Sit Investment Associates Inc. lifted its holdings in shares of Incyte Co. (NASDAQ:INCY) by 7.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 51,685 shares of the biopharmaceutical company’s stock after acquiring an additional 3,700 shares during the period. Sit Investment Associates Inc.’s holdings in Incyte were worth $4,895,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of INCY. Tower Research Capital LLC TRC boosted its position in shares of Incyte by 13.8% during the second quarter. Tower Research Capital LLC TRC now owns 891 shares of the biopharmaceutical company’s stock worth $112,000 after buying an additional 108 shares during the period. Seven Eight Capital LP acquired a new position in shares of Incyte during the second quarter worth approximately $129,000. Sun Life Financial INC boosted its position in shares of Incyte by 9,069.2% during the second quarter. Sun Life Financial INC now owns 1,192 shares of the biopharmaceutical company’s stock worth $150,000 after buying an additional 1,179 shares during the period. Private Advisor Group LLC acquired a new position in shares of Incyte during the third quarter worth approximately $203,000. Finally, Symphony Asset Management LLC boosted its position in shares of Incyte by 20.1% during the second quarter. Symphony Asset Management LLC now owns 1,867 shares of the biopharmaceutical company’s stock worth $235,000 after buying an additional 312 shares during the period. Institutional investors and hedge funds own 90.74% of the company’s stock.

In other news, EVP Reid M. Huber sold 696 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $98.01, for a total transaction of $68,214.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David W. Gryska sold 6,760 shares of the stock in a transaction on Friday, January 5th. The shares were sold at an average price of $98.87, for a total value of $668,361.20. Following the sale, the insider now owns 20,752 shares of the company’s stock, valued at approximately $2,051,750.24. The disclosure for this sale can be found here. Insiders have sold a total of 44,878 shares of company stock valued at $4,636,494 in the last quarter. Insiders own 17.70% of the company’s stock.

A number of equities research analysts have weighed in on the company. Jefferies Group restated a “buy” rating on shares of Incyte in a research report on Friday, October 6th. Goldman Sachs Group assumed coverage on Incyte in a research report on Friday, October 6th. They issued a “buy” rating and a $160.00 target price for the company. JPMorgan Chase & Co. restated a “buy” rating on shares of Incyte in a research report on Wednesday, October 25th. BMO Capital Markets cut their target price on Incyte from $163.00 to $162.00 and set an “outperform” rating for the company in a research report on Thursday, October 26th. Finally, Oppenheimer set a $135.00 target price on Incyte and gave the stock a “hold” rating in a research report on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $143.11.

Shares of Incyte Co. (NASDAQ:INCY) opened at $94.07 on Friday. Incyte Co. has a 52-week low of $92.52 and a 52-week high of $153.15. The company has a market capitalization of $19,850.00, a price-to-earnings ratio of -117.59 and a beta of 0.74. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.81 and a current ratio of 4.82.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.11. Incyte had a negative return on equity of 12.91% and a negative net margin of 10.90%. The company had revenue of $381.50 million during the quarter, compared to the consensus estimate of $360.34 million. During the same quarter in the prior year, the firm earned $0.19 EPS. The company’s quarterly revenue was up 41.6% compared to the same quarter last year. sell-side analysts forecast that Incyte Co. will post -1.31 earnings per share for the current fiscal year.

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About Incyte

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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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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