Royal London Asset Management Ltd. Sells 8,163 Shares of Incyte Co. (NASDAQ:INCY)

Royal London Asset Management Ltd. cut its stake in shares of Incyte Co. (NASDAQ:INCY) by 4.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 174,689 shares of the biopharmaceutical company’s stock after selling 8,163 shares during the period. Royal London Asset Management Ltd.’s holdings in Incyte were worth $11,547,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of INCY. Pacer Advisors Inc. lifted its position in Incyte by 17,460.4% during the second quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock valued at $163,200,000 after purchasing an additional 2,676,851 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Incyte during the third quarter valued at approximately $156,611,000. Mizuho Securities USA LLC lifted its position in Incyte by 13,814.7% during the third quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock valued at $132,207,000 after purchasing an additional 1,985,726 shares during the last quarter. AQR Capital Management LLC lifted its position in Incyte by 70.5% during the second quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock valued at $159,905,000 after purchasing an additional 1,101,041 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of Incyte by 28.0% in the 2nd quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company’s stock worth $215,833,000 after acquiring an additional 779,243 shares during the last quarter. 96.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

INCY has been the subject of a number of recent research reports. Morgan Stanley boosted their price objective on shares of Incyte from $64.00 to $69.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted their price objective on shares of Incyte from $62.00 to $68.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. StockNews.com upgraded shares of Incyte from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 28th. Bank of America upgraded shares of Incyte from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $68.00 to $90.00 in a report on Tuesday, October 29th. Finally, The Goldman Sachs Group boosted their price objective on shares of Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $77.16.

Insider Activity

In other news, EVP Vijay K. Iyengar sold 6,043 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $75.38, for a total transaction of $455,521.34. Following the sale, the executive vice president now owns 30,658 shares in the company, valued at approximately $2,311,000.04. The trade was a 16.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Thomas Tray sold 572 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.94, for a total transaction of $36,001.68. Following the completion of the transaction, the insider now owns 24,825 shares in the company, valued at approximately $1,562,485.50. The trade was a 2.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,745 shares of company stock worth $1,311,687. Corporate insiders own 17.60% of the company’s stock.

Incyte Stock Up 1.3 %

Shares of Incyte stock opened at $75.92 on Friday. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. The company’s fifty day simple moving average is $71.74 and its two-hundred day simple moving average is $65.76. The company has a market cap of $14.63 billion, a P/E ratio of 542.32, a PEG ratio of 8.60 and a beta of 0.69. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the firm posted $0.91 EPS. The business’s quarterly revenue was up 23.8% on a year-over-year basis. Research analysts anticipate that Incyte Co. will post 0.4 EPS for the current year.

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.