Baker Bros. Advisors Lp buys $1,904,550,183 stake in Incyte Corporation (INCY)

Incyte Corporation (INCY) : Baker Bros. Advisors Lp scooped up 4,023,144 additional shares in Incyte Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 23,498,460 shares of Incyte Corporation which is valued at $1,904,550,183.Incyte Corporation makes up approximately 21.26% of Baker Bros. Advisors Lp’s portfolio.

Other Hedge Funds, Including , Envestnet Asset Management Inc boosted its stake in INCY in the latest quarter, The investment management firm added 4,745 additional shares and now holds a total of 8,027 shares of Incyte Corporation which is valued at $650,588.New York State Common Retirement Fund reduced its stake in INCY by selling 39,926 shares or 4.74% in the most recent quarter. The Hedge Fund company now holds 802,800 shares of INCY which is valued at $65,066,940. Incyte Corporation makes up approx 0.09% of New York State Common Retirement Fund’s portfolio.Bnp Paribas Investment Partners S.a. reduced its stake in INCY by selling 56,739 shares or 80.05% in the most recent quarter. The Hedge Fund company now holds 14,142 shares of INCY which is valued at $1,148,472. Incyte Corporation makes up approx 0.01% of Bnp Paribas Investment Partners S.a.’s portfolio.Grandfield Dodd boosted its stake in INCY in the latest quarter, The investment management firm added 199 additional shares and now holds a total of 6,433 shares of Incyte Corporation which is valued at $580,321. Incyte Corporation makes up approx 0.08% of Grandfield Dodd’s portfolio.

Incyte Corporation closed down -0.29 points or -0.36% at $80.81 with 6,70,199 shares getting traded on Thursday. Post opening the session at $81.61, the shares hit an intraday low of $79.89 and an intraday high of $81.73 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Incyte Corporation reported $0.18 EPS for the quarter, beating the analyst consensus estimate by $ 0.20 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $-0.02. The company had revenue of $246.30 million for the quarter, compared to analysts expectations of $232.33 million. The company’s revenue was up 51.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.05 EPS.

Many Wall Street Analysts have commented on Incyte Corporation. Company shares were Reiterated by Barclays on Aug 10, 2016 to “Overweight”, Firm has raised the Price Target to $ 100 from a previous price target of $85 .Company shares were Reiterated by Leerink Partners on Aug 10, 2016 to “Outperform”, Firm has raised the Price Target to $ 95 from a previous price target of $85 .Incyte Corporation was Initiated by SunTrust to “Buy” on Aug 5, 2016.

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

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *