LSV Asset Management Has $167.91 Million Stock Position in Incyte Co. (NASDAQ:INCY)

LSV Asset Management grew its position in Incyte Co. (NASDAQ:INCY) by 0.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,769,892 shares of the biopharmaceutical company’s stock after buying an additional 15,115 shares during the period. LSV Asset Management owned approximately 1.44% of Incyte worth $167,911,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cape Investment Advisory Inc. acquired a new position in shares of Incyte in the 4th quarter valued at $25,000. MFA Wealth Advisors LLC bought a new stake in Incyte in the 2nd quarter valued at $26,000. Redmont Wealth Advisors LLC bought a new stake in Incyte in the 1st quarter valued at $28,000. Riverview Trust Co bought a new stake in Incyte in the 1st quarter valued at $29,000. Finally, Fidelis Capital Partners LLC bought a new stake in Incyte in the 1st quarter valued at $32,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insiders Place Their Bets

In other Incyte news, EVP Barry P. Flannelly sold 8,148 shares of the stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $60.00, for a total transaction of $488,880.00. Following the transaction, the executive vice president now owns 50,534 shares in the company, valued at approximately $3,032,040. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Incyte news, EVP Barry P. Flannelly sold 8,148 shares of the stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $60.00, for a total transaction of $488,880.00. Following the transaction, the executive vice president now owns 50,534 shares in the company, valued at approximately $3,032,040. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Vijay K. Iyengar sold 15,571 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $70.00, for a total transaction of $1,089,970.00. Following the transaction, the executive vice president now owns 36,701 shares in the company, valued at approximately $2,569,070. The disclosure for this sale can be found here. Insiders have sold a total of 44,189 shares of company stock worth $2,812,522 in the last quarter. Corporate insiders own 17.50% of the company’s stock.

Incyte Stock Performance

INCY traded down $1.70 on Friday, reaching $61.26. The company had a trading volume of 1,785,855 shares, compared to its average volume of 2,460,134. Incyte Co. has a fifty-two week low of $50.27 and a fifty-two week high of $70.36. The stock has a market cap of $13.76 billion, a P/E ratio of 18.56, a P/E/G ratio of 5.23 and a beta of 0.73. The company’s fifty day moving average is $63.41 and its 200 day moving average is $59.47. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.84 and a current ratio of 1.92.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). Incyte had a net margin of 2.52% and a return on equity of 0.75%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the company posted $0.77 EPS. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. As a group, analysts predict that Incyte Co. will post 0.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on INCY shares. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Incyte from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Citigroup boosted their price objective on shares of Incyte from $80.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price objective on shares of Incyte from $59.00 to $61.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research report on Tuesday, June 18th. Finally, Oppenheimer cut their price target on shares of Incyte from $84.00 to $81.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $73.29.

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.