Commerzbank Aktiengesellschaft FI Raises Position in Incyte Corporation (INCY)
Commerzbank Aktiengesellschaft FI raised its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 672.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,102 shares of the biopharmaceutical company’s stock after buying an additional 24,463 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Incyte were worth $3,281,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the stock. Oppenheimer Asset Management Inc. lifted its position in shares of Incyte by 9.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 27,147 shares of the biopharmaceutical company’s stock valued at $3,418,000 after acquiring an additional 2,455 shares in the last quarter. Pinebridge Investments L.P. lifted its position in shares of Incyte by 122.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 74,590 shares of the biopharmaceutical company’s stock valued at $9,392,000 after acquiring an additional 40,992 shares in the last quarter. Calamos Advisors LLC lifted its position in shares of Incyte by 37.7% in the 2nd quarter. Calamos Advisors LLC now owns 113,132 shares of the biopharmaceutical company’s stock valued at $14,244,000 after acquiring an additional 30,990 shares in the last quarter. Inverness Counsel LLC NY purchased a new stake in shares of Incyte in the 3rd quarter valued at approximately $330,000. Finally, Tredje AP fonden lifted its position in Incyte by 63.4% in the 2nd quarter. Tredje AP fonden now owns 22,446 shares of the biopharmaceutical company’s stock worth $2,826,000 after buying an additional 8,706 shares in the last quarter. Hedge funds and other institutional investors own 90.86% of the company’s stock.
Incyte Corporation (NASDAQ:INCY) opened at $93.68 on Tuesday. Incyte Corporation has a 12 month low of $93.65 and a 12 month high of $153.15. The company has a quick ratio of 4.81, a current ratio of 4.82 and a debt-to-equity ratio of 0.01.
Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.11. Incyte had a negative net margin of 10.90% and a negative return on equity of 12.91%. The business had revenue of $381.50 million for the quarter, compared to analyst estimates of $360.34 million. During the same period last year, the business posted $0.19 EPS. Incyte’s revenue was up 41.6% compared to the same quarter last year. equities research analysts forecast that Incyte Corporation will post -1.33 EPS for the current year.
INCY has been the subject of a number of research analyst reports. J P Morgan Chase & Co reiterated a “buy” rating and issued a $149.00 target price on shares of Incyte in a research report on Thursday, August 31st. BMO Capital Markets reiterated an “outperform” rating and issued a $172.00 target price on shares of Incyte in a research report on Monday, August 28th. Jefferies Group reiterated a “buy” rating on shares of Incyte in a research report on Friday, October 6th. Goldman Sachs Group initiated coverage on shares of Incyte in a research report on Friday, October 6th. They issued a “buy” rating and a $160.00 target price for the company. Finally, Raymond James Financial upgraded shares of Incyte from a “market perform” rating to an “outperform” rating and set a $159.00 target price for the company in a research report on Monday, September 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $145.65.
In other Incyte news, Director Paul A. Friedman sold 28,507 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $105.24, for a total value of $3,000,076.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Bros. Advisors Lp Baker purchased 100,000 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was bought at an average price of $132.00 per share, for a total transaction of $13,200,000.00. The disclosure for this purchase can be found here. Insiders sold a total of 103,638 shares of company stock worth $11,923,797 over the last quarter. 17.70% of the stock is currently owned by company insiders.
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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