Lau Associates LLC Decreases Holdings in Incyte Co. (INCY)
Lau Associates LLC trimmed its holdings in Incyte Co. (NASDAQ:INCY) by 18.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,532 shares of the biopharmaceutical company’s stock after selling 2,900 shares during the quarter. Lau Associates LLC’s holdings in Incyte were worth $1,187,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Inverness Counsel LLC NY acquired a new stake in shares of Incyte during the 3rd quarter worth approximately $330,000. LMR Partners LLP acquired a new stake in shares of Incyte during the 3rd quarter worth approximately $394,000. Swiss National Bank increased its holdings in shares of Incyte by 3.0% during the 3rd quarter. Swiss National Bank now owns 641,700 shares of the biopharmaceutical company’s stock worth $74,912,000 after buying an additional 18,700 shares during the last quarter. Matrix Capital Management Company LP increased its holdings in shares of Incyte by 28.3% during the 2nd quarter. Matrix Capital Management Company LP now owns 1,796,716 shares of the biopharmaceutical company’s stock worth $226,225,000 after buying an additional 396,716 shares during the last quarter. Finally, Prudential Financial Inc. increased its holdings in shares of Incyte by 0.6% during the 3rd quarter. Prudential Financial Inc. now owns 236,699 shares of the biopharmaceutical company’s stock worth $27,633,000 after buying an additional 1,490 shares during the last quarter. 90.75% of the stock is currently owned by institutional investors and hedge funds.
INCY has been the subject of a number of recent analyst reports. Jefferies Group restated a “buy” rating on shares of Incyte in a report on Friday, October 6th. Goldman Sachs Group initiated coverage on shares of Incyte in a report on Friday, October 6th. They set a “buy” rating and a $160.00 price target for the company. JPMorgan Chase & Co. restated a “buy” rating on shares of Incyte in a report on Wednesday, October 25th. BMO Capital Markets cut their price target on shares of Incyte from $163.00 to $162.00 and set an “outperform” rating for the company in a report on Thursday, October 26th. Finally, Oppenheimer set a $135.00 price target on shares of Incyte and gave the stock a “hold” rating in a report on Tuesday, October 31st. Three research analysts have 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’s stock. Incyte has a consensus rating of “Buy” and a consensus price target of $143.25.
Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.11. The business had revenue of $381.50 million during the quarter, compared to the consensus estimate of $360.34 million. Incyte had a negative net margin of 10.90% and a negative return on equity of 12.91%. The company’s quarterly revenue was up 41.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.19 earnings per share. research analysts predict that Incyte Co. will post -1.33 earnings per share for the current year.
In other Incyte news, insider David W. Gryska sold 6,760 shares of the business’s 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 completion of the transaction, the insider now owns 20,752 shares in the company, valued at $2,051,750.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider David W. Gryska sold 3,915 shares of the business’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $105.63, for a total transaction of $413,541.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,878 shares of company stock valued at $4,636,494. Insiders own 17.70% of the company’s stock.
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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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