Incyte Corporation (INCY) : Tekla Capital Management scooped up 76,000 additional shares in Incyte Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 9, 2016. The investment management firm now holds a total of 956,461 shares of Incyte Corporation which is valued at $70,022,510.Incyte Corporation makes up approximately 3.06% of Tekla Capital Management’s portfolio.
Other Hedge Funds, Including , Airain Ltd sold out all of its stake in INCY during the most recent quarter. The investment firm sold 10,844 shares of INCY which is valued $793,889. Evercore Wealth Management added INCY to its portfolio by purchasing 89 company shares during the most recent quarter which is valued at $6,291.Nisa Investment Advisors L.l.c. reduced its stake in INCY by selling 1,600 shares or 48.48% in the most recent quarter. The Hedge Fund company now holds 1,700 shares of INCY which is valued at $122,859.Nordea Investment Management Ab boosted its stake in INCY in the latest quarter, The investment management firm added 213 additional shares and now holds a total of 4,150 shares of Incyte Corporation which is valued at $299,921.
Incyte Corporation opened for trading at $70.27 and hit $73.31 on the upside on Friday, eventually ending the session at $73.21, with a gain of 3.79% or 2.67 points. The heightened volatility saw the trading volume jump to 8,58,058 shares. Company has a market cap of $13,736 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