National Pension Service Increases Stock Position in Incyte Co. (NASDAQ:INCY)

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National Pension Service grew its stake in shares of Incyte Co. (NASDAQ:INCY) by 5.4% during the third quarter, HoldingsChannel.com reports. The fund owned 265,913 shares of the biopharmaceutical company’s stock after buying an additional 13,585 shares during the quarter. National Pension Service’s holdings in Incyte were worth $19,739,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of INCY. Commonwealth Bank of Australia boosted its holdings in shares of Incyte by 49.2% in the second quarter. Commonwealth Bank of Australia now owns 376 shares of the biopharmaceutical company’s stock worth $31,000 after buying an additional 124 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Incyte by 617.7% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 445 shares of the biopharmaceutical company’s stock worth $33,000 after buying an additional 383 shares during the last quarter. Pathstone Family Office LLC purchased a new position in shares of Incyte in the second quarter worth approximately $34,000. Captrust Financial Advisors purchased a new position in shares of Incyte in the second quarter worth approximately $35,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in shares of Incyte in the third quarter worth approximately $46,000. 91.10% of the stock is currently owned by institutional investors.

INCY has been the topic of a number of research reports. Guggenheim set a $101.00 price objective on shares of Incyte and gave the stock a “buy” rating in a report on Friday, September 27th. JMP Securities raised their price objective on shares of Incyte from $107.00 to $110.00 and gave the stock a “market outperform” rating in a report on Monday, September 30th. BMO Capital Markets assumed coverage on shares of Incyte in a report on Thursday, September 12th. They issued a “market perform” rating and a $85.00 price objective on the stock. ValuEngine downgraded shares of Incyte from a “sell” rating to a “strong sell” rating in a report on Saturday, October 5th. Finally, Oppenheimer raised shares of Incyte from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $85.00 to $100.00 in a report on Thursday, September 5th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $93.05.

In other news, EVP Paula J. Swain sold 2,500 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $80.00, for a total transaction of $200,000.00. Following the completion of the sale, the executive vice president now directly owns 44,112 shares of the company’s stock, valued at $3,528,960. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Trower sold 16,500 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $80.45, for a total transaction of $1,327,425.00. Following the sale, the insider now directly owns 23,907 shares of the company’s stock, valued at $1,923,318.15. The disclosure for this sale can be found here. Insiders have sold 111,436 shares of company stock worth $9,462,285 in the last quarter. Company insiders own 17.10% of the company’s stock.

Shares of INCY opened at $94.16 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.01 and a current ratio of 5.02. Incyte Co. has a fifty-two week low of $57.00 and a fifty-two week high of $95.00. The stock has a market capitalization of $20.28 billion, a PE ratio of 47.08, a P/E/G ratio of 1.37 and a beta of 1.00. The company’s fifty day moving average is $83.60 and its 200 day moving average is $81.29.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.27. Incyte had a net margin of 19.21% and a return on equity of 20.07%. The business had revenue of $551.58 million for the quarter, compared to analysts’ expectations of $534.73 million. During the same quarter in the previous year, the business posted $0.41 earnings per share. The business’s revenue was up 22.7% compared to the same quarter last year. As a group, research analysts forecast that Incyte Co. will post 2.14 earnings per share for the current year.

About Incyte

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

Further Reading: What is meant by holder of record?

Want to see what other hedge funds are holding INCY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Incyte Co. (NASDAQ:INCY).

Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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