SG Americas Securities LLC Acquires 89,214 Shares of Incyte Co. (NASDAQ:INCY)

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SG Americas Securities LLC raised its holdings in Incyte Co. (NASDAQ:INCY) by 406.0% during the third quarter, HoldingsChannel.com reports. The fund owned 111,187 shares of the biopharmaceutical company’s stock after purchasing an additional 89,214 shares during the period. SG Americas Securities LLC’s holdings in Incyte were worth $8,253,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in INCY. Commonwealth Bank of Australia grew its holdings in shares of Incyte by 49.2% during the second quarter. Commonwealth Bank of Australia now owns 376 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 124 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Incyte by 1.2% during the third quarter. Janney Montgomery Scott LLC now owns 10,254 shares of the biopharmaceutical company’s stock worth $761,000 after purchasing an additional 126 shares during the last quarter. Securian Asset Management Inc grew its holdings in shares of Incyte by 0.7% during the second quarter. Securian Asset Management Inc now owns 18,419 shares of the biopharmaceutical company’s stock worth $1,565,000 after purchasing an additional 133 shares during the last quarter. LS Investment Advisors LLC grew its holdings in shares of Incyte by 2.7% during the third quarter. LS Investment Advisors LLC now owns 6,504 shares of the biopharmaceutical company’s stock worth $483,000 after purchasing an additional 172 shares during the last quarter. Finally, World Asset Management Inc grew its holdings in shares of Incyte by 1.5% during the second quarter. World Asset Management Inc now owns 11,545 shares of the biopharmaceutical company’s stock worth $981,000 after purchasing an additional 174 shares during the last quarter. Hedge funds and other institutional investors own 91.70% of the company’s stock.

INCY has been the topic of several analyst reports. JMP Securities upped their target price on Incyte from $107.00 to $110.00 and gave the company a “market outperform” rating in a report on Monday, September 30th. Oppenheimer upgraded Incyte from a “market perform” rating to an “outperform” rating and upped their target price for the company from $85.00 to $100.00 in a report on Thursday, September 5th. They noted that the move was a valuation call. Mizuho reiterated a “buy” rating and issued a $95.00 target price on shares of Incyte in a report on Tuesday, October 29th. BMO Capital Markets initiated coverage on Incyte in a report on Thursday, September 12th. They issued a “market perform” rating and a $85.00 target price on the stock. Finally, BidaskClub upgraded Incyte from a “sell” rating to a “hold” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Incyte presently has a consensus rating of “Buy” and an average price target of $92.90.

INCY traded up $2.34 during trading on Friday, hitting $85.10. The company’s stock had a trading volume of 870,200 shares, compared to its average volume of 1,276,004. The stock’s fifty day moving average price is $78.24 and its 200-day moving average price is $80.22. Incyte Co. has a twelve month low of $57.00 and a twelve month high of $89.30. The firm has a market capitalization of $18.12 billion, a P/E ratio of 103.78, a PEG ratio of 1.23 and a beta of 0.99. The company has a quick ratio of 5.01, a current ratio of 5.02 and a debt-to-equity ratio of 0.02.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.27. Incyte had a return on equity of 20.07% and a net margin of 19.21%. The business had revenue of $551.58 million during the quarter, compared to the consensus estimate of $534.73 million. During the same quarter in the prior year, the company posted $0.41 earnings per share. Incyte’s revenue was up 22.7% compared to the same quarter last year. Equities research analysts expect that Incyte Co. will post 2.14 EPS for the current fiscal year.

In other Incyte news, Director Wendy L. Dixon sold 10,576 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $84.16, for a total value of $890,076.16. Following the completion of the transaction, the director now owns 22,916 shares in the company, valued at approximately $1,928,610.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Wendy L. Dixon sold 41,218 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $83.87, for a total value of $3,456,953.66. Following the completion of the transaction, the director now owns 22,916 shares of the company’s stock, valued at approximately $1,921,964.92. The disclosure for this sale can be found here. Insiders sold a total of 94,294 shares of company stock valued at $7,849,355 in the last 90 days. Corporate insiders own 17.10% of the company’s stock.

About Incyte

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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Want to see what other hedge funds are holding INCY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Incyte Co. (NASDAQ:INCY).

Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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