CWM Advisors LLC decreased its position in shares of Incyte Co. (NASDAQ:INCY) by 6.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,293 shares of the biopharmaceutical company’s stock after selling 288 shares during the quarter. CWM Advisors LLC’s holdings in Incyte were worth $273,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bremer Trust National Association purchased a new stake in Incyte during the 4th quarter worth about $42,000. Bronfman E.L. Rothschild L.P. lifted its holdings in Incyte by 46.3% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 730 shares of the biopharmaceutical company’s stock worth $46,000 after purchasing an additional 231 shares in the last quarter. Edge Wealth Management LLC purchased a new stake in Incyte during the 4th quarter worth about $64,000. Ledyard National Bank purchased a new stake in Incyte during the 4th quarter worth about $80,000. Finally, ETF Managers Group LLC lifted its holdings in Incyte by 15.8% during the 4th quarter. ETF Managers Group LLC now owns 1,564 shares of the biopharmaceutical company’s stock worth $99,000 after purchasing an additional 213 shares in the last quarter. Hedge funds and other institutional investors own 91.59% of the company’s stock.
In other Incyte news, EVP Barry P. Flannelly sold 1,000 shares of the stock in a transaction that occurred on Monday, January 28th. The stock was sold at an average price of $80.00, for a total value of $80,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Paula J. Swain sold 10,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $87.01, for a total value of $870,100.00. Following the completion of the sale, the executive vice president now owns 38,295 shares of the company’s stock, valued at approximately $3,332,047.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,000 shares of company stock worth $2,628,800. 17.10% of the stock is owned by corporate insiders.
Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Thursday, February 14th. The biopharmaceutical company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.15. Incyte had a return on equity of 6.17% and a net margin of 5.82%. The business had revenue of $528.40 million for the quarter, compared to analyst estimates of $485.72 million. During the same period last year, the company earned $0.02 EPS. Incyte’s revenue for the quarter was up 19.0% compared to the same quarter last year. As a group, analysts predict that Incyte Co. will post 1.4 earnings per share for the current fiscal year.
A number of analysts recently issued reports on the company. Zacks Investment Research raised Incyte from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a report on Thursday. BidaskClub cut Incyte from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Barclays restated a “buy” rating and issued a $90.00 target price on shares of Incyte in a research note on Sunday, April 14th. Stifel Nicolaus initiated coverage on Incyte in a research note on Wednesday, April 10th. They issued a “hold” rating and a $82.00 target price on the stock. Finally, Oppenheimer set a $85.00 target price on Incyte and gave the stock a “hold” rating in a research note on Sunday, April 7th. One analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $91.82.
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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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