Incyte Corporation (INCY) Shares Bought by Fjarde AP Fonden Fourth Swedish National Pension Fund
Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Incyte Corporation (NASDAQ:INCY) by 18.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,604 shares of the biopharmaceutical company’s stock after buying an additional 6,046 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Incyte Corporation were worth $4,987,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of INCY. State Street Corp raised its stake in shares of Incyte Corporation by 110.7% in the first quarter. State Street Corp now owns 7,581,684 shares of the biopharmaceutical company’s stock worth $1,013,437,000 after buying an additional 3,983,207 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Incyte Corporation by 22.7% in the first quarter. Vanguard Group Inc. now owns 15,415,857 shares of the biopharmaceutical company’s stock worth $2,060,638,000 after buying an additional 2,847,907 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of Incyte Corporation during the first quarter worth approximately $85,751,000. Geode Capital Management LLC raised its stake in shares of Incyte Corporation by 42.0% in the first quarter. Geode Capital Management LLC now owns 1,780,064 shares of the biopharmaceutical company’s stock worth $237,618,000 after buying an additional 526,163 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in shares of Incyte Corporation by 64.1% in the second quarter. Jennison Associates LLC now owns 1,313,982 shares of the biopharmaceutical company’s stock worth $165,443,000 after buying an additional 513,423 shares during the last quarter. Institutional investors and hedge funds own 91.04% of the company’s stock.
Incyte Corporation (NASDAQ INCY) opened at 121.76 on Monday. The stock has a 50 day moving average of $129.05 and a 200-day moving average of $129.60. Incyte Corporation has a 12 month low of $77.58 and a 12 month high of $153.15. The company’s market cap is $25.05 billion.
Incyte Corporation (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. Incyte Corporation had a negative net margin of 11.77% and a negative return on equity of 21.57%. The business had revenue of $326.40 million for the quarter, compared to analysts’ expectations of $318.45 million. During the same period in the previous year, the company earned $0.18 EPS. Incyte Corporation’s revenue for the quarter was up 32.5% compared to the same quarter last year. Equities research analysts expect that Incyte Corporation will post ($0.86) EPS for the current year.
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A number of equities research analysts recently commented on INCY shares. Morgan Stanley restated an “overweight” rating and set a $142.00 price objective on shares of Incyte Corporation in a report on Friday, May 19th. Jefferies Group LLC restated a “buy” rating and set a $148.00 price objective on shares of Incyte Corporation in a report on Thursday, May 18th. Zacks Investment Research upgraded shares of Incyte Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 23rd. Barclays PLC raised their price objective on shares of Incyte Corporation from $135.00 to $185.00 and gave the stock an “overweight” rating in a report on Tuesday, July 4th. Finally, TheStreet lowered shares of Incyte Corporation from a “c+” rating to a “d+” rating in a report on Thursday, May 4th. Eight research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. Incyte Corporation has an average rating of “Buy” and an average price target of $140.16.
In other news, EVP Steven H. Stein sold 9,883 shares of the company’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $125.00, for a total transaction of $1,235,375.00. Following the completion of the sale, the executive vice president now owns 18,518 shares of the company’s stock, valued at approximately $2,314,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jean Jacques Bienaime purchased 500 shares of Incyte Corporation stock in a transaction dated Wednesday, May 31st. The shares were acquired at an average cost of $131.80 per share, with a total value of $65,900.00. Following the transaction, the director now directly owns 4,677 shares in the company, valued at $616,428.60. The disclosure for this purchase can be found here. Insiders have sold a total of 48,183 shares of company stock valued at $5,976,946 in the last ninety days. Insiders own 17.70% of the company’s stock.
About Incyte Corporation
Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).
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