Meeder Asset Management Inc. grew its position in Incyte Co. (NASDAQ:INCY) by 333.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,029 shares of the biopharmaceutical company’s stock after purchasing an additional 16,942 shares during the quarter. Meeder Asset Management Inc.’s holdings in Incyte were worth $1,896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its stake in shares of Incyte by 17.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,709 shares of the biopharmaceutical company’s stock valued at $465,000 after purchasing an additional 1,006 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Incyte by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 287,924 shares of the biopharmaceutical company’s stock valued at $19,889,000 after purchasing an additional 864 shares during the period. First Republic Investment Management Inc. bought a new stake in shares of Incyte in the 3rd quarter valued at approximately $233,000. Paloma Partners Management Co bought a new stake in shares of Incyte in the 3rd quarter valued at approximately $482,000. Finally, Pacer Advisors Inc. grew its stake in shares of Incyte by 43.5% in the 3rd quarter. Pacer Advisors Inc. now owns 21,300 shares of the biopharmaceutical company’s stock valued at $1,471,000 after purchasing an additional 6,459 shares during the period. Institutional investors and hedge funds own 91.59% of the company’s stock.
In other Incyte news, EVP Barry P. Flannelly sold 1,000 shares of the company’s stock in a transaction on Monday, January 28th. The stock was sold at an average price of $80.00, for a total transaction of $80,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Yao Wenqing sold 15,354 shares of the company’s stock in a transaction on Thursday, January 17th. The stock was sold at an average price of $77.61, for a total value of $1,191,623.94. Following the transaction, the executive vice president now directly owns 49,763 shares in the company, valued at approximately $3,862,106.43. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,354 shares of company stock worth $3,820,424. Company insiders own 17.10% of the company’s stock.
NASDAQ:INCY opened at $76.98 on Wednesday. Incyte Co. has a 52-week low of $57.00 and a 52-week high of $88.83. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.29 and a current ratio of 4.31. The firm has a market cap of $16.74 billion, a price-to-earnings ratio of 93.88 and a beta of 1.39.
Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Thursday, February 14th. The biopharmaceutical company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.15. Incyte had a return on equity of 6.17% and a net margin of 5.82%. The firm had revenue of $528.40 million for the quarter, compared to the consensus estimate of $485.72 million. During the same quarter in the prior year, the business earned $0.02 EPS. The business’s revenue for the quarter was up 19.0% compared to the same quarter last year. On average, analysts expect that Incyte Co. will post 1.4 earnings per share for the current year.
Several research firms have recently weighed in on INCY. Argus upped their price objective on Incyte from $83.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, February 25th. Royal Bank of Canada lowered Incyte from an “outperform” rating to a “sector perform” rating and set a $89.00 price objective on the stock. in a research note on Wednesday, April 3rd. They noted that the move was a valuation call. BidaskClub lowered Incyte from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. Oppenheimer set a $85.00 price target on Incyte and gave the stock a “hold” rating in a research report on Sunday, April 7th. Finally, Raymond James set a $100.00 price target on Incyte and gave the stock a “buy” rating in a research report on Friday, February 15th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Incyte has a consensus rating of “Buy” and an average target price of $90.42.
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Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.
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