Voya Investment Management LLC Increases Position in Incyte Co. (NASDAQ:INCY)

Voya Investment Management LLC raised its stake in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 35.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,697 shares of the biopharmaceutical company's stock after buying an additional 44,688 shares during the quarter. Voya Investment Management LLC owned about 0.09% of Incyte worth $11,721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quintet Private Bank Europe S.A. bought a new stake in Incyte in the 4th quarter valued at $26,000. Global X Japan Co. Ltd. increased its holdings in shares of Incyte by 144.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 230 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Incyte in the fourth quarter worth about $30,000. Blue Trust Inc. boosted its stake in Incyte by 124.6% during the fourth quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company's stock valued at $39,000 after buying an additional 329 shares during the last quarter. Finally, Bradley & Co. Private Wealth Management LLC purchased a new position in Incyte during the 4th quarter valued at approximately $42,000. Institutional investors own 96.97% of the company's stock.

Incyte Stock Up 0.8 %

Shares of INCY traded up $0.50 during midday trading on Friday, reaching $62.53. 1,525,246 shares of the stock were exchanged, compared to its average volume of 2,360,561. The company has a market capitalization of $12.10 billion, a P/E ratio of 231.60, a PEG ratio of 0.41 and a beta of 0.68. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. Incyte Co. has a 52 week low of $52.81 and a 52 week high of $83.95. The company's 50 day moving average is $62.53 and its two-hundred day moving average is $68.89.

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. StockNews.com raised shares of Incyte from a "buy" rating to a "strong-buy" rating in a research note on Wednesday. Cantor Fitzgerald restated a "neutral" rating on shares of Incyte in a research report on Friday, January 10th. William Blair cut Incyte from an "outperform" rating to a "market perform" rating in a report on Tuesday, March 18th. Wells Fargo & Company increased their price target on Incyte from $58.00 to $59.00 and gave the company an "equal weight" rating in a report on Wednesday. Finally, Guggenheim lowered shares of Incyte from a "buy" rating to a "neutral" rating and set a $92.00 price objective for the company. in a research note on Tuesday, March 18th. One investment 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 has an average rating of "Hold" and an average target price of $73.53.

Insider Activity at Incyte

In related news, EVP Barry P. Flannelly sold 19,807 shares of the business'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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $41,924.01. Following the completion of the sale, the executive vice president now owns 25,848 shares of the company's stock, valued at approximately $1,809,101.52. This trade represents a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,475 shares of company stock valued at $2,424,751 over the last ninety days. 17.60% of the stock is owned by company insiders.

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.