Robeco Institutional Asset Management B.V. Grows Position in Incyte Corporation (NASDAQ:INCY)

Robeco Institutional Asset Management B.V. increased its stake in Incyte Corporation (NASDAQ:INCY - Free Report) by 10.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,391,107 shares of the biopharmaceutical company's stock after acquiring an additional 130,320 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.72% of Incyte worth $84,232,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of INCY. Bank of New York Mellon Corp raised its holdings in shares of Incyte by 7.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,127,515 shares of the biopharmaceutical company's stock valued at $77,877,000 after purchasing an additional 78,827 shares in the last quarter. FourThought Financial Partners LLC acquired a new stake in Incyte in the fourth quarter valued at $253,000. Allegiance Financial Group Advisory Services LLC purchased a new stake in Incyte during the 4th quarter worth about $228,000. Proficio Capital Partners LLC purchased a new stake in Incyte during the 4th quarter worth about $3,549,000. Finally, Fisher Asset Management LLC boosted its position in shares of Incyte by 151.0% during the 4th quarter. Fisher Asset Management LLC now owns 28,923 shares of the biopharmaceutical company's stock worth $1,998,000 after acquiring an additional 17,401 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Incyte Stock Performance

INCY traded down $2.44 during trading on Friday, hitting $68.37. The stock had a trading volume of 3,495,236 shares, compared to its average volume of 2,013,453. The firm has a market capitalization of $13.23 billion, a P/E ratio of 213.66, a PEG ratio of 0.57 and a beta of 0.67. The company's 50-day moving average price is $64.29 and its 200 day moving average price is $66.76. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.00 and a current ratio of 2.04. Incyte Corporation has a twelve month low of $53.56 and a twelve month high of $83.95.

Incyte (NASDAQ:INCY - Get Free Report) last released its 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. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $996.17 million. Incyte had a return on equity of 2.77% and a net margin of 0.48%. Incyte's quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 earnings per share. On average, equities research analysts forecast that Incyte Corporation will post 4.86 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their target price on Incyte from $70.00 to $68.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. Citigroup reiterated a "buy" rating on shares of Incyte in a research note on Tuesday, June 3rd. Stifel Nicolaus upgraded shares of Incyte from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $75.00 to $107.00 in a research report on Monday, June 16th. Wall Street Zen upgraded shares of Incyte from a "buy" rating to a "strong-buy" rating in a report on Wednesday, April 30th. Finally, Wells Fargo & Company increased their target price on shares of Incyte from $58.00 to $59.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Incyte currently has an average rating of "Hold" and a consensus target price of $74.53.

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.