Incyte Corporation (NASDAQ:INCY) Holdings Decreased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lessened its stake in shares of Incyte Corporation (NASDAQ:INCY - Free Report) by 19.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 326,794 shares of the biopharmaceutical company's stock after selling 80,407 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.17% of Incyte worth $19,787,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raiffeisen Bank International AG purchased a new stake in Incyte during the 4th quarter worth about $34,000. NBC Securities Inc. increased its position in Incyte by 88,200.0% during the 1st quarter. NBC Securities Inc. now owns 883 shares of the biopharmaceutical company's stock worth $53,000 after purchasing an additional 882 shares in the last quarter. Huntington National Bank increased its position in Incyte by 40.7% during the 4th quarter. Huntington National Bank now owns 934 shares of the biopharmaceutical company's stock worth $65,000 after purchasing an additional 270 shares in the last quarter. Intact Investment Management Inc. acquired a new stake in Incyte in the 1st quarter worth about $73,000. Finally, Farther Finance Advisors LLC boosted its stake in Incyte by 474.1% in the 1st quarter. Farther Finance Advisors LLC now owns 1,550 shares of the biopharmaceutical company's stock worth $94,000 after buying an additional 1,280 shares during the last quarter. Hedge funds and other institutional investors own 96.97% of the company's stock.

Incyte Stock Down 0.1%

Incyte stock traded down $0.08 during midday trading on Thursday, hitting $70.61. 534,518 shares of the company were exchanged, compared to its average volume of 1,857,565. The company's fifty day moving average price is $67.60 and its 200-day moving average price is $66.64. The company has a market cap of $13.67 billion, a PE ratio of 220.66, a price-to-earnings-growth ratio of 0.58 and a beta of 0.68. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.04 and a quick ratio of 2.00. Incyte Corporation has a fifty-two week low of $53.56 and a fifty-two week high of $83.95.

Incyte (NASDAQ:INCY - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $996.17 million. During the same period in the previous year, the company posted $0.64 EPS. Incyte's revenue for the quarter was up 19.5% on a year-over-year basis. On average, research analysts predict that Incyte Corporation will post 4.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other Incyte news, EVP Steven H. Stein sold 3,706 shares of Incyte stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $67.94, for a total transaction of $251,785.64. Following the sale, the executive vice president directly owned 102,886 shares in the company, valued at $6,990,074.84. The trade was a 3.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Barry P. Flannelly sold 1,192 shares of Incyte stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $69.86, for a total value of $83,273.12. Following the sale, the executive vice president owned 37,630 shares in the company, valued at $2,628,831.80. This represents a 3.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 56,098 shares of company stock valued at $3,836,196 over the last 90 days. 17.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

INCY has been the topic of a number of research analyst reports. JPMorgan Chase & Co. decreased their price target on Incyte from $68.00 to $67.00 and set a "neutral" rating on the stock in a research note on Monday, July 14th. Royal Bank Of Canada set a $67.00 price target on Incyte and gave the stock a "sector perform" rating in a research note on Monday, June 23rd. Stifel Nicolaus raised Incyte from a "hold" rating to a "buy" rating and raised their price target for the stock from $75.00 to $107.00 in a research note on Monday, June 16th. Citigroup reissued a "buy" rating on shares of Incyte in a research note on Tuesday, June 3rd. Finally, Truist Financial raised their price target on Incyte from $72.00 to $73.00 and gave the stock a "hold" rating in a research note on Tuesday, May 27th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $74.47.

Incyte Company Profile

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.