Royal London Asset Management Ltd. Grows Stake in Incyte Co. (NASDAQ:INCY)

Royal London Asset Management Ltd. grew its stake in shares of Incyte Co. (NASDAQ:INCY) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 179,525 shares of the biopharmaceutical company’s stock after buying an additional 4,836 shares during the period. Royal London Asset Management Ltd. owned 0.09% of Incyte worth $12,400,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Quintet Private Bank Europe S.A. acquired a new position in Incyte in the fourth quarter valued at $26,000. Global X Japan Co. Ltd. increased its position in shares of Incyte by 144.7% during the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 230 shares during the last quarter. R Squared Ltd bought a new stake in Incyte in the fourth quarter valued at about $30,000. Brooklyn Investment Group bought a new stake in Incyte in the third quarter valued at about $30,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Incyte in the third quarter valued at about $33,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Insider Activity

In other Incyte news, EVP Sheila A. Denton sold 14,069 shares of Incyte stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total value of $1,042,090.83. Following the sale, the executive vice president now owns 25,848 shares of the company’s stock, valued at approximately $1,914,561.36. The trade was a 35.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Steven H. Stein sold 12,352 shares of Incyte stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total transaction of $897,866.88. Following the completion of the transaction, the executive vice president now owns 66,967 shares of the company’s stock, valued at $4,867,831.23. The trade was a 15.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,827 shares of company stock worth $3,322,618 over the last three months. 17.60% of the stock is currently owned by insiders.

Incyte Stock Performance

Shares of NASDAQ:INCY opened at $61.92 on Friday. The firm has a market cap of $11.98 billion, a PE ratio of 229.34, a PEG ratio of 0.41 and a beta of 0.76. 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 company’s 50 day moving average price is $70.61 and its two-hundred day moving average price is $70.13. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. Equities research analysts predict that Incyte Co. will post 4.86 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on INCY. Citigroup decreased their target price on Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. William Blair downgraded Incyte from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 18th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a report on Friday, January 10th. UBS Group assumed coverage on Incyte in a research report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price objective for the company. Finally, Guggenheim lowered Incyte from a “buy” rating to a “neutral” rating and set a $92.00 target price for the company. in a report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Incyte has an average rating of “Hold” and an average price target of $75.13.

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.