Assenagon Asset Management S.A. Has $368,000 Position in Incyte Co. (NASDAQ:INCY)

Assenagon Asset Management S.A. reduced its position in shares of Incyte Co. (NASDAQ:INCY) by 99.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,065 shares of the biopharmaceutical company’s stock after selling 572,356 shares during the period. Assenagon Asset Management S.A.’s holdings in Incyte were worth $368,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new stake in Incyte during the 4th quarter worth approximately $264,000. Cerity Partners LLC bought a new stake in shares of Incyte in the fourth quarter worth $316,000. Louisiana State Employees Retirement System acquired a new stake in Incyte in the fourth quarter valued at $703,000. abrdn plc increased its holdings in Incyte by 112.7% in the fourth quarter. abrdn plc now owns 146,427 shares of the biopharmaceutical company’s stock valued at $9,194,000 after purchasing an additional 77,574 shares during the period. Finally, Signaturefd LLC raised its position in Incyte by 17.2% during the 4th quarter. Signaturefd LLC now owns 2,880 shares of the biopharmaceutical company’s stock worth $181,000 after purchasing an additional 423 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 19,164 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total value of $1,149,840.00. Following the transaction, the executive vice president now directly owns 66,377 shares of the company’s stock, valued at $3,982,620. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Barry P. Flannelly sold 19,164 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total transaction of $1,149,840.00. Following the completion of the sale, the executive vice president now directly owns 66,377 shares of the company’s stock, valued at $3,982,620. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Vijay K. Iyengar sold 15,571 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $70.00, for a total transaction of $1,089,970.00. Following the completion of the transaction, the executive vice president now directly owns 36,701 shares in the company, valued at approximately $2,569,070. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,282 shares of company stock worth $2,876,911. 17.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on INCY shares. Citigroup upped their price target on Incyte from $80.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Truist Financial reissued a “buy” rating and set a $83.00 target price (down previously from $84.00) on shares of Incyte in a research report on Wednesday, May 1st. Oppenheimer reduced their price objective on shares of Incyte from $84.00 to $81.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Finally, TD Cowen cut their price target on shares of Incyte from $88.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $73.29.

Incyte Stock Up 1.8 %

INCY stock opened at $64.14 on Friday. The stock’s 50 day simple moving average is $62.87 and its 200 day simple moving average is $59.00. The company has a market cap of $14.40 billion, a P/E ratio of 19.44, a price-to-earnings-growth ratio of 1.14 and a beta of 0.73. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.43 and a current ratio of 1.92. Incyte Co. has a fifty-two week low of $50.27 and a fifty-two week high of $70.36.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing the consensus estimate of $0.78 by ($2.60). Incyte had a net margin of 2.52% and a return on equity of 0.75%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. The company’s revenue was up 9.3% compared to the same quarter last year. On average, research analysts expect that Incyte Co. will post 3.35 earnings per share for the current fiscal year.

Incyte Company Profile

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.