Incyte Corporation (INCY) : Rtw Investments added new position in Incyte Corporation during the most recent quarter end. The investment management firm now holds 379,415 shares of Incyte Corporation which is valued at $27.8 Million , the company said in a statement filed on May 11, 2016 with the SEC.Incyte Corporation makes up approximately 11.14% of Rtw Investments’s portfolio.
Other Hedge Funds, Including , Shell Asset Management Co reduced its stake in INCY by selling 11,576 shares or 58.32% in the most recent quarter. The Hedge Fund company now holds 8,272 shares of INCY which is valued at $605,593. Incyte Corporation makes up approx 0.01% of Shell Asset Management Co’s portfolio.Blackrock Advisors reduced its stake in INCY by selling 470,188 shares or 50.96% in the most recent quarter. The Hedge Fund company now holds 452,482 shares of INCY which is valued at $33.1 Million. Incyte Corporation makes up approx 0.04% of Blackrock Advisors’s portfolio.Nationwide Fund Advisors reduced its stake in INCY by selling 89,310 shares or 52.35% in the most recent quarter. The Hedge Fund company now holds 81,306 shares of INCY which is valued at $5.7 Million. Incyte Corporation makes up approx 0.02% of Nationwide Fund Advisors’s portfolio. Quantitative Investment Management added INCY to its portfolio by purchasing 26,500 company shares during the most recent quarter which is valued at $1.9 Million. Incyte Corporation makes up approx 0.09% of Quantitative Investment Management’s portfolio.Russell Frank Co boosted its stake in INCY in the latest quarter, The investment management firm added 84,207 additional shares and now holds a total of 116,360 shares of Incyte Corporation which is valued at $8.4 Million. Incyte Corporation makes up approx 0.01% of Russell Frank Co’s portfolio.
Incyte Corporation opened for trading at $73.08 and hit $76.81 on the upside on Monday, eventually ending the session at $76.47, with a gain of 4.45% or 3.26 points. The heightened volatility saw the trading volume jump to 13,47,948 shares. Company has a market cap of $14,347 M.
On the company’s financial health, Incyte Corporation reported $0.12 EPS for the quarter, based on the information available during the earnings call on May 9, 2016. Analyst had a consensus estimate of $0.12. The company had revenue of $263.50 million for the quarter, compared to analysts expectations of $264.41 million. The company’s revenue was up 65.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.11 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