Los Angeles Capital Management LLC Increases Stock Holdings in Incyte Corporation $INCY

Los Angeles Capital Management LLC increased its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 30.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,288,874 shares of the biopharmaceutical company’s stock after buying an additional 527,703 shares during the period. Incyte comprises approximately 0.7% of Los Angeles Capital Management LLC’s investment portfolio, making the stock its 26th largest holding. Los Angeles Capital Management LLC owned approximately 1.17% of Incyte worth $211,927,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Elyxium Wealth LLC purchased a new position in shares of Incyte during the 4th quarter valued at approximately $28,000. Smithfield Trust Co lifted its holdings in Incyte by 135.0% in the 4th quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 162 shares in the last quarter. MUFG Securities EMEA plc purchased a new position in Incyte in the 2nd quarter valued at $32,000. CYBER HORNET ETFs LLC purchased a new position in Incyte in the 2nd quarter valued at $33,000. Finally, Leonteq Securities AG purchased a new position in Incyte in the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Stock Up 1.1%

Shares of NASDAQ:INCY opened at $102.38 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.68 and a quick ratio of 3.60. The firm has a market capitalization of $20.45 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 0.99 and a beta of 0.79. The firm’s 50-day moving average is $96.49 and its two-hundred day moving average is $99.09. Incyte Corporation has a 1 year low of $66.74 and a 1 year high of $112.29.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.43. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.22 billion. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The business’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.16 earnings per share. Analysts predict that Incyte Corporation will post 6.65 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on INCY shares. Citigroup restated a “market perform” rating on shares of Incyte in a report on Tuesday. HC Wainwright restated a “buy” rating and issued a $135.00 price objective on shares of Incyte in a report on Thursday, May 21st. Barclays restated an “overweight” rating on shares of Incyte in a report on Tuesday, March 24th. 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 report on Wednesday, February 11th. Finally, Jefferies Financial Group lowered Incyte from a “buy” rating to a “hold” rating and reduced their price target for the stock from $120.00 to $94.00 in a report on Monday, March 16th. Nine research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $104.00.

Insider Transactions at Incyte

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

About Incyte

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.