ASR Vermogensbeheer N.V. Makes New Investment in Incyte Corporation (NASDAQ:INCY)

Key Points

• ASR Vermogensbeheer N.V. made a new investment in Incyte Corporation, acquiring 5,764 shares valued at approximately $349,000 during the 1st quarter.
• Incyte's stock is currently experiencing positive trading momentum, with a market cap of $15.31 billion and a price-to-earnings ratio of 17.82.
• Research analysts have mixed ratings for Incyte, with a consensus rating of "Hold" and a consensus price target of $81.20, while Citigroup has set a higher price objective of $103.00.

ASR Vermogensbeheer N.V. purchased a new position in shares of Incyte Corporation (NASDAQ:INCY - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,764 shares of the biopharmaceutical company's stock, valued at approximately $349,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INCY. AQR Capital Management LLC boosted its position in shares of Incyte by 29.7% during the fourth quarter. AQR Capital Management LLC now owns 3,502,813 shares of the biopharmaceutical company's stock worth $241,519,000 after purchasing an additional 801,090 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Incyte by 861.0% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 891,659 shares of the biopharmaceutical company's stock worth $61,587,000 after purchasing an additional 798,877 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Incyte by 581.3% during the first quarter. Victory Capital Management Inc. now owns 813,140 shares of the biopharmaceutical company's stock worth $49,236,000 after purchasing an additional 693,782 shares in the last quarter. Jupiter Asset Management Ltd. boosted its position in shares of Incyte by 469.9% during the first quarter. Jupiter Asset Management Ltd. now owns 829,764 shares of the biopharmaceutical company's stock worth $50,242,000 after purchasing an additional 684,171 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Incyte by 2.1% during the first quarter. Vanguard Group Inc. now owns 19,997,823 shares of the biopharmaceutical company's stock worth $1,210,868,000 after acquiring an additional 417,346 shares during the period. 96.97% of the stock is owned by institutional investors.

Insider Activity at Incyte

In related news, EVP Vijay K. Iyengar sold 8,617 shares of the company's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $68.15, for a total value of $587,248.55. Following the transaction, the executive vice president owned 37,701 shares in the company, valued at approximately $2,569,323.15. This represents a 18.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Steven H. Stein sold 14,952 shares of the company's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $68.47, for a total transaction of $1,023,763.44. Following the completion of the transaction, the executive vice president owned 97,466 shares in the company, valued at approximately $6,673,497.02. This trade represents a 13.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 56,098 shares of company stock worth $3,836,196 in the last quarter. Corporate insiders own 17.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Stifel Nicolaus upgraded shares of Incyte from a "hold" rating to a "buy" rating and raised their price objective for the stock from $75.00 to $107.00 in a report on Monday, June 16th. BMO Capital Markets restated an "underperform" rating and set a $60.00 price objective (up from $52.00) on shares of Incyte in a report on Wednesday, July 30th. Wall Street Zen upgraded shares of Incyte from a "buy" rating to a "strong-buy" rating in a report on Wednesday, April 30th. Barclays assumed coverage on shares of Incyte in a report on Friday, August 1st. They set an "overweight" rating and a $90.00 price objective on the stock. Finally, Wells Fargo & Company upgraded shares of Incyte from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $67.00 to $89.00 in a report on Wednesday, August 6th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $81.20.

Incyte Stock Performance

Shares of INCY stock traded up $0.40 on Thursday, reaching $86.25. The stock had a trading volume of 1,172,288 shares, compared to its average volume of 1,879,186. The company has a quick ratio of 2.78, a current ratio of 2.85 and a debt-to-equity ratio of 0.01. The firm's 50-day moving average is $71.17 and its two-hundred day moving average is $67.10. The firm has a market capitalization of $16.84 billion, a price-to-earnings ratio of 19.60, a P/E/G ratio of 0.64 and a beta of 0.71. Incyte Corporation has a 12 month low of $53.56 and a 12 month high of $86.50.

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.