Incyte Corporation (INCY) : Rhenman Partners Asset Management Ab scooped up 60,000 additional shares in Incyte Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 19, 2016. The investment management firm now holds a total of 170,000 shares of Incyte Corporation which is valued at $13,050,900.Incyte Corporation makes up approximately 2.36% of Rhenman Partners Asset Management Ab’s portfolio.
Incyte Corporation closed down -0.79 points or -1.02% at $76.77 with 7,95,219 shares getting traded on Friday. Post opening the session at $77.11, the shares hit an intraday low of $74.84 and an intraday high of $77.87 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
Other Hedge Funds, Including , Gulf International Bank (uk) Ltd boosted its stake in INCY in the latest quarter, The investment management firm added 2,930 additional shares and now holds a total of 50,575 shares of Incyte Corporation which is valued at $3,882,643. Incyte Corporation makes up approx 0.07% of Gulf International Bank (uk) Ltd’s portfolio. Kanaly Trust Co sold out all of its stake in INCY during the most recent quarter. The investment firm sold 21 shares of INCY which is valued $1,633.Livforsakringsbolaget Skandia Omsesidigt reduced its stake in INCY by selling 2,700 shares or 18.24% in the most recent quarter. The Hedge Fund company now holds 12,100 shares of INCY which is valued at $941,138. Incyte Corporation makes up approx 0.04% of Livforsakringsbolaget Skandia Omsesidigt’s portfolio.Foundry Partners reduced its stake in INCY by selling 11,045 shares or 56.02% in the most recent quarter. The Hedge Fund company now holds 8,670 shares of INCY which is valued at $657,273. Incyte Corporation makes up approx 0.07% of Foundry Partners’s portfolio.
On the company’s financial health, Incyte Corporation reported $0.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.20 according to the earnings call on Feb 11, 2016. Analyst had a consensus of $0.09. The company had revenue of $243.88 million for the quarter, compared to analysts expectations of $225.69 million. The company’s revenue was up 96.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.22 EPS.
Many Wall Street Analysts have commented on Incyte Corporation. Shares were Reiterated by Leerink Partners on Mar 30, 2016 to “Outperform” and Lowered the Price Target to $ 85 from a previous price target of $94 .Incyte Corporation was Initiated by Morgan Stanley to “Overweight” on Mar 23, 2016. Shares were Reiterated by Argus on Feb 22, 2016 to “Buy” and Lowered the Price Target to $ 92 from a previous price target of $135 .
Incyte Corporation is a biopharmaceutical company focused on the discovery development and commercialization of small molecule drugs to treat serious unmet medical needs. The Company’s compound JAKAFI (ruxolitinib) also known as INCB18424 and INC424 is an oral Janus associated kinase (JAK) inhibitor used for the treatment for patients with intermediate or highrisk myelofibrosis (MF) including primary MF postpolycythemia vera MF and postessential thrombocythemia MF. The Company has a second oral JAK1 and JAK2 inhibitor LY3009104 (INCB28050) which is subject to a collaboration agreement with Eli Lilly and Company in which Lilly received development and commercialization rights f