Barometer Capital Management Inc. Buys New Stake in Incyte Co. (INCY)

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Barometer Capital Management Inc. bought a new stake in shares of Incyte Co. (NASDAQ:INCY) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 38,600 shares of the biopharmaceutical company’s stock, valued at approximately $3,320,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc lifted its position in shares of Incyte by 0.7% in the third quarter. Vanguard Group Inc now owns 18,380,804 shares of the biopharmaceutical company’s stock valued at $1,269,746,000 after acquiring an additional 120,700 shares in the last quarter. BlackRock Inc. lifted its position in shares of Incyte by 1.1% in the fourth quarter. BlackRock Inc. now owns 15,262,962 shares of the biopharmaceutical company’s stock valued at $970,575,000 after acquiring an additional 167,751 shares in the last quarter. Norges Bank purchased a new position in shares of Incyte in the fourth quarter valued at about $186,630,000. Geode Capital Management LLC lifted its position in shares of Incyte by 7.6% in the fourth quarter. Geode Capital Management LLC now owns 2,360,606 shares of the biopharmaceutical company’s stock valued at $149,854,000 after acquiring an additional 166,510 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Incyte by 3.3% in the fourth quarter. Northern Trust Corp now owns 1,973,435 shares of the biopharmaceutical company’s stock worth $125,490,000 after buying an additional 62,842 shares in the last quarter. Institutional investors own 91.59% of the company’s stock.

Shares of NASDAQ INCY opened at $73.96 on Friday. The company has a current ratio of 4.31, a quick ratio of 4.29 and a debt-to-equity ratio of 0.01. Incyte Co. has a 1-year low of $57.00 and a 1-year high of $88.83. The company has a market cap of $15.85 billion, a price-to-earnings ratio of 90.20 and a beta of 1.39.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Thursday, February 14th. The biopharmaceutical company reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ 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 company had revenue of $528.40 million for the quarter, compared to analysts’ expectations of $485.72 million. During the same period in the previous year, the firm posted $0.02 earnings per share. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. As a group, analysts predict that Incyte Co. will post 1.4 EPS for the current fiscal year.

In other Incyte news, EVP Barry P. Flannelly sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, January 28th. The stock was sold at an average price of $80.00, for a total transaction of $80,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Paula J. Swain sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $86.68, for a total value of $866,800.00. The disclosure for this sale can be found here. Insiders have sold 31,000 shares of company stock worth $2,628,800 over the last three months. 17.10% of the stock is currently owned by insiders.

A number of research firms recently commented on INCY. BidaskClub downgraded Incyte from a “hold” rating to a “sell” rating in a research report on Tuesday. Stifel Nicolaus began coverage on Incyte in a research report on Wednesday, April 10th. They issued a “hold” rating and a $82.00 target price on the stock. Zacks Investment Research downgraded Incyte from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 23rd. Barclays reiterated a “buy” rating and issued a $90.00 target price on shares of Incyte in a research report on Sunday, April 14th. Finally, Royal Bank of Canada downgraded Incyte from an “outperform” rating to a “sector perform” rating and set a $89.00 target price on the stock. in a research report on Wednesday, April 3rd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $91.82.

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About Incyte

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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