Sector Gamma AS Increases Position in Incyte Co. (NASDAQ:INCY)

Sector Gamma AS raised its stake in Incyte Co. (NASDAQ:INCY) by 10.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 345,893 shares of the biopharmaceutical company’s stock after acquiring an additional 32,000 shares during the period. Incyte makes up 4.3% of Sector Gamma AS’s portfolio, making the stock its 7th largest holding. Sector Gamma AS’s holdings in Incyte were worth $25,676,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Contravisory Investment Management Inc. bought a new stake in shares of Incyte in the 2nd quarter worth about $342,000. Retirement Systems of Alabama increased its holdings in shares of Incyte by 0.3% in the 2nd quarter. Retirement Systems of Alabama now owns 83,005 shares of the biopharmaceutical company’s stock worth $7,052,000 after buying an additional 279 shares during the last quarter. Country Trust Bank increased its holdings in shares of Incyte by 0.5% in the 2nd quarter. Country Trust Bank now owns 366,608 shares of the biopharmaceutical company’s stock worth $31,147,000 after buying an additional 1,876 shares during the last quarter. Xact Kapitalforvaltning AB increased its holdings in shares of Incyte by 7.9% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 35,066 shares of the biopharmaceutical company’s stock worth $2,979,000 after buying an additional 2,571 shares during the last quarter. Finally, CENTRAL TRUST Co bought a new stake in shares of Incyte in the 2nd quarter worth about $168,000. Institutional investors own 91.70% of the company’s stock.

Incyte stock traded up $2.34 during trading hours on Friday, hitting $85.10. The company had a trading volume of 870,200 shares, compared to its average volume of 1,276,004. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.01 and a current ratio of 5.02. The firm has a market cap of $18.12 billion, a P/E ratio of 103.78, a P/E/G ratio of 1.23 and a beta of 0.99. The company has a 50-day moving average price of $78.24 and a two-hundred day moving average price of $80.22. Incyte Co. has a 1 year low of $57.00 and a 1 year high of $89.30.

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

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In other Incyte news, EVP Paula J. Swain sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $80.96, for a total transaction of $202,400.00. Following the transaction, the executive vice president now owns 44,112 shares in the company, valued at approximately $3,571,307.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Trower sold 16,500 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 23,907 shares in the company, valued at approximately $1,923,318.15. The disclosure for this sale can be found here. In the last quarter, insiders have sold 94,294 shares of company stock valued at $7,849,355. 17.10% of the stock is currently owned by company insiders.

A number of research firms have recently weighed in on INCY. Leerink Swann set a $90.00 target price on shares of Incyte and gave the stock a “hold” rating in a report on Wednesday, July 31st. Oppenheimer upgraded shares of Incyte from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $85.00 to $100.00 in a report on Thursday, September 5th. They noted that the move was a valuation call. Morgan Stanley boosted their target price on shares of Incyte from $82.00 to $87.00 and gave the stock an “equal weight” rating in a report on Thursday, September 5th. BMO Capital Markets started coverage on shares of Incyte in a report on Thursday, September 12th. They issued a “market perform” rating and a $85.00 target price on the stock. Finally, JMP Securities lifted their price target on shares of Incyte from $107.00 to $110.00 and gave the stock a “market outperform” rating in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Incyte has a consensus rating of “Buy” and an average price target of $92.90.

Incyte Company Profile

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.

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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