Incyte Co. (NASDAQ:INCY) Shares Sold by M&G Investment Management Ltd.

M&G Investment Management Ltd. decreased its holdings in shares of Incyte Co. (NASDAQ:INCY) by 10.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 43,873 shares of the biopharmaceutical company’s stock after selling 5,089 shares during the period. M&G Investment Management Ltd.’s holdings in Incyte were worth $3,554,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in INCY. Creative Planning boosted its stake in shares of Incyte by 2.7% during the fourth quarter. Creative Planning now owns 7,512 shares of the biopharmaceutical company’s stock worth $653,000 after buying an additional 200 shares during the period. Treasurer of the State of North Carolina boosted its stake in shares of Incyte by 0.3% during the fourth quarter. Treasurer of the State of North Carolina now owns 69,862 shares of the biopharmaceutical company’s stock worth $6,077,000 after buying an additional 240 shares during the period. CIBC Asset Management Inc lifted its position in Incyte by 7.2% in the fourth quarter. CIBC Asset Management Inc now owns 34,215 shares of the biopharmaceutical company’s stock valued at $2,976,000 after purchasing an additional 2,286 shares during the period. Winslow Evans & Crocker Inc. lifted its position in Incyte by 7.5% in the fourth quarter. Winslow Evans & Crocker Inc. now owns 2,041 shares of the biopharmaceutical company’s stock valued at $177,000 after purchasing an additional 142 shares during the period. Finally, Daiwa Securities Group Inc. lifted its position in Incyte by 4.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 13,096 shares of the biopharmaceutical company’s stock valued at $1,139,000 after purchasing an additional 578 shares during the period. Institutional investors and hedge funds own 91.12% of the company’s stock.

INCY stock opened at $87.53 on Friday. The stock has a market cap of $19.25 billion, a PE ratio of 40.34, a P/E/G ratio of 1.08 and a beta of 0.81. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.93 and a quick ratio of 3.90. Incyte Co. has a one year low of $75.52 and a one year high of $110.36. The stock has a 50 day moving average price of $83.15.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, May 4th. The biopharmaceutical company reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.25. Incyte had a net margin of 17.70% and a return on equity of 20.10%. The company had revenue of $604.72 million during the quarter, compared to analysts’ expectations of $657.73 million. During the same period in the previous year, the company earned ($2.86) EPS. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, equities analysts anticipate that Incyte Co. will post 2.2 earnings per share for the current year.

INCY has been the subject of a number of recent analyst reports. Morgan Stanley reduced their price objective on shares of Incyte from $86.00 to $85.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 5th. TheStreet downgraded shares of Incyte from a “b-” rating to a “c” rating in a research report on Monday, March 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $97.00.

In related news, EVP Michael James Morrissey sold 20,000 shares of Incyte stock in a transaction on Monday, March 29th. The shares were sold at an average price of $81.08, for a total transaction of $1,621,600.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Dashyant Dhanak sold 396 shares of Incyte stock in a transaction on Thursday, April 1st. The shares were sold at an average price of $81.57, for a total transaction of $32,301.72. The disclosure for this sale can be found here. 15.80% of the stock is owned by insiders.

Incyte Company Profile

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States and internationally. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor for the treatment of adults; 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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