Panagora Asset Management Inc. Has $45.54 Million Stake in Incyte Co. (NASDAQ:INCY)

Panagora Asset Management Inc. trimmed its holdings in shares of Incyte Co. (NASDAQ:INCY) by 4.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 560,292 shares of the biopharmaceutical company’s stock after selling 28,926 shares during the quarter. Panagora Asset Management Inc.’s holdings in Incyte were worth $45,535,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Manning & Napier Group LLC increased its position in Incyte by 6.0% during the first quarter. Manning & Napier Group LLC now owns 499,981 shares of the biopharmaceutical company’s stock worth $40,632,000 after buying an additional 28,458 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Incyte by 23.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 90,220 shares of the biopharmaceutical company’s stock valued at $7,847,000 after acquiring an additional 17,388 shares during the period. Bank of Nova Scotia boosted its holdings in Incyte by 6.9% during the first quarter. Bank of Nova Scotia now owns 40,669 shares of the biopharmaceutical company’s stock valued at $3,305,000 after acquiring an additional 2,623 shares during the period. Girard Partners LTD. boosted its holdings in Incyte by 46.7% during the first quarter. Girard Partners LTD. now owns 19,846 shares of the biopharmaceutical company’s stock valued at $1,612,000 after acquiring an additional 6,315 shares during the period. Finally, Country Trust Bank boosted its holdings in Incyte by 41.2% during the first quarter. Country Trust Bank now owns 383,945 shares of the biopharmaceutical company’s stock valued at $31,203,000 after acquiring an additional 111,991 shares during the period. 91.12% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently weighed in on INCY shares. TheStreet cut shares of Incyte from a “b-” rating to a “c” rating in a research note on Monday, March 15th. Morgan Stanley reduced their target price on shares of Incyte from $86.00 to $85.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. Incyte currently has an average rating of “Hold” and an average price target of $97.00.

In other news, EVP Michael James Morrissey sold 20,000 shares of Incyte stock in a transaction on Monday, March 29th. The shares were sold at an average price of $81.08, for a total transaction of $1,621,600.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Dashyant Dhanak sold 396 shares of Incyte stock in a transaction on Thursday, April 1st. The stock was sold at an average price of $81.57, for a total transaction of $32,301.72. The disclosure for this sale can be found here. Company insiders own 15.80% of the company’s stock.

INCY traded down $3.58 during midday trading on Friday, reaching $83.95. 5,407 shares of the company’s stock were exchanged, compared to its average volume of 1,224,871. The company has a market cap of $18.46 billion, a price-to-earnings ratio of 40.34, a price-to-earnings-growth ratio of 1.08 and a beta of 0.81. The company’s 50-day moving average is $83.15. The company has a quick ratio of 3.90, a current ratio of 3.93 and a debt-to-equity ratio of 0.01. Incyte Co. has a one year low of $75.52 and a one year high of $110.36.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, May 4th. The biopharmaceutical company reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.25. The company had revenue of $604.72 million during the quarter, compared to analyst estimates of $657.73 million. Incyte had a net margin of 17.70% and a return on equity of 20.10%. The company’s revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the business posted ($2.86) earnings per share. Analysts predict that Incyte Co. will post 2.2 EPS for the current fiscal year.

About Incyte

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States and internationally. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor for the treatment of adults; and ICLUSIG, a kinase inhibitor to treat 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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