Massachusetts Financial Services Co. MA Lowers Stake in Incyte Co. (NASDAQ:INCY)

Massachusetts Financial Services Co. MA reduced its holdings in shares of Incyte Co. (NASDAQ:INCYGet Rating) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 126,375 shares of the biopharmaceutical company’s stock after selling 3,996 shares during the period. Massachusetts Financial Services Co. MA owned 0.06% of Incyte worth $9,277,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dark Forest Capital Management LP purchased a new position in Incyte during the 3rd quarter valued at about $33,000. AlphaMark Advisors LLC bought a new stake in Incyte during the 4th quarter valued at about $35,000. Desjardins Global Asset Management Inc. bought a new stake in Incyte during the 4th quarter valued at about $43,000. Lindbrook Capital LLC increased its stake in Incyte by 577.5% during the 4th quarter. Lindbrook Capital LLC now owns 603 shares of the biopharmaceutical company’s stock valued at $44,000 after purchasing an additional 514 shares in the last quarter. Finally, National Bank of Canada FI bought a new stake in Incyte during the 4th quarter valued at about $44,000. 92.78% of the stock is owned by institutional investors.

INCY opened at $75.51 on Wednesday. The company has a current ratio of 3.71, a quick ratio of 3.67 and a debt-to-equity ratio of 0.01. The company has a market cap of $16.73 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 0.90 and a beta of 0.71. The company’s 50 day moving average is $77.41 and its 200 day moving average is $72.55. Incyte Co. has a 12-month low of $61.91 and a 12-month high of $88.26.

Incyte (NASDAQ:INCYGet Rating) last posted its quarterly earnings data on Tuesday, May 3rd. The biopharmaceutical company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. Incyte had a net margin of 29.95% and a return on equity of 12.77%. The company had revenue of $733.20 million for the quarter, compared to the consensus estimate of $753.54 million. During the same quarter last year, the firm posted $0.50 earnings per share. The firm’s revenue was up 21.3% compared to the same quarter last year. As a group, analysts predict that Incyte Co. will post 2.31 EPS for the current fiscal year.

In other news, EVP Barry P. Flannelly sold 43,993 shares of the business’s stock in a transaction on Friday, April 8th. The shares were sold at an average price of $83.49, for a total value of $3,672,975.57. Following the transaction, the executive vice president now owns 65,163 shares of the company’s stock, valued at $5,440,458.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bros. Advisors Lp Baker bought 292,972 shares of the stock in a transaction dated Thursday, February 17th. The stock was bought at an average cost of $67.74 per share, for a total transaction of $19,845,923.28. The disclosure for this purchase can be found here. Insiders have acquired 711,335 shares of company stock worth $49,689,821 in the last ninety days. Insiders own 15.80% of the company’s stock.

INCY has been the subject of a number of analyst reports. SVB Leerink lowered shares of Incyte from a “market perform” rating to an “underperform” rating and reduced their price objective for the company from $60.00 to $56.00 in a research note on Wednesday, February 9th. Royal Bank of Canada upgraded shares of Incyte from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $78.00 to $90.00 in a research note on Tuesday, January 18th. Zacks Investment Research upgraded shares of Incyte from a “sell” rating to a “hold” rating and set a $85.00 price objective for the company in a research note on Tuesday, April 5th. Stifel Nicolaus raised their price objective on shares of Incyte from $75.00 to $77.00 in a research note on Tuesday, May 3rd. Finally, StockNews.com lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Saturday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $86.92.

Incyte Profile (Get Rating)

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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