Gyroscope Capital Management Group Lowers stake in Incyte Corporation (INCY)

Incyte Corporation (INCY) : Gyroscope Capital Management Group reduced its stake in Incyte Corporation by 40.9% during the most recent quarter end. The investment management company now holds a total of 25,284 shares of Incyte Corporation which is valued at $2,053,314 after selling 17,500 shares in Incyte Corporation , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Incyte Corporation makes up approximately 1.61% of Gyroscope Capital Management Group’s portfolio.

Other Hedge Funds, Including , 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.Utah Retirement Systems boosted its stake in INCY in the latest quarter, The investment management firm added 1,600 additional shares and now holds a total of 29,700 shares of Incyte Corporation which is valued at $2,697,057. Incyte Corporation makes up approx 0.07% of Utah Retirement Systems’s portfolio. Quantitative Investment Management sold out all of its stake in INCY during the most recent quarter. The investment firm sold 26,500 shares of INCY which is valued $2,406,465.Mizuho Trust Banking Ltd. boosted its stake in INCY in the latest quarter, The investment management firm added 4,489 additional shares and now holds a total of 262,078 shares of Incyte Corporation which is valued at $23,799,303. Incyte Corporation makes up approx 0.07% of Mizuho Trust Banking Ltd.’s portfolio.Pitcairn Co boosted its stake in INCY in the latest quarter, The investment management firm added 1,302 additional shares and now holds a total of 4,098 shares of Incyte Corporation which is valued at $363,575. Incyte Corporation makes up approx 0.05% of Pitcairn Co’s portfolio.

Incyte Corporation closed down -0.5 points or -0.62% at $80.55 with 9,88,489 shares getting traded on Monday. Post opening the session at $81.05, the shares hit an intraday low of $80.5 and an intraday high of $81.56 and the price fluctuated in this range throughout the day.Shares ended Monday 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

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