Royal London Asset Management Ltd. Boosts Stock Position in Incyte Co. (NASDAQ:INCY)

Royal London Asset Management Ltd. grew its holdings in shares of Incyte Co. (NASDAQ:INCY) by 152.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 182,852 shares of the biopharmaceutical company’s stock after buying an additional 110,360 shares during the period. Royal London Asset Management Ltd. owned 0.09% of Incyte worth $11,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Natixis Advisors L.P. acquired a new position in shares of Incyte in the 4th quarter valued at $780,000. Dimensional Fund Advisors LP grew its holdings in shares of Incyte by 7.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 950,626 shares of the biopharmaceutical company’s stock worth $59,689,000 after purchasing an additional 62,380 shares during the last quarter. Ieq Capital LLC increased its position in shares of Incyte by 10.1% during the fourth quarter. Ieq Capital LLC now owns 6,978 shares of the biopharmaceutical company’s stock worth $438,000 after purchasing an additional 642 shares in the last quarter. Westpac Banking Corp lifted its holdings in shares of Incyte by 63.8% in the 4th quarter. Westpac Banking Corp now owns 3,102 shares of the biopharmaceutical company’s stock valued at $195,000 after purchasing an additional 1,208 shares during the last quarter. Finally, M&G Investment Management Ltd. boosted its position in shares of Incyte by 8.5% in the 4th quarter. M&G Investment Management Ltd. now owns 95,752 shares of the biopharmaceutical company’s stock valued at $6,032,000 after purchasing an additional 7,532 shares during the period. 96.97% of the stock is owned by institutional investors and hedge funds.

Incyte Trading Up 0.4 %

Shares of INCY stock opened at $63.36 on Friday. The business’s fifty day moving average price is $63.74 and its 200 day moving average price is $59.55. The firm has a market capitalization of $14.23 billion, a PE ratio of 19.20, a P/E/G ratio of 4.88 and a beta of 0.73. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.92 and a quick ratio of 1.84. Incyte Co. has a 1-year low of $50.27 and a 1-year high of $70.36.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). Incyte had a return on equity of 0.75% and a net margin of 2.52%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the company earned $0.77 earnings per share. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Incyte Co. will post 0.67 EPS for the current fiscal year.

Insider Buying and Selling at Incyte

In other news, EVP Barry P. Flannelly sold 8,148 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $60.00, for a total transaction of $488,880.00. Following the sale, the executive vice president now owns 50,534 shares of the company’s stock, valued at approximately $3,032,040. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Barry P. Flannelly sold 8,148 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $60.00, for a total value of $488,880.00. Following the completion of the transaction, the executive vice president now directly owns 50,534 shares of the company’s stock, valued at approximately $3,032,040. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Vijay K. Iyengar sold 15,571 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $70.00, for a total value of $1,089,970.00. Following the sale, the executive vice president now owns 36,701 shares in the company, valued at $2,569,070. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,025 shares of company stock valued at $1,662,682. Corporate insiders own 17.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Deutsche Bank Aktiengesellschaft lifted their price target on Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. increased their price target on shares of Incyte from $59.00 to $61.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. William Blair restated an “outperform” rating on shares of Incyte in a research note on Monday. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a research note on Monday. Finally, Citigroup raised their price target on Incyte from $80.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $73.29.

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.