Ct Financial Advisors Lowers stake in Incyte Corporation (INCY)

Incyte Corporation (INCY) : Ct Financial Advisors reduced its stake in Incyte Corporation by 1.65% during the most recent quarter end. The investment management company now holds a total of 9,838 shares of Incyte Corporation which is valued at $906,178 after selling 165 shares in Incyte Corporation , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Incyte Corporation makes up approximately 0.57% of Ct Financial Advisors’s portfolio.

Other Hedge Funds, Including , Atria Investments boosted its stake in INCY in the latest quarter, The investment management firm added 852 additional shares and now holds a total of 3,450 shares of Incyte Corporation which is valued at $317,780. Incyte Corporation makes up approx 0.03% of Atria Investments’s portfolio. Oregon Public Employees Retirement Fund sold out all of its stake in INCY during the most recent quarter. The investment firm sold 100 shares of INCY which is valued $9,595.Bnp Paribas Arbitrage Sa boosted its stake in INCY in the latest quarter, The investment management firm added 82,757 additional shares and now holds a total of 101,440 shares of Incyte Corporation which is valued at $9,706,794. Incyte Corporation makes up approx 0.04% of Bnp Paribas Arbitrage Sa’s portfolio.Lau Associates boosted its stake in INCY in the latest quarter, The investment management firm added 9 additional shares and now holds a total of 11,929 shares of Incyte Corporation which is valued at $1,141,486. Incyte Corporation makes up approx 1.16% of Lau Associates’s portfolio.

Incyte Corporation closed down -3.84 points or -4.00% at $92.11 with 19,38,127 shares getting traded on Tuesday. Post opening the session at $95.41, the shares hit an intraday low of $89.8 and an intraday high of $96.345 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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 RBC Capital Mkts on Oct 12, 2016 to “Outperform”, Firm has raised the Price Target to $ 113 from a previous price target of $106 .Incyte Corporation was Upgraded by Raymond James to ” Outperform” on Sep 29, 2016. 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 .

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

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