AGF Investments LLC Takes Position in Incyte Co. (NASDAQ:INCY)

AGF Investments LLC purchased a new stake in shares of Incyte Co. (NASDAQ:INCYGet Rating) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,871 shares of the biopharmaceutical company’s stock, valued at approximately $943,000.

Several other hedge funds have also added to or reduced their stakes in INCY. BlackRock Inc. lifted its holdings in Incyte by 5.3% in the fourth quarter. BlackRock Inc. now owns 18,336,658 shares of the biopharmaceutical company’s stock valued at $1,345,912,000 after buying an additional 924,880 shares during the period. State Street Corp boosted its position in shares of Incyte by 4.3% in the 4th quarter. State Street Corp now owns 9,347,709 shares of the biopharmaceutical company’s stock worth $686,122,000 after purchasing an additional 388,337 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Incyte by 838.8% during the fourth quarter. Marshall Wace LLP now owns 408,989 shares of the biopharmaceutical company’s stock worth $30,018,000 after purchasing an additional 365,425 shares during the period. Teachers Retirement System of The State of Kentucky increased its holdings in Incyte by 2,118.2% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 303,900 shares of the biopharmaceutical company’s stock valued at $22,307,000 after purchasing an additional 290,200 shares during the last quarter. Finally, Woodline Partners LP bought a new position in Incyte during the fourth quarter worth about $20,169,000. Institutional investors own 92.78% of the company’s stock.

Incyte Stock Down 1.0 %

NASDAQ INCY traded down $0.76 during trading on Wednesday, hitting $74.20. The stock had a trading volume of 10,313 shares, compared to its average volume of 1,426,249. Incyte Co. has a 12 month low of $61.91 and a 12 month high of $84.86. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.85 and a current ratio of 3.91. The company’s 50-day moving average price is $76.05 and its two-hundred day moving average price is $75.22. The company has a market capitalization of $16.50 billion, a PE ratio of 17.47, a P/E/G ratio of 1.22 and a beta of 0.64.

Incyte (NASDAQ:INCYGet Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The biopharmaceutical company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.22. The business had revenue of $911.40 million for the quarter, compared to analyst estimates of $818.25 million. Incyte had a net margin of 28.46% and a return on equity of 13.02%. The firm’s revenue for the quarter was up 29.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.65 earnings per share. As a group, sell-side analysts forecast that Incyte Co. will post 2.46 EPS for the current year.

Analyst Ratings Changes

INCY has been the subject of a number of recent analyst reports. Evercore ISI cut Incyte from an “outperform” rating to an “inline” rating and lowered their price target for the company from $90.00 to $78.00 in a research note on Wednesday, August 3rd. Guggenheim cut shares of Incyte to a “neutral” rating in a research report on Tuesday, August 9th. TheStreet upgraded shares of Incyte from a “c” rating to a “b” rating in a research report on Tuesday, August 2nd. Oppenheimer dropped their price objective on Incyte from $109.00 to $98.00 in a research note on Wednesday, August 3rd. Finally, Wells Fargo & Company assumed coverage on Incyte in a research note on Thursday, July 28th. They issued an “equal weight” rating and a $76.00 target price for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $84.92.

Insiders Place Their Bets

In other Incyte news, insider Thomas Tray sold 1,564 shares of the firm’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $83.13, for a total value of $130,015.32. Following the completion of the transaction, the insider now directly owns 17,702 shares in the company, valued at $1,471,567.26. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Thomas Tray sold 1,564 shares of the business’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 in the company, valued at $1,471,567.26. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Vijay K. Iyengar sold 5,787 shares of the 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 completion of the sale, the executive vice president now owns 40,313 shares of the company’s stock, valued at approximately $3,200,045.94. The disclosure for this sale can be found here. 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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