Incyte Co. (NASDAQ:INCY) Shares Purchased by DnB Asset Management AS

DnB Asset Management AS lifted its stake in Incyte Co. (NASDAQ:INCYGet Rating) by 8.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 33,941 shares of the biopharmaceutical company’s stock after acquiring an additional 2,719 shares during the quarter. DnB Asset Management AS’s holdings in Incyte were worth $2,578,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in INCY. Parkside Financial Bank & Trust lifted its holdings in Incyte by 91.0% during the 1st quarter. Parkside Financial Bank & Trust now owns 447 shares of the biopharmaceutical company’s stock worth $36,000 after buying an additional 213 shares in the last quarter. Glassman Wealth Services lifted its holdings in Incyte by 52.1% during the 4th quarter. Glassman Wealth Services now owns 502 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 172 shares in the last quarter. Ellevest Inc. lifted its holdings in Incyte by 210.1% during the 1st quarter. Ellevest Inc. now owns 673 shares of the biopharmaceutical company’s stock worth $53,000 after buying an additional 456 shares in the last quarter. CKW Financial Group lifted its holdings in Incyte by 33.3% during the 1st quarter. CKW Financial Group now owns 800 shares of the biopharmaceutical company’s stock worth $64,000 after buying an additional 200 shares in the last quarter. Finally, Tobam lifted its holdings in Incyte by 53.3% during the 1st quarter. Tobam now owns 892 shares of the biopharmaceutical company’s stock worth $71,000 after buying an additional 310 shares in the last quarter. 94.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Incyte

In other Incyte news, insider Thomas Tray sold 1,564 shares of the firm’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $83.13, for a total transaction of $130,015.32. Following the transaction, the insider now directly owns 17,702 shares of the company’s stock, valued at approximately $1,471,567.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Incyte news, EVP Vijay K. Iyengar sold 5,787 shares of the firm’s stock in a transaction on Thursday, July 7th. The shares were sold at an average price of $79.38, for a total transaction of $459,372.06. Following the transaction, the executive vice president now directly owns 40,313 shares of the company’s stock, valued at approximately $3,200,045.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas Tray sold 1,564 shares of the firm’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $83.13, for a total transaction of $130,015.32. Following the transaction, the insider now directly owns 17,702 shares in the company, valued at $1,471,567.26. The disclosure for this sale can be found here. Insiders own 17.50% of the company’s stock.

Incyte Trading Down 0.8 %

NASDAQ INCY opened at $68.26 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.91 and a quick ratio of 3.85. The firm’s fifty day moving average price is $74.33 and its 200 day moving average price is $75.52. The company has a market capitalization of $15.18 billion, a price-to-earnings ratio of 16.06, a price-to-earnings-growth ratio of 1.12 and a beta of 0.66. Incyte Co. has a 12 month low of $61.91 and a 12 month high of $84.86.

Incyte (NASDAQ:INCYGet Rating) last posted its earnings results on Tuesday, August 2nd. The biopharmaceutical company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.22. The firm had revenue of $911.40 million for the quarter, compared to the consensus estimate of $818.25 million. Incyte had a net margin of 28.46% and a return on equity of 13.02%. The company’s revenue was up 29.1% on a year-over-year basis. During the same period last year, the firm posted $0.65 EPS. On average, sell-side analysts expect that Incyte Co. will post 2.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on INCY. Morgan Stanley reduced their target price on shares of Incyte from $77.00 to $76.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 3rd. Guggenheim downgraded shares of Incyte to a “neutral” rating in a research report on Tuesday, August 9th. TheStreet downgraded shares of Incyte from a “b” rating to a “c+” rating in a research report on Monday, August 22nd. StockNews.com raised shares of Incyte from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 30th. Finally, Evercore ISI downgraded shares of Incyte from an “outperform” rating to an “inline” rating and dropped their price objective for the company from $90.00 to $78.00 in a research report on Wednesday, August 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Incyte has a consensus rating of “Hold” and an average price target of $84.92.

Incyte Company Profile

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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; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in various liquid and solid tumor types; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

See Also

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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