Eagle Asset Management Inc. lifted its position in shares of Incyte Co. (NASDAQ:INCY) by 26.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 277,190 shares of the biopharmaceutical company’s stock after acquiring an additional 58,569 shares during the period. Eagle Asset Management Inc.’s holdings in Incyte were worth $26,088,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital International Investors grew its stake in shares of Incyte by 1.4% during the 3rd quarter. Capital International Investors now owns 6,494,566 shares of the biopharmaceutical company’s stock worth $758,176,000 after purchasing an additional 87,369 shares during the period. Jennison Associates LLC grew its stake in shares of Incyte by 24.3% during the 3rd quarter. Jennison Associates LLC now owns 1,633,173 shares of the biopharmaceutical company’s stock worth $190,657,000 after purchasing an additional 319,191 shares during the period. Manning & Napier Advisors LLC acquired a new stake in shares of Incyte during the 3rd quarter worth approximately $125,065,000. Pictet Asset Management Ltd. grew its stake in shares of Incyte by 27.4% during the 3rd quarter. Pictet Asset Management Ltd. now owns 1,055,743 shares of the biopharmaceutical company’s stock worth $123,247,000 after purchasing an additional 227,088 shares during the period. Finally, Old Mutual Global Investors UK Ltd. grew its stake in shares of Incyte by 374.4% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 930,319 shares of the biopharmaceutical company’s stock worth $108,605,000 after purchasing an additional 734,235 shares during the period. 89.43% of the stock is currently owned by institutional investors and hedge funds.
Incyte Co. (NASDAQ:INCY) opened at $86.03 on Monday. The company has a quick ratio of 3.99, a current ratio of 4.01 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $18,209.45, a price-to-earnings ratio of -55.15 and a beta of 0.59. Incyte Co. has a fifty-two week low of $80.85 and a fifty-two week high of $153.15.
INCY has been the topic of a number of analyst reports. Cowen reaffirmed a “buy” rating on shares of Incyte in a research note on Tuesday, December 5th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Incyte in a research report on Tuesday, October 31st. Raymond James Financial reiterated a “buy” rating on shares of Incyte in a research report on Tuesday, December 12th. BMO Capital Markets reiterated a “buy” rating and set a $172.00 target price on shares of Incyte in a research report on Wednesday, January 3rd. Finally, Nomura reiterated a “buy” rating on shares of Incyte in a research report on Thursday, February 1st. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $142.94.
In other Incyte news, insider David W. Gryska sold 6,760 shares of the firm’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $98.87, for a total value of $668,361.20. Following the transaction, the insider now owns 20,752 shares in the company, valued at approximately $2,051,750.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Vijay K. Iyengar sold 5,000 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $97.26, for a total value of $486,300.00. The disclosure for this sale can be found here. Insiders sold a total of 12,456 shares of company stock worth $1,222,876 in the last 90 days. 17.70% of the stock is currently owned by insiders.
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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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