Fisher Asset Management LLC cut its position in shares of Incyte Corporation (NASDAQ:INCY) by 9.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,022 shares of the biopharmaceutical company’s stock after selling 1,510 shares during the quarter. Fisher Asset Management LLC’s holdings in Incyte Corporation were worth $1,637,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of INCY. Vanguard Group Inc. lifted its stake in Incyte Corporation by 11.1% during the second quarter. Vanguard Group Inc. now owns 17,125,542 shares of the biopharmaceutical company’s stock valued at $2,156,276,000 after buying an additional 1,709,685 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Incyte Corporation by 4,570.1% during the second quarter. Janus Henderson Group PLC now owns 1,045,363 shares of the biopharmaceutical company’s stock valued at $131,622,000 after buying an additional 1,022,979 shares in the last quarter. Jennison Associates LLC lifted its stake in Incyte Corporation by 64.1% during the second quarter. Jennison Associates LLC now owns 1,313,982 shares of the biopharmaceutical company’s stock valued at $165,443,000 after buying an additional 513,423 shares in the last quarter. Matrix Capital Management Company LP lifted its stake in Incyte Corporation by 28.3% during the second quarter. Matrix Capital Management Company LP now owns 1,796,716 shares of the biopharmaceutical company’s stock valued at $226,225,000 after buying an additional 396,716 shares in the last quarter. Finally, Capital International Investors lifted its stake in Incyte Corporation by 4.0% during the second quarter. Capital International Investors now owns 6,407,197 shares of the biopharmaceutical company’s stock valued at $806,730,000 after buying an additional 246,134 shares in the last quarter. 88.85% of the stock is owned by institutional investors.

In other news, EVP Steven H. Stein sold 2,111 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $125.00, for a total transaction of $263,875.00. Following the sale, the executive vice president now owns 18,687 shares in the company, valued at approximately $2,335,875. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Barry P. Flannelly sold 714 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $124.25, for a total value of $88,714.50. Following the sale, the executive vice president now owns 15,496 shares in the company, valued at approximately $1,925,378. The disclosure for this sale can be found here. In the last quarter, insiders have sold 101,147 shares of company stock worth $12,615,101. Company insiders own 17.70% of the company’s stock.

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INCY has been the subject of a number of analyst reports. Cowen and Company reaffirmed an “outperform” rating and set a $130.00 price objective on shares of Incyte Corporation in a research note on Monday, July 3rd. Barclays PLC upped their price objective on shares of Incyte Corporation from $135.00 to $185.00 and gave the company an “overweight” rating in a research note on Tuesday, July 4th. Jefferies Group LLC reaffirmed a “buy” rating and set a $165.00 price objective on shares of Incyte Corporation in a research note on Tuesday, July 4th. BidaskClub lowered shares of Incyte Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Finally, Credit Suisse Group set a $152.00 price objective on shares of Incyte Corporation and gave the company a “buy” rating in a research note on Sunday, July 16th. Seven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Incyte Corporation currently has a consensus rating of “Buy” and an average price target of $144.80.

Incyte Corporation (INCY) opened at 114.24 on Tuesday. Incyte Corporation has a one year low of $83.01 and a one year high of $153.15. The firm’s 50-day moving average price is $115.21 and its 200 day moving average price is $124.22. The firm’s market cap is $23.50 billion.

Incyte Corporation (NASDAQ:INCY) last released its 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 firm had revenue of $326.40 million during the quarter, compared to the consensus estimate of $318.45 million. During the same quarter in the previous year, the firm posted $0.18 EPS. The company’s revenue was up 32.5% on a year-over-year basis. On average, equities research analysts forecast that Incyte Corporation will post ($0.81) EPS for the current year.

Incyte Corporation Company Profile

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).

Institutional Ownership by Quarter for Incyte Corporation (NASDAQ:INCY)

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