LSV Asset Management Purchases 62,950 Shares of Incyte Co. (NASDAQ:INCY)

LSV Asset Management increased its position in shares of Incyte Co. (NASDAQ:INCY) by 2.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,754,777 shares of the biopharmaceutical company’s stock after buying an additional 62,950 shares during the quarter. LSV Asset Management owned 1.23% of Incyte worth $156,940,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of INCY. Vanguard Group Inc. raised its holdings in shares of Incyte by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 22,519,381 shares of the biopharmaceutical company’s stock valued at $1,413,992,000 after purchasing an additional 359,962 shares during the last quarter. Norges Bank acquired a new stake in Incyte in the 4th quarter valued at $123,253,000. Los Angeles Capital Management LLC lifted its position in Incyte by 37.1% during the 4th quarter. Los Angeles Capital Management LLC now owns 1,570,296 shares of the biopharmaceutical company’s stock worth $98,599,000 after buying an additional 424,934 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Incyte by 7.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,326,814 shares of the biopharmaceutical company’s stock worth $83,311,000 after buying an additional 97,614 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position in shares of Incyte by 2,858.4% in the fourth quarter. Pacer Advisors Inc. now owns 1,025,784 shares of the biopharmaceutical company’s stock valued at $64,409,000 after acquiring an additional 991,110 shares during the last quarter. 96.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Thomas Tray sold 1,093 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $58.91, for a total transaction of $64,388.63. Following the sale, the insider now owns 21,634 shares in the company, valued at approximately $1,274,458.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Barry P. Flannelly sold 8,148 shares of the stock in a transaction that occurred on Tuesday, July 9th. The shares were 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 owns 50,534 shares of the company’s stock, valued at approximately $3,032,040. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Thomas Tray sold 1,093 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $58.91, for a total transaction of $64,388.63. Following the sale, the insider now directly owns 21,634 shares in the company, valued at approximately $1,274,458.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,405 shares of company stock worth $1,703,109. Company insiders own 17.50% of the company’s stock.

Incyte Stock Performance

NASDAQ:INCY traded up $1.37 during mid-day trading on Friday, reaching $63.66. 1,934,888 shares of the company’s stock were exchanged, compared to its average volume of 2,599,158. Incyte Co. has a one year low of $50.27 and a one year high of $67.36. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.43 and a current ratio of 3.47. The business’s fifty day simple moving average is $58.72 and its two-hundred day simple moving average is $58.59. The firm has a market capitalization of $14.29 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of 1.31 and a beta of 0.73.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.31). The business had revenue of $880.89 million during the quarter, compared to analyst estimates of $935.85 million. Incyte had a net margin of 19.78% and a return on equity of 12.83%. Analysts anticipate that Incyte Co. will post 3.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on INCY. Oppenheimer reduced their price target on Incyte from $92.00 to $84.00 and set an “outperform” rating for the company in a research report on Wednesday, April 24th. TD Cowen decreased their target price on shares of Incyte from $88.00 to $80.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research report on Tuesday, June 18th. Royal Bank of Canada reissued a “sector perform” rating and issued a $65.00 price objective on shares of Incyte in a research report on Monday, March 25th. Finally, StockNews.com cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Incyte currently has an average rating of “Hold” and a consensus price target of $73.44.

Incyte 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.