Raymond James Financial Services Advisors Inc. Has $1.78 Million Stake in Incyte Co. (NASDAQ:INCY)

Raymond James Financial Services Advisors Inc. reduced its stake in shares of Incyte Co. (NASDAQ:INCYGet Rating) by 13.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,745 shares of the biopharmaceutical company’s stock after selling 4,159 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Incyte were worth $1,782,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Dodge & Cox raised its stake in Incyte by 11.1% during the second quarter. Dodge & Cox now owns 20,067,845 shares of the biopharmaceutical company’s stock worth $1,524,554,000 after acquiring an additional 2,007,555 shares in the last quarter. State Street Corp raised its stake in Incyte by 2.1% during the second quarter. State Street Corp now owns 9,452,876 shares of the biopharmaceutical company’s stock worth $718,135,000 after acquiring an additional 198,104 shares in the last quarter. Royal Bank of Canada raised its stake in Incyte by 117.4% during the first quarter. Royal Bank of Canada now owns 7,682,752 shares of the biopharmaceutical company’s stock worth $610,164,000 after acquiring an additional 4,148,559 shares in the last quarter. Renaissance Technologies LLC raised its stake in Incyte by 9.5% during the second quarter. Renaissance Technologies LLC now owns 5,142,733 shares of the biopharmaceutical company’s stock worth $390,693,000 after acquiring an additional 445,100 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Incyte by 0.9% during the second quarter. Northern Trust Corp now owns 1,997,901 shares of the biopharmaceutical company’s stock worth $151,780,000 after purchasing an additional 18,009 shares during the last quarter. 95.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

INCY has been the topic of several research analyst reports. Royal Bank of Canada increased their target price on Incyte from $77.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, November 2nd. Morgan Stanley increased their target price on Incyte from $76.00 to $77.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 2nd. Evercore ISI cut Incyte to an “in-line” rating in a report on Thursday, September 22nd. JPMorgan Chase & Co. decreased their target price on Incyte from $86.00 to $80.00 and set a “neutral” rating on the stock in a report on Monday, October 24th. Finally, StockNews.com cut Incyte from a “strong-buy” rating to a “buy” rating in a report on Friday, November 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $78.75.

Incyte Price Performance

Incyte stock opened at $82.27 on Thursday. The business’s 50-day simple moving average is $80.17 and its 200 day simple moving average is $75.68. The stock has a market cap of $18.30 billion, a price-to-earnings ratio of 20.93, a P/E/G ratio of 1.08 and a beta of 0.70. Incyte Co. has a 12-month low of $65.07 and a 12-month high of $84.86. The company has a quick ratio of 3.75, a current ratio of 3.80 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCYGet Rating) last posted its quarterly earnings results on Tuesday, November 1st. The biopharmaceutical company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.10). The firm had revenue of $823.30 million during the quarter, compared to the consensus estimate of $847.00 million. Incyte had a net margin of 26.30% and a return on equity of 9.04%. As a group, research analysts anticipate that Incyte Co. will post 2.14 earnings per share for the current year.

Insiders Place Their Bets

In other Incyte news, EVP Steven H. Stein sold 28,399 shares of the firm’s stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $79.78, for a total transaction of $2,265,672.22. Following the transaction, the executive vice president now owns 109,021 shares in the company, valued at $8,697,695.38. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Incyte news, EVP Vijay K. Iyengar sold 17,324 shares of the firm’s stock in a transaction dated Friday, December 23rd. The stock was sold at an average price of $80.80, for a total transaction of $1,399,779.20. Following the transaction, the executive vice president now owns 37,855 shares in the company, valued at $3,058,684. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Steven H. Stein sold 28,399 shares of the firm’s stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $79.78, for a total value of $2,265,672.22. Following the transaction, the executive vice president now owns 109,021 shares in the company, valued at approximately $8,697,695.38. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,946 shares of company stock worth $3,765,933. Insiders own 17.50% of the company’s stock.

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.

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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