FinTrust Capital Advisors LLC Makes New $422,000 Investment in Incyte Co. (NASDAQ:INCY)

FinTrust Capital Advisors LLC purchased a new position in Incyte Co. (NASDAQ:INCY) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,964 shares of the biopharmaceutical company’s stock, valued at approximately $422,000.

Other large investors also recently bought and sold shares of the company. ETF Managers Group LLC grew its holdings in shares of Incyte by 9.8% during the first quarter. ETF Managers Group LLC now owns 1,717 shares of the biopharmaceutical company’s stock valued at $148,000 after buying an additional 153 shares during the last quarter. World Asset Management Inc grew its holdings in shares of Incyte by 1.5% during the second quarter. World Asset Management Inc now owns 11,545 shares of the biopharmaceutical company’s stock valued at $981,000 after buying an additional 174 shares during the last quarter. Hartford Investment Management Co. grew its holdings in shares of Incyte by 1.1% during the second quarter. Hartford Investment Management Co. now owns 19,482 shares of the biopharmaceutical company’s stock valued at $1,655,000 after buying an additional 206 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Incyte by 2.2% during the first quarter. Janney Montgomery Scott LLC now owns 10,157 shares of the biopharmaceutical company’s stock valued at $874,000 after buying an additional 221 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD grew its holdings in shares of Incyte by 1.9% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 12,184 shares of the biopharmaceutical company’s stock valued at $1,047,000 after buying an additional 222 shares during the last quarter. Institutional investors and hedge funds own 90.47% of the company’s stock.

In other news, EVP Steven H. Stein sold 8,357 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $87.96, for a total value of $735,081.72. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Barry P. Flannelly sold 959 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $79.91, for a total transaction of $76,633.69. The disclosure for this sale can be found here. In the last three months, insiders sold 116,040 shares of company stock worth $9,627,376. Insiders own 17.10% of the company’s stock.

INCY stock traded down $0.06 during mid-day trading on Thursday, hitting $81.00. The company had a trading volume of 26,401 shares, compared to its average volume of 1,175,418. The stock has a market cap of $17.74 billion, a price-to-earnings ratio of 98.74 and a beta of 1.12. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.59 and a current ratio of 5.61. Incyte Co. has a 12 month low of $57.00 and a 12 month high of $89.30. The firm’s fifty day moving average is $82.50.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.38 by $0.37. Incyte had a net margin of 15.25% and a return on equity of 17.10%. The business had revenue of $529.93 million for the quarter, compared to analyst estimates of $498.57 million. During the same quarter in the previous year, the firm posted $0.63 earnings per share. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, sell-side analysts forecast that Incyte Co. will post 1.98 EPS for the current year.

A number of research analysts have recently issued reports on the stock. Cowen reiterated a “buy” rating on shares of Incyte in a report on Sunday, August 4th. Zacks Investment Research cut shares of Incyte from a “strong-buy” rating to a “hold” rating in a report on Monday, April 29th. Credit Suisse Group assumed coverage on shares of Incyte in a report on Monday, May 20th. They set a “neutral” rating and a $75.00 price objective for the company. JPMorgan Chase & Co. reiterated a “buy” rating and set a $91.00 price objective on shares of Incyte in a report on Wednesday, July 31st. Finally, Piper Jaffray Companies reiterated a “buy” rating on shares of Incyte in a report on Monday, June 17th. Twelve equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Incyte presently has a consensus rating of “Buy” and a consensus price target of $89.67.

Incyte Company Profile

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

Further Reading: Put Option Volume

Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

Receive News & Ratings for Incyte Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte and related companies with MarketBeat.com's FREE daily email newsletter.