Robeco Institutional Asset Management B.V. Has $162.51 Million Stock Position in Incyte Corporation $INCY

Key Points

• Robeco Institutional Asset Management B.V. increased its stake in Incyte Corporation by 71.5%, owning approximately $162.51 million worth of shares following a purchase of 995,204 additional shares.
• The stock has a market capitalization of $16.93 billion and is currently trading near its 52-week high of $87.99.
• Analysts maintain a consensus rating of "Hold" for Incyte, with an average target price of $83.64 amidst various analyst recommendations ranging from "Buy" to "Sell."

Robeco Institutional Asset Management B.V. lifted its holdings in shares of Incyte Corporation (NASDAQ:INCY - Free Report) by 71.5% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,386,311 shares of the biopharmaceutical company's stock after buying an additional 995,204 shares during the period. Robeco Institutional Asset Management B.V. owned about 1.23% of Incyte worth $162,508,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of INCY. Banque Transatlantique SA acquired a new position in shares of Incyte during the 1st quarter worth $26,000. SVB Wealth LLC acquired a new position in Incyte in the 1st quarter worth about $39,000. Geneos Wealth Management Inc. increased its holdings in Incyte by 350.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 756 shares of the biopharmaceutical company's stock worth $46,000 after purchasing an additional 588 shares in the last quarter. WPG Advisers LLC acquired a new position in Incyte in the 1st quarter worth about $47,000. Finally, Caitong International Asset Management Co. Ltd increased its holdings in Incyte by 161.2% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 854 shares of the biopharmaceutical company's stock worth $52,000 after purchasing an additional 527 shares in the last quarter. Institutional investors and hedge funds own 96.97% of the company's stock.

Incyte Stock Performance

Shares of Incyte stock opened at $86.70 on Thursday. The company has a market cap of $16.93 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 0.66 and a beta of 0.73. Incyte Corporation has a 52 week low of $53.56 and a 52 week high of $87.99. The business has a 50 day moving average price of $82.62 and a 200-day moving average price of $70.39. The company has a quick ratio of 2.78, a current ratio of 2.85 and a debt-to-equity ratio of 0.01.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Guggenheim reaffirmed a "neutral" rating on shares of Incyte in a report on Friday, September 19th. Barclays assumed coverage on Incyte in a report on Friday, August 1st. They issued an "overweight" rating and a $90.00 target price for the company. Wall Street Zen cut Incyte from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 13th. Royal Bank Of Canada upped their price target on Incyte from $72.00 to $81.00 and gave the company a "sector perform" rating in a research report on Wednesday, September 24th. Finally, UBS Group reiterated a "neutral" rating and issued a $68.00 price target (up previously from $62.00) on shares of Incyte in a research report on Wednesday, July 30th. Six analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Incyte currently has a consensus rating of "Hold" and an average target price of $83.64.

Insider Transactions at Incyte

In other news, EVP Vijay K. Iyengar sold 1,177 shares of the 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 $82,225.22. Following the completion of the sale, the executive vice president directly owned 35,929 shares of the company's stock, valued at $2,509,999.94. This represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Steven H. Stein sold 3,706 shares of the stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $67.94, for a total value of $251,785.64. Following the completion of the sale, the executive vice president directly owned 102,886 shares of the company's stock, valued at approximately $6,990,074.84. This trade represents a 3.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,257 shares of company stock valued at $2,487,927 over the last ninety days. 17.80% of the stock is currently owned by insiders.

Incyte 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.