Incyte Corporation (INCY) : Simplex Trading added new position in Incyte Corporation during the most recent quarter end. The investment management firm now holds 21,890 shares of Incyte Corporation which is valued at $2,141,499 , the company said in a statement filed on Oct 7, 2016 with the SEC.Incyte Corporation makes up approximately 0.28% of Simplex Trading’s portfolio.
Other Hedge Funds, Including , Advisory Services Network added INCY to its portfolio by purchasing 49 company shares during the most recent quarter which is valued at $4,794. Washington Trust Bank added INCY to its portfolio by purchasing 24 company shares during the most recent quarter which is valued at $2,297.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 opened for trading at $96 and hit $98.08 on the upside on Friday, eventually ending the session at $97.83, with a gain of 3.22% or 3.05 points. The heightened volatility saw the trading volume jump to 28,63,170 shares. Company has a market cap of $18,392 M.
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. 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 .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 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