Intech Investment Management LLC Sells 40,728 Shares of Incyte Co. (NASDAQ:INCY)

Intech Investment Management LLC lowered its position in Incyte Co. (NASDAQ:INCY) by 31.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,678 shares of the biopharmaceutical company’s stock after selling 40,728 shares during the quarter. Intech Investment Management LLC’s holdings in Incyte were worth $5,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Norges Bank bought a new stake in Incyte in the fourth quarter worth $123,253,000. LSV Asset Management increased its stake in shares of Incyte by 119.6% in the fourth quarter. LSV Asset Management now owns 2,691,827 shares of the biopharmaceutical company’s stock worth $169,020,000 after buying an additional 1,465,792 shares during the period. Pacer Advisors Inc. raised its holdings in Incyte by 2,858.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,025,784 shares of the biopharmaceutical company’s stock valued at $64,409,000 after buying an additional 991,110 shares during the last quarter. Acadian Asset Management LLC boosted its position in Incyte by 56.6% during the 3rd quarter. Acadian Asset Management LLC now owns 2,684,621 shares of the biopharmaceutical company’s stock valued at $155,053,000 after buying an additional 970,668 shares during the period. Finally, Federated Hermes Inc. increased its position in shares of Incyte by 145.2% in the third quarter. Federated Hermes Inc. now owns 864,710 shares of the biopharmaceutical company’s stock valued at $49,954,000 after acquiring an additional 512,083 shares during the period. 96.97% of the stock is currently owned by institutional investors.

Incyte Stock Performance

Shares of INCY traded down $0.14 during trading hours on Friday, hitting $57.31. The stock had a trading volume of 1,966,856 shares, compared to its average volume of 2,609,557. The firm has a market capitalization of $12.87 billion, a PE ratio of 17.37, a PEG ratio of 1.76 and a beta of 0.69. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.47 and a quick ratio of 3.43. Incyte Co. has a 12 month low of $50.27 and a 12 month high of $67.36. The stock has a fifty day moving average price of $55.09 and a 200 day moving average price of $57.72.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, April 30th. The biopharmaceutical company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.31). Incyte had a net margin of 19.78% and a return on equity of 12.83%. The business had revenue of $880.89 million for the quarter, compared to the consensus estimate of $935.85 million. Analysts anticipate that Incyte Co. will post 3.66 EPS for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Truist Financial reissued a “buy” rating and issued a $83.00 target price (down from $84.00) on shares of Incyte in a research note on Wednesday, May 1st. Citigroup cut their target price on shares of Incyte from $82.00 to $81.00 and set a “buy” rating on the stock in a research note on Wednesday, February 14th. Royal Bank of Canada restated a “sector perform” rating and issued a $65.00 price objective on shares of Incyte in a report on Monday, March 25th. Jefferies Financial Group initiated coverage on Incyte in a report on Friday, February 23rd. They set a “buy” rating and a $81.00 target price on the stock. Finally, Bank of America dropped their price target on Incyte from $69.00 to $67.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 13th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $73.69.

About Incyte

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.