Incyte Corporation (INCY) Position Raised by First Trust Advisors LP

First Trust Advisors LP raised its position in shares of Incyte Corporation (NASDAQ:INCY) by 23.9% during the second quarter, Holdings Channel reports. The fund owned 572,165 shares of the biopharmaceutical company’s stock after buying an additional 110,236 shares during the period. First Trust Advisors LP’s holdings in Incyte Corporation were worth $72,041,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Wetherby Asset Management Inc. boosted its position in Incyte Corporation by 1.4% in the second quarter. Wetherby Asset Management Inc. now owns 1,672 shares of the biopharmaceutical company’s stock worth $211,000 after buying an additional 23 shares during the last quarter. Grandfield & Dodd LLC boosted its position in Incyte Corporation by 0.7% in the first quarter. Grandfield & Dodd LLC now owns 7,298 shares of the biopharmaceutical company’s stock worth $976,000 after buying an additional 50 shares during the last quarter. IFP Advisors Inc boosted its position in Incyte Corporation by 6.8% in the first quarter. IFP Advisors Inc now owns 1,043 shares of the biopharmaceutical company’s stock worth $139,000 after buying an additional 66 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Incyte Corporation by 5.4% in the second quarter. State of Alaska Department of Revenue now owns 2,292 shares of the biopharmaceutical company’s stock worth $288,000 after buying an additional 117 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in Incyte Corporation by 0.9% in the first quarter. Fisher Asset Management LLC now owns 15,050 shares of the biopharmaceutical company’s stock worth $2,012,000 after buying an additional 133 shares during the last quarter. Institutional investors own 91.73% of the company’s stock.

Incyte Corporation (NASDAQ:INCY) opened at 124.10 on Friday. The firm’s market capitalization is $25.53 billion. The company’s 50-day moving average price is $130.96 and its 200 day moving average price is $129.40. Incyte Corporation has a 12 month low of $75.52 and a 12 month high of $153.15.

Incyte Corporation (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.01. Incyte Corporation had a negative net margin of 11.77% and a negative return on equity of 21.57%. The business had revenue of $326.40 million during the quarter, compared to analyst estimates of $318.45 million. During the same quarter in the prior year, the business earned $0.18 earnings per share. The firm’s quarterly revenue was up 32.5% on a year-over-year basis. Analysts predict that Incyte Corporation will post ($0.89) EPS for the current year.

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Several equities research analysts have weighed in on INCY shares. TheStreet upgraded Incyte Corporation from a “d+” rating to a “c” rating in a report on Wednesday, May 24th. Cowen and Company reiterated a “buy” rating on shares of Incyte Corporation in a report on Monday, June 5th. Credit Suisse Group reiterated a “buy” rating on shares of Incyte Corporation in a report on Saturday, June 10th. Zacks Investment Research upgraded Incyte Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, April 18th. Finally, Vetr upgraded Incyte Corporation from a “buy” rating to a “strong-buy” rating and set a $151.58 target price for the company in a report on Monday, April 17th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Incyte Corporation has an average rating of “Buy” and an average target price of $140.39.

In other news, EVP Steven H. Stein sold 9,883 shares of Incyte Corporation stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $125.00, for a total transaction of $1,235,375.00. Following the sale, the executive vice president now owns 18,518 shares in the company, valued at $2,314,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Trower sold 3,000 shares of Incyte Corporation stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $132.50, for a total value of $397,500.00. Following the sale, the insider now owns 13,950 shares in the company, valued at approximately $1,848,375. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 48,183 shares of company stock worth $5,976,946. 17.70% of the stock is owned by insiders.

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

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