Metropolitan Life Insurance Co. NY Raises Position in Incyte Corporation (INCY)

Metropolitan Life Insurance Co. NY raised its position in shares of Incyte Corporation (NASDAQ:INCY) by 730.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 92,889 shares of the biopharmaceutical company’s stock after buying an additional 81,705 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Incyte Corporation were worth $12,416,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in INCY. Shelton Capital Management boosted its stake in shares of Incyte Corporation by 122.9% in the first quarter. Shelton Capital Management now owns 25,878 shares of the biopharmaceutical company’s stock worth $3,459,000 after buying an additional 14,266 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Incyte Corporation by 1,626.0% in the first quarter. AQR Capital Management LLC now owns 94,928 shares of the biopharmaceutical company’s stock worth $12,689,000 after buying an additional 89,428 shares during the period. Highbridge Capital Management LLC boosted its stake in shares of Incyte Corporation by 22.5% in the first quarter. Highbridge Capital Management LLC now owns 3,570 shares of the biopharmaceutical company’s stock worth $478,000 after buying an additional 655 shares during the period. State Street Corp boosted its stake in shares of Incyte Corporation by 110.7% in the first quarter. State Street Corp now owns 7,581,684 shares of the biopharmaceutical company’s stock worth $1,013,437,000 after buying an additional 3,983,207 shares during the period. Finally, Two Sigma Securities LLC boosted its stake in shares of Incyte Corporation by 176.7% in the first quarter. Two Sigma Securities LLC now owns 10,629 shares of the biopharmaceutical company’s stock worth $1,421,000 after buying an additional 6,788 shares during the period. 92.79% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Incyte Corporation (NASDAQ:INCY)

Incyte Corporation (INCY) traded up 0.32% during trading on Friday, reaching $136.06. 785,589 shares of the company’s stock traded hands. Incyte Corporation has a one year low of $71.75 and a one year high of $153.15. The company has a 50-day moving average price of $124.12 and a 200 day moving average price of $123.48. The firm’s market capitalization is $27.86 billion.

Incyte Corporation (NASDAQ:INCY) last announced its quarterly earnings results on Thursday, May 4th. The biopharmaceutical company reported ($0.96) earnings per share for the quarter, beating the consensus estimate of ($0.97) by $0.01. The firm had revenue of $384.08 million for the quarter, compared to analysts’ expectations of $359.19 million. Incyte Corporation had a negative net margin of 8.72% and a negative return on equity of 20.09%. The company’s revenue was up 45.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 EPS. On average, analysts anticipate that Incyte Corporation will post ($0.72) earnings per share for the current fiscal year.

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A number of brokerages have recently issued reports on INCY. Jefferies Group LLC reissued a “buy” rating and issued a $148.00 price objective on shares of Incyte Corporation in a research note on Tuesday. Credit Suisse Group reissued a “buy” rating on shares of Incyte Corporation in a research note on Saturday, June 10th. Oppenheimer Holdings, Inc. set a $135.00 price objective on shares of Incyte Corporation and gave the stock a “hold” rating in a research note on Tuesday, June 6th. Barclays PLC reissued an “overweight” rating and issued a $180.00 price objective on shares of Incyte Corporation in a research note on Tuesday, June 6th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $166.00 price objective (up from $155.00) on shares of Incyte Corporation in a research note on Monday, June 5th. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Incyte Corporation presently has a consensus rating of “Buy” and a consensus target price of $141.93.

In other news, Director Jean Jacques Bienaime purchased 1,000 shares of the stock in a transaction dated Friday, April 7th. The shares were purchased at an average price of $139.48 per share, with a total value of $139,480.00. Following the transaction, the director now owns 2,177 shares in the company, valued at approximately $303,647.96. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Eric H. Siegel sold 1,820 shares of the business’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $124.73, for a total transaction of $227,008.60. Following the transaction, the executive vice president now directly owns 18,744 shares in the company, valued at approximately $2,337,939.12. The disclosure for this sale can be found here. In the last three months, insiders have bought 3,500 shares of company stock worth $464,670 and have sold 119,427 shares worth $15,782,469. Insiders own 13.70% of the company’s stock.

About Incyte Corporation

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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