Incyte Corporation $INCY Stock Position Decreased by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. reduced its position in Incyte Corporation (NASDAQ:INCY) by 9.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,200,605 shares of the biopharmaceutical company’s stock after selling 241,130 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Incyte were worth $267,043,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of INCY. Greenleaf Trust raised its holdings in Incyte by 2.8% during the second quarter. Greenleaf Trust now owns 3,358 shares of the biopharmaceutical company’s stock worth $381,000 after purchasing an additional 93 shares during the last quarter. 180 Wealth Advisors LLC grew its holdings in Incyte by 2.0% in the first quarter. 180 Wealth Advisors LLC now owns 6,877 shares of the biopharmaceutical company’s stock valued at $647,000 after purchasing an additional 132 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in Incyte by 0.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 36,343 shares of the biopharmaceutical company’s stock valued at $3,590,000 after purchasing an additional 134 shares during the last quarter. Mather Group LLC. grew its holdings in Incyte by 13.5% in the third quarter. Mather Group LLC. now owns 1,157 shares of the biopharmaceutical company’s stock valued at $140,000 after purchasing an additional 138 shares during the last quarter. Finally, Tema ETFs LLC grew its holdings in Incyte by 5.7% in the second quarter. Tema ETFs LLC now owns 2,704 shares of the biopharmaceutical company’s stock valued at $307,000 after purchasing an additional 145 shares during the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Patrick Mayes sold 41,899 shares of the business’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $119.46, for a total value of $5,005,254.54. Following the completion of the transaction, the executive vice president directly owned 61,441 shares of the company’s stock, valued at $7,339,741.86. The trade was a 40.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Pablo Cagnoni sold 10,801 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $125.56, for a total value of $1,356,173.56. Following the completion of the sale, the insider owned 183,200 shares in the company, valued at $23,002,592. This represents a 5.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 55,342 shares of company stock valued at $6,659,208. Insiders own 16.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on INCY shares. Weiss Ratings upgraded Incyte from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Royal Bank Of Canada boosted their price objective on shares of Incyte from $109.00 to $114.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 8th. Citigroup reissued a “buy” rating on shares of Incyte in a research note on Monday, August 3rd. HC Wainwright reissued a “buy” rating and issued a $152.00 price objective on shares of Incyte in a research note on Tuesday, October 13th. Finally, Mizuho raised their target price on shares of Incyte from $121.00 to $137.00 and gave the company an “outperform” rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $129.33.

Incyte Price Performance

Shares of Incyte stock opened at $116.61 on Wednesday. Incyte Corporation has a 1 year low of $84.02 and a 1 year high of $132.60. The business has a 50 day moving average price of $121.70 and a 200 day moving average price of $111.20. The company has a market capitalization of $23.64 billion, a P/E ratio of 14.26, a P/E/G ratio of 4.05 and a beta of 0.74.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, July 28th. The biopharmaceutical company reported $3.09 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.94. The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Incyte had a return on equity of 29.93% and a net margin of 27.71%. Incyte’s quarterly revenue was up 37.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.57 EPS. As a group, research analysts expect that Incyte Corporation will post 2.28 EPS for the current fiscal year.

About Incyte

Incyte Corporation is a biopharmaceutical company that discovers, develops and commercializes medicines for oncology and inflammatory or autoimmune diseases. The company focuses on therapies that target specific biological pathways, including Janus kinase (JAK), fibroblast growth factor receptor (FGFR) and other mechanisms involved in cancer and immune-related conditions.

Its key products include Jakafi (ruxolitinib), a JAK inhibitor used in the United States for certain blood cancers and graft-versus-host disease; Opzelura (ruxolitinib cream), a topical treatment for atopic dermatitis and nonsegmental vitiligo; and Pemazyre (pemigatinib), an FGFR inhibitor approved for selected patients with cholangiocarcinoma and certain myeloid or lymphoid neoplasms.