Stevens Capital Management LP Makes New Investment in Incyte Co. (NASDAQ:INCY)

Stevens Capital Management LP bought a new position in shares of Incyte Co. (NASDAQ:INCY) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 20,334 shares of the biopharmaceutical company’s stock, valued at approximately $1,728,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Kornitzer Capital Management Inc. KS grew its holdings in shares of Incyte by 2.8% in the second quarter. Kornitzer Capital Management Inc. KS now owns 182,730 shares of the biopharmaceutical company’s stock valued at $15,525,000 after purchasing an additional 5,000 shares in the last quarter. Sector Gamma AS grew its holdings in shares of Incyte by 20.1% in the second quarter. Sector Gamma AS now owns 313,893 shares of the biopharmaceutical company’s stock valued at $26,668,000 after purchasing an additional 52,600 shares in the last quarter. Trellus Management Company LLC purchased a new position in shares of Incyte in the second quarter valued at $637,000. Janus Henderson Group PLC grew its holdings in shares of Incyte by 128.7% in the second quarter. Janus Henderson Group PLC now owns 250,913 shares of the biopharmaceutical company’s stock valued at $21,318,000 after purchasing an additional 141,216 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of Incyte by 8.4% in the second quarter. KBC Group NV now owns 120,636 shares of the biopharmaceutical company’s stock valued at $10,249,000 after purchasing an additional 9,317 shares in the last quarter. Institutional investors own 90.47% of the company’s stock.

A number of research firms recently weighed in on INCY. Barclays lowered shares of Incyte from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $90.00 to $82.00 in a report on Friday, May 3rd. Leerink Swann set a $90.00 target price on shares of Incyte and gave the company a “hold” rating in a report on Wednesday, July 31st. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Incyte in a research note on Monday, June 17th. BidaskClub raised shares of Incyte from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $91.00 price objective on shares of Incyte in a research note on Wednesday, July 31st. Twelve analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Incyte has an average rating of “Buy” and an average price target of $89.67.



In other news, EVP Steven H. Stein sold 8,357 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $87.96, for a total transaction of $735,081.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Paula J. Swain sold 2,500 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $80.00, for a total transaction of $200,000.00. Following the sale, the executive vice president now directly owns 39,013 shares of the company’s stock, valued at $3,121,040. The disclosure for this sale can be found here. Insiders have sold 116,040 shares of company stock valued at $9,627,376 over the last three months. Insiders own 17.10% of the company’s stock.

NASDAQ INCY traded up $1.55 on Friday, hitting $82.16. 260,420 shares of the stock were exchanged, compared to its average volume of 1,184,060. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.59 and a current ratio of 5.61. The stock has a fifty day moving average price of $82.41 and a two-hundred day moving average price of $81.93. The firm has a market capitalization of $17.83 billion, a P/E ratio of 100.20 and a beta of 1.12. Incyte Co. has a 52-week low of $57.00 and a 52-week high of $89.30.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.37. The firm had revenue of $529.93 million during the quarter, compared to analyst estimates of $498.57 million. Incyte had a net margin of 15.25% and a return on equity of 17.10%. The business’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 earnings per share. Sell-side analysts expect that Incyte Co. will post 1.98 earnings per share for the current fiscal year.

Incyte Company 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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