Veriti Management LLC raised its holdings in shares of Incyte Co. (NASDAQ:INCY – Get Rating) by 4.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,630 shares of the biopharmaceutical company's stock after buying an additional 590 shares during the period. Veriti Management LLC's holdings in Incyte were worth $1,111,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Parkside Financial Bank & Trust increased its holdings in Incyte by 91.0% during the first quarter. Parkside Financial Bank & Trust now owns 447 shares of the biopharmaceutical company's stock valued at $36,000 after buying an additional 213 shares during the last quarter. Ellevest Inc. increased its stake in shares of Incyte by 210.1% in the first quarter. Ellevest Inc. now owns 673 shares of the biopharmaceutical company's stock worth $53,000 after purchasing an additional 456 shares in the last quarter. CKW Financial Group increased its stake in shares of Incyte by 33.3% in the first quarter. CKW Financial Group now owns 800 shares of the biopharmaceutical company's stock worth $64,000 after purchasing an additional 200 shares in the last quarter. Newfound Research LLC purchased a new stake in shares of Incyte in the second quarter worth $67,000. Finally, Tobam increased its stake in shares of Incyte by 53.3% in the first quarter. Tobam now owns 892 shares of the biopharmaceutical company's stock worth $71,000 after purchasing an additional 310 shares in the last quarter. 94.74% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Incyte

In other news, insider Thomas Tray sold 1,564 shares of the firm's stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $83.13, for a total value of $130,015.32. Following the completion of the sale, the insider now owns 17,702 shares in the company, valued at approximately $1,471,567.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Thomas Tray sold 1,564 shares of the firm's stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $83.13, for a total value of $130,015.32. Following the completion of the sale, the insider now owns 17,702 shares in the company, valued at approximately $1,471,567.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Vijay K. Iyengar sold 5,787 shares of the firm's stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $79.38, for a total transaction of $459,372.06. Following the completion of the sale, the executive vice president now owns 40,313 shares of the company's stock, valued at approximately $3,200,045.94. The disclosure for this sale can be found here. Company insiders own 17.50% of the company's stock.

Wall Street Analysts Forecast Growth

Incyte Price Performance

INCY stock opened at $66.18 on Tuesday. Incyte Co. has a 52 week low of $61.91 and a 52 week high of $84.86. The company has a quick ratio of 3.85, a current ratio of 3.91 and a debt-to-equity ratio of 0.01. The company has a fifty day simple moving average of $73.08 and a two-hundred day simple moving average of $75.34. The firm has a market capitalization of $14.72 billion, a P/E ratio of 15.57, a price-to-earnings-growth ratio of 1.09 and a beta of 0.66.

Incyte (NASDAQ:INCY – Get Rating) last released its quarterly earnings data on Tuesday, August 2nd. The biopharmaceutical company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.61 by $0.24. Incyte had a net margin of 28.46% and a return on equity of 13.02%. The business had revenue of $911.40 million during the quarter, compared to analyst estimates of $818.25 million. During the same quarter last year, the business earned $0.65 earnings per share. Incyte's quarterly revenue was up 29.1% compared to the same quarter last year. Analysts anticipate that Incyte Co. will post 2.45 earnings per share for the current fiscal year.

About Incyte

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Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States and internationally. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in various liquid and solid tumor types; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

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