Russell Investments Group Ltd. Has $58.90 Million Stake in Incyte Co. (NASDAQ:INCY)

Russell Investments Group Ltd. grew its stake in Incyte Co. (NASDAQ:INCY) by 7.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,033,557 shares of the biopharmaceutical company’s stock after purchasing an additional 70,467 shares during the period. Russell Investments Group Ltd. owned approximately 0.46% of Incyte worth $58,901,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Norges Bank bought a new stake in Incyte during the 4th quarter worth about $123,253,000. LSV Asset Management lifted its holdings in Incyte by 119.6% during the fourth quarter. LSV Asset Management now owns 2,691,827 shares of the biopharmaceutical company’s stock worth $169,020,000 after acquiring an additional 1,465,792 shares in the last quarter. Pacer Advisors Inc. lifted its stake in 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 buying an additional 991,110 shares in the last quarter. KBC Group NV lifted its holdings in shares of Incyte by 842.2% in the fourth quarter. KBC Group NV now owns 955,749 shares of the biopharmaceutical company’s stock valued at $60,011,000 after purchasing an additional 854,311 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in Incyte by 37.1% in the 4th quarter. Los Angeles Capital Management LLC now owns 1,570,296 shares of the biopharmaceutical company’s stock valued at $98,599,000 after acquiring an additional 424,934 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on INCY. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $65.00 target price on shares of Incyte in a research report on Monday, March 25th. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a report on Tuesday, June 18th. BMO Capital Markets reiterated an “underperform” rating and issued a $48.00 price objective (down previously from $52.00) on shares of Incyte in a research note on Tuesday, July 2nd. TD Cowen cut their target price on Incyte from $88.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Finally, Oppenheimer decreased their target price on shares of Incyte from $92.00 to $84.00 and set an “outperform” rating on the stock in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $73.44.

Incyte Trading Up 0.5 %

INCY traded up $0.29 during trading on Wednesday, reaching $64.29. 306,747 shares of the stock traded hands, compared to its average volume of 2,566,331. The stock’s 50-day moving average is $59.31 and its 200 day moving average is $58.56. Incyte Co. has a 12 month low of $50.27 and a 12 month high of $67.36. The company has a quick ratio of 3.43, a current ratio of 3.47 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $14.44 billion, a PE ratio of 19.39, a P/E/G ratio of 1.38 and a beta of 0.73.

Incyte (NASDAQ:INCY) last released 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). The company had revenue of $880.89 million for the quarter, compared to the consensus estimate of $935.85 million. Incyte had a return on equity of 12.83% and a net margin of 19.78%. Equities analysts anticipate that Incyte Co. will post 3.57 earnings per share for the current year.

Insider Transactions at Incyte

In other Incyte news, insider Thomas Tray sold 1,093 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $58.91, for a total value of $64,388.63. Following the completion of 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 SEC, which is available at this link. In other news, EVP Barry P. Flannelly sold 19,164 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $60.00, for a total transaction of $1,149,840.00. Following the completion of the transaction, the executive vice president now owns 66,377 shares in the company, valued at approximately $3,982,620. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas Tray sold 1,093 shares of Incyte stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $58.91, for a total transaction of $64,388.63. Following the completion of the transaction, the insider now owns 21,634 shares of the company’s stock, valued at approximately $1,274,458.94. The disclosure for this sale can be found here. Insiders sold a total of 28,405 shares of company stock valued at $1,703,109 over the last ninety days. 17.50% of the stock is currently owned by insiders.

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.