Lazard Asset Management LLC Boosts Holdings in Incyte Co. (NASDAQ:INCY)

Lazard Asset Management LLC increased its stake in Incyte Co. (NASDAQ:INCY - Free Report) by 123.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,172 shares of the biopharmaceutical company's stock after acquiring an additional 81,408 shares during the quarter. Lazard Asset Management LLC owned 0.08% of Incyte worth $10,164,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of INCY. Norges Bank bought a new stake in Incyte in the fourth quarter valued at $121,890,000. AQR Capital Management LLC grew its stake in shares of Incyte by 29.7% in the 4th quarter. AQR Capital Management LLC now owns 3,502,813 shares of the biopharmaceutical company's stock valued at $241,519,000 after buying an additional 801,090 shares during the period. Jacobs Levy Equity Management Inc. increased its position in Incyte by 861.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 891,659 shares of the biopharmaceutical company's stock valued at $61,587,000 after buying an additional 798,877 shares in the last quarter. Sound Shore Management Inc. CT raised its stake in Incyte by 98.4% during the 4th quarter. Sound Shore Management Inc. CT now owns 1,201,089 shares of the biopharmaceutical company's stock worth $82,959,000 after buying an additional 595,741 shares during the period. Finally, Pictet Asset Management Holding SA boosted its holdings in Incyte by 73.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,313,873 shares of the biopharmaceutical company's stock worth $90,749,000 after acquiring an additional 556,218 shares in the last quarter. Institutional investors own 96.97% of the company's stock.

Insider Transactions at Incyte

In other Incyte news, EVP Sheila A. Denton sold 14,069 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total transaction of $1,042,090.83. Following the sale, the executive vice president now owns 25,848 shares of the company's stock, valued at $1,914,561.36. The trade was a 35.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Barry P. Flannelly sold 19,807 shares of the firm's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $67.69, for a total value of $1,340,735.83. Following the completion of the transaction, the executive vice president now directly owns 33,567 shares of the company's stock, valued at $2,272,150.23. The trade was a 37.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,475 shares of company stock worth $2,424,751 over the last quarter. Corporate insiders own 17.80% of the company's stock.

Analyst Upgrades and Downgrades

INCY has been the subject of several recent research reports. Wells Fargo & Company boosted their price objective on Incyte from $58.00 to $59.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. JPMorgan Chase & Co. decreased their price target on shares of Incyte from $70.00 to $68.00 and set a "neutral" rating for the company in a research note on Monday, April 21st. Royal Bank of Canada lifted their price objective on shares of Incyte from $64.00 to $67.00 and gave the company a "sector perform" rating in a report on Wednesday, April 30th. JMP Securities restated a "market perform" rating on shares of Incyte in a report on Tuesday, February 11th. Finally, Truist Financial cut their price target on Incyte from $74.00 to $72.00 and set a "hold" rating for the company in a research note on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $73.53.

Incyte Stock Performance

Incyte stock traded up $1.30 during trading on Tuesday, hitting $65.11. The stock had a trading volume of 546,457 shares, compared to its average volume of 2,313,336. The stock's 50 day moving average is $60.41 and its two-hundred day moving average is $68.30. Incyte Co. has a 1 year low of $53.56 and a 1 year high of $83.95. The stock has a market cap of $12.60 billion, a price-to-earnings ratio of 241.17, a price-to-earnings-growth ratio of 0.41 and a beta of 0.68. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.15. Incyte had a return on equity of 0.05% and a net margin of 0.77%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $996.17 million. During the same quarter in the prior year, the company earned $0.64 EPS. The firm's quarterly revenue was up 19.5% compared to the same quarter last year. As a group, analysts predict that Incyte Co. will post 4.86 EPS for the current year.

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.