Municipal Employees Retirement System of Michigan Has $515,000 Holdings in Incyte Corporation (INCY)

Municipal Employees Retirement System of Michigan cut its holdings in Incyte Corporation (NASDAQ:INCY) by 21.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,410 shares of the biopharmaceutical company’s stock after selling 1,240 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Incyte were worth $515,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. US Bancorp DE increased its position in shares of Incyte by 26.0% during the second quarter. US Bancorp DE now owns 3,694 shares of the biopharmaceutical company’s stock worth $465,000 after purchasing an additional 763 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Incyte by 33.6% during the second quarter. Janney Montgomery Scott LLC now owns 11,899 shares of the biopharmaceutical company’s stock worth $1,498,000 after purchasing an additional 2,990 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Incyte by 4.8% during the second quarter. CIBC Asset Management Inc now owns 23,902 shares of the biopharmaceutical company’s stock worth $3,010,000 after purchasing an additional 1,103 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of Incyte by 11.7% during the second quarter. Daiwa Securities Group Inc. now owns 20,030 shares of the biopharmaceutical company’s stock worth $2,522,000 after purchasing an additional 2,100 shares in the last quarter. Finally, Sei Investments Co. increased its position in shares of Incyte by 60.6% during the second quarter. Sei Investments Co. now owns 43,976 shares of the biopharmaceutical company’s stock worth $5,537,000 after purchasing an additional 16,589 shares in the last quarter. Institutional investors own 90.86% of the company’s stock.

Incyte Corporation (INCY) opened at $93.68 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.81 and a current ratio of 4.82. Incyte Corporation has a 12-month low of $93.65 and a 12-month high of $153.15.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.11. Incyte had a negative return on equity of 12.91% and a negative net margin of 10.90%. The firm had revenue of $381.50 million during the quarter, compared to the consensus estimate of $360.34 million. During the same period in the previous year, the firm posted $0.19 EPS. The company’s quarterly revenue was up 41.6% compared to the same quarter last year. sell-side analysts anticipate that Incyte Corporation will post -1.33 earnings per share for the current fiscal year.

A number of equities analysts recently issued reports on the company. BMO Capital Markets reissued an “outperform” rating and set a $163.00 price target (down previously from $172.00) on shares of Incyte in a report on Monday, September 11th. Oppenheimer reissued a “hold” rating and set a $135.00 price target on shares of Incyte in a report on Sunday, September 10th. Goldman Sachs Group assumed coverage on Incyte in a report on Friday, October 6th. They set a “buy” rating and a $160.00 price target on the stock. ValuEngine lowered Incyte from a “hold” rating to a “sell” rating in a report on Wednesday, November 29th. Finally, Evercore ISI assumed coverage on Incyte in a report on Wednesday, August 16th. They set an “in-line” rating and a $135.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $145.65.

In other Incyte news, EVP Barry P. Flannelly sold 714 shares of the business’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $124.25, for a total value of $88,714.50. Following the completion of the transaction, the executive vice president now directly owns 15,496 shares in the company, valued at approximately $1,925,378. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bros. Advisors Lp Baker purchased 100,000 shares of the business’s stock in a transaction on Friday, September 8th. The stock was acquired at an average price of $132.00 per share, with a total value of $13,200,000.00. The disclosure for this purchase can be found here. Insiders have sold a total of 103,638 shares of company stock valued at $11,923,797 over the last 90 days. Insiders own 17.70% of the company’s stock.

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Incyte Profile

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).

Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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