Oak Ridge Investments LLC Raises Stake in Incyte Co. (INCY)

Oak Ridge Investments LLC grew its position in Incyte Co. (NASDAQ:INCY) by 13.6% in the first quarter, HoldingsChannel reports. The institutional investor owned 39,075 shares of the biopharmaceutical company’s stock after acquiring an additional 4,680 shares during the period. Oak Ridge Investments LLC’s holdings in Incyte were worth $3,361,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of INCY. Metropolitan Life Insurance Co. NY grew its position in Incyte by 0.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 34,590 shares of the biopharmaceutical company’s stock valued at $2,200,000 after purchasing an additional 120 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in Incyte by 1.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 7,688 shares of the biopharmaceutical company’s stock valued at $489,000 after acquiring an additional 135 shares during the last quarter. ETF Managers Group LLC lifted its stake in Incyte by 9.8% in the first quarter. ETF Managers Group LLC now owns 1,717 shares of the biopharmaceutical company’s stock valued at $148,000 after acquiring an additional 153 shares during the last quarter. Grandfield & Dodd LLC lifted its stake in Incyte by 2.1% in the fourth quarter. Grandfield & Dodd LLC now owns 8,137 shares of the biopharmaceutical company’s stock valued at $517,000 after acquiring an additional 169 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in Incyte by 2.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 7,747 shares of the biopharmaceutical company’s stock valued at $493,000 after acquiring an additional 180 shares during the last quarter. 91.30% of the stock is owned by institutional investors and hedge funds.

INCY has been the subject of a number of recent analyst reports. BidaskClub cut shares of Incyte from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Credit Suisse Group initiated coverage on shares of Incyte in a research note on Monday, May 20th. They issued a “neutral” rating and a $75.00 price target for the company. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Incyte in a research note on Tuesday, April 30th. Oppenheimer set a $85.00 price target on shares of Incyte and gave the company a “hold” rating in a research note on Sunday, April 7th. Finally, Raymond James set a $100.00 price target on shares of Incyte and gave the company a “buy” rating in a research note on Friday, February 15th. Thirteen equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $91.07.

Shares of NASDAQ INCY traded up $1.25 during midday trading on Friday, reaching $81.75. The stock had a trading volume of 1,461,663 shares, compared to its average volume of 1,438,546. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.21 and a current ratio of 5.22. Incyte Co. has a twelve month low of $57.00 and a twelve month high of $88.83. The company has a market capitalization of $17.53 billion, a P/E ratio of 99.70 and a beta of 1.31.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.29. Incyte had a net margin of 12.66% and a return on equity of 13.28%. The company had revenue of $497.86 million for the quarter, compared to the consensus estimate of $488.00 million. During the same quarter in the previous year, the company earned ($0.01) EPS. Incyte’s quarterly revenue was up 30.2% compared to the same quarter last year. Analysts forecast that Incyte Co. will post 1.78 earnings per share for the current year.

In related news, EVP Paula J. Swain sold 10,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $87.01, for a total transaction of $870,100.00. Following the transaction, the executive vice president now owns 38,295 shares in the company, valued at approximately $3,332,047.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 17.10% of the stock is owned by insiders.

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Incyte 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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