IFM Investors Pty Ltd Has $2.43 Million Stake in Incyte Corporation (NASDAQ:INCY)

IFM Investors Pty Ltd lifted its position in shares of Incyte Corporation (NASDAQ:INCY - Free Report) by 15.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,744 shares of the biopharmaceutical company's stock after purchasing an additional 4,907 shares during the quarter. IFM Investors Pty Ltd's holdings in Incyte were worth $2,429,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Incyte by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 4,040,086 shares of the biopharmaceutical company's stock worth $278,346,000 after purchasing an additional 103,910 shares during the period. AQR Capital Management LLC raised 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 during the period. LSV Asset Management grew its holdings in Incyte by 18.6% during the fourth quarter. LSV Asset Management now owns 3,467,490 shares of the biopharmaceutical company's stock worth $239,500,000 after buying an additional 544,080 shares in the last quarter. Bellevue Group AG grew its holdings in Incyte by 0.3% during the fourth quarter. Bellevue Group AG now owns 2,157,478 shares of the biopharmaceutical company's stock worth $149,017,000 after buying an additional 6,927 shares in the last quarter. Finally, Norges Bank bought a new stake in Incyte during the fourth quarter worth $121,890,000. 96.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on INCY shares. William Blair downgraded Incyte from an "outperform" rating to a "market perform" rating in a report on Tuesday, March 18th. Guggenheim downgraded Incyte from a "buy" rating to a "neutral" rating and set a $92.00 price target for the company. in a report on Tuesday, March 18th. Morgan Stanley decreased their price target on Incyte from $69.00 to $65.00 and set an "equal weight" rating for the company in a report on Monday, March 24th. UBS Group reiterated a "neutral" rating and set a $61.00 price target on shares of Incyte in a report on Tuesday, June 3rd. Finally, Stifel Nicolaus upgraded Incyte from a "hold" rating to a "buy" rating and upped their price target for the stock from $75.00 to $107.00 in a report on Monday, June 16th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $74.53.

Incyte Stock Down 1.7%

Shares of NASDAQ INCY opened at $67.27 on Tuesday. Incyte Corporation has a one year low of $53.56 and a one year high of $83.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.04 and a quick ratio of 2.00. The business's fifty day moving average price is $65.68 and its 200-day moving average price is $66.65. The stock has a market capitalization of $13.02 billion, a PE ratio of 210.23, a P/E/G ratio of 0.58 and a beta of 0.68.

Incyte (NASDAQ:INCY - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $1.01 by $0.15. Incyte had a return on equity of 2.77% and a net margin of 0.48%. The firm had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $996.17 million. During the same quarter in the prior year, the firm earned $0.64 EPS. The business's revenue for the quarter was up 19.5% compared to the same quarter last year. On average, equities research analysts anticipate that Incyte Corporation will post 4.86 EPS for the current year.

Insider Activity

In other news, EVP Barry P. Flannelly sold 10,903 shares of the company's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $68.15, for a total transaction of $743,039.45. Following the transaction, the executive vice president owned 39,744 shares of the company's stock, valued at $2,708,553.60. This represents a 21.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Vijay K. Iyengar sold 8,617 shares of the company's stock in a transaction on 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 directly owned 37,701 shares in the company, valued at $2,569,323.15. This represents a 18.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,119 shares of company stock valued at $1,371,385 in the last 90 days. Insiders own 17.80% of the company's stock.

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.

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