Incyte Co. (NASDAQ:INCY) Shares Sold by LMR Partners LLP

LMR Partners LLP cut its stake in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 93.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,049 shares of the biopharmaceutical company's stock after selling 150,437 shares during the quarter. LMR Partners LLP's holdings in Incyte were worth $763,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in Incyte in the 4th quarter valued at about $121,890,000. AQR Capital Management LLC grew its stake in 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 acquiring an additional 801,090 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake 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 acquiring an additional 798,877 shares during the last quarter. Sound Shore Management Inc. CT grew its stake in Incyte by 98.4% in the 4th quarter. Sound Shore Management Inc. CT now owns 1,201,089 shares of the biopharmaceutical company's stock valued at $82,959,000 after acquiring an additional 595,741 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its stake in Incyte by 73.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,313,873 shares of the biopharmaceutical company's stock valued at $90,749,000 after acquiring an additional 556,218 shares during the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

INCY has been the topic of a number of research reports. Morgan Stanley lowered their price objective on shares of Incyte from $69.00 to $65.00 and set an "equal weight" rating on the stock in a research note on Monday, March 24th. Citigroup lowered their price objective on shares of Incyte from $97.00 to $88.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. JPMorgan Chase & Co. lowered their price objective on shares of Incyte from $70.00 to $68.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Wells Fargo & Company increased their price objective on shares of Incyte from $58.00 to $59.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 30th. Finally, Guggenheim lowered shares of Incyte from a "buy" rating to a "neutral" rating and set a $92.00 target price on the stock. in a report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Incyte has a consensus rating of "Hold" and an average target price of $73.53.

Insider Transactions at Incyte

In related news, EVP Sheila A. Denton sold 599 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total value of $41,924.01. Following the transaction, the executive vice president now owns 25,848 shares in the company, valued at approximately $1,809,101.52. This trade represents a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Barry P. Flannelly sold 19,807 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the completion of the transaction, the executive vice president now owns 33,567 shares in the company, valued at $2,272,150.23. The trade was a 37.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,475 shares of company stock worth $2,424,751 in the last three months. Company insiders own 17.80% of the company's stock.

Incyte Trading Up 0.9%

Shares of INCY stock traded up $0.55 during trading hours on Friday, hitting $63.31. 1,330,051 shares of the company were exchanged, compared to its average volume of 2,321,935. The firm has a market cap of $12.25 billion, a PE ratio of 234.49, a PEG ratio of 0.41 and a beta of 0.68. Incyte Co. has a 1 year low of $53.56 and a 1 year high of $83.95. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The firm has a fifty day moving average of $60.49 and a 200 day moving average of $68.47.

Incyte (NASDAQ:INCY - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $996.17 million. Incyte had a net margin of 0.77% and a return on equity of 0.05%. The company's revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.64 EPS. Analysts expect that Incyte Co. will post 4.86 earnings per share 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.