LSV Asset Management Sells 52,339 Shares of Incyte Corporation $INCY

LSV Asset Management trimmed its position in Incyte Corporation (NASDAQ:INCY) by 1.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 3,933,758 shares of the biopharmaceutical company’s stock after selling 52,339 shares during the period. Incyte comprises approximately 0.8% of LSV Asset Management’s holdings, making the stock its 23rd largest holding. LSV Asset Management’s holdings in Incyte were worth $388,537,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership boosted its position in Incyte by 13.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,103,946 shares of the biopharmaceutical company’s stock valued at $263,246,000 after buying an additional 373,298 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Incyte by 7.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,480,793 shares of the biopharmaceutical company’s stock valued at $245,028,000 after buying an additional 161,405 shares during the last quarter. Man Group plc boosted its position in Incyte by 20.0% in the 3rd quarter. Man Group plc now owns 1,933,547 shares of the biopharmaceutical company’s stock valued at $163,984,000 after buying an additional 322,877 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Incyte by 34.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,743,794 shares of the biopharmaceutical company’s stock valued at $147,891,000 after buying an additional 448,911 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Incyte by 3.8% in the 3rd quarter. Northern Trust Corp now owns 1,722,016 shares of the biopharmaceutical company’s stock valued at $146,044,000 after buying an additional 62,764 shares during the last quarter. 96.97% of the stock is currently owned by institutional investors.

Incyte Stock Down 0.3%

NASDAQ:INCY opened at $97.16 on Friday. Incyte Corporation has a 12-month low of $63.51 and a 12-month high of $112.29. The company has a quick ratio of 3.60, a current ratio of 3.68 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $19.41 billion, a P/E ratio of 13.72, a P/E/G ratio of 0.93 and a beta of 0.79. The stock’s fifty day simple moving average is $95.41 and its 200-day simple moving average is $99.64.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.43. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.22 billion. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The firm’s revenue was up 20.9% on a year-over-year basis. During the same period last year, the company earned $1.16 EPS. Equities research analysts expect that Incyte Corporation will post 6.74 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on INCY. UBS Group reduced their price target on Incyte from $104.00 to $94.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 25th. Royal Bank Of Canada reduced their price target on Incyte from $95.00 to $92.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 11th. Weiss Ratings upgraded Incyte from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, April 1st. HC Wainwright restated a “buy” rating and issued a $135.00 price target on shares of Incyte in a research report on Thursday. Finally, Oppenheimer raised their price target on Incyte from $84.00 to $90.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 29th. Ten research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $104.00.

Insiders Place Their Bets

In other Incyte news, insider Pablo J. Cagnoni sold 18,667 shares of Incyte stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $96.50, for a total transaction of $1,801,365.50. Following the transaction, the insider directly owned 262,692 shares in the company, valued at approximately $25,349,778. The trade was a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 16.20% of the company’s stock.

Incyte Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.