INCY stock opened at $74.65 on Friday. Incyte Co. has a 1-year low of $57.00 and a 1-year high of $96.44. The company has a quick ratio of 4.01, a current ratio of 4.02 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $15.68 billion, a price-to-earnings ratio of 116.64 and a beta of 0.90.

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

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Incyte Company 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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