Robeco Institutional Asset Management B.V. raised its stake in Incyte Co. (NASDAQ:INCY – Get Rating) by 584.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 319,850 shares of the biopharmaceutical company’s stock after purchasing an additional 273,113 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.14% of Incyte worth $21,314,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the business. Daiwa Securities Group Inc. raised its stake in shares of Incyte by 0.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 17,683 shares of the biopharmaceutical company’s stock valued at $1,178,000 after acquiring an additional 138 shares during the period. Vantage Consulting Group Inc raised its stake in shares of Incyte by 4.4% in the 3rd quarter. Vantage Consulting Group Inc now owns 3,561 shares of the biopharmaceutical company’s stock valued at $237,000 after acquiring an additional 150 shares during the period. D.A. Davidson & CO. raised its stake in shares of Incyte by 4.8% in the 1st quarter. D.A. Davidson & CO. now owns 3,300 shares of the biopharmaceutical company’s stock valued at $262,000 after acquiring an additional 150 shares during the period. Kentucky Retirement Systems Insurance Trust Fund raised its stake in shares of Incyte by 2.8% in the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 6,616 shares of the biopharmaceutical company’s stock valued at $441,000 after acquiring an additional 183 shares during the period. Finally, Utah Retirement Systems raised its stake in shares of Incyte by 0.6% in the 3rd quarter. Utah Retirement Systems now owns 32,929 shares of the biopharmaceutical company’s stock valued at $2,194,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 95.08% of the company’s stock.
Insiders Place Their Bets
In other Incyte news, EVP Vijay K. Iyengar sold 17,324 shares of the firm’s stock in a transaction on Friday, December 23rd. The shares were sold at an average price of $80.80, for a total transaction of $1,399,779.20. Following the completion of the transaction, the executive vice president now directly owns 37,855 shares of the company’s stock, valued at approximately $3,058,684. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Vijay K. Iyengar sold 17,324 shares of Incyte stock in a transaction dated Friday, December 23rd. The shares were sold at an average price of $80.80, for a total value of $1,399,779.20. Following the completion of the transaction, the executive vice president now directly owns 37,855 shares of the company’s stock, valued at approximately $3,058,684. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Steven H. Stein sold 28,399 shares of Incyte stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $79.78, for a total transaction of $2,265,672.22. Following the completion of the transaction, the executive vice president now directly owns 109,021 shares of the company’s stock, valued at $8,697,695.38. The disclosure for this sale can be found here. Insiders sold a total of 113,970 shares of company stock valued at $9,447,367 in the last ninety days. Corporate insiders own 17.50% of the company’s stock.
Incyte Price Performance
Incyte (NASDAQ:INCY – Get Rating) last announced its quarterly earnings data on Tuesday, February 7th. The biopharmaceutical company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.03. The company had revenue of $926.70 million during the quarter, compared to analyst estimates of $880.25 million. Incyte had a net margin of 10.03% and a return on equity of 11.45%. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the business earned ($0.07) EPS. As a group, research analysts anticipate that Incyte Co. will post 3.29 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
INCY has been the topic of a number of research reports. StockNews.com initiated coverage on shares of Incyte in a research note on Thursday. They issued a “strong-buy” rating on the stock. Credit Suisse Group lifted their price target on shares of Incyte from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, February 16th. Wells Fargo & Company lifted their price target on shares of Incyte from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 3rd. JPMorgan Chase & Co. dropped their price target on shares of Incyte from $82.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 8th. Finally, JMP Securities reaffirmed a “buy” rating and set a $113.00 price target on shares of Incyte in a research note on Tuesday, March 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Incyte currently has a consensus rating of “Hold” and a consensus target price of $87.54.
Incyte Profile
Incyte Corp. is a biopharmaceutical company, which engages in the discovery, development, and commercialization of proprietary therapeutics. The company was founded in April 1991 and is headquartered in Wilmington, DE.
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