Todd Asset Management LLC Cuts Stock Position in Incyte Co. (NASDAQ:INCY)

Todd Asset Management LLC decreased its position in shares of Incyte Co. (NASDAQ:INCY) by 3.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 345,710 shares of the biopharmaceutical company’s stock after selling 12,957 shares during the period. Todd Asset Management LLC owned about 0.18% of Incyte worth $23,878,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. 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 period. R Squared Ltd acquired a new stake in Incyte in the 4th quarter valued at about $30,000. Brooklyn Investment Group acquired a new position in shares of Incyte during the third quarter worth about $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Incyte during the third quarter worth approximately $33,000. Finally, Blue Trust Inc. raised its holdings in Incyte by 124.6% in the fourth quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 329 shares in the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Thomas Tray sold 650 shares of Incyte stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $70.64, for a total transaction of $45,916.00. Following the completion of the sale, the insider now directly owns 23,962 shares in the company, valued at approximately $1,692,675.68. This trade represents a 2.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Vijay K. Iyengar sold 6,043 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $75.38, for a total value of $455,521.34. Following the completion of the sale, the executive vice president now owns 30,658 shares in the company, valued at approximately $2,311,000.04. This represents a 16.47 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,695 shares of company stock worth $1,444,356. Corporate insiders own 17.60% of the company’s stock.

Analysts Set New Price Targets

INCY has been the topic of a number of analyst reports. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a report on Friday, January 10th. Oppenheimer lifted their price target on Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. The Goldman Sachs Group increased their target price on shares of Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. UBS Group began coverage on Incyte in a research report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 target price on the stock. Finally, Wells Fargo & Company upped their target price on Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $75.25.

Incyte Trading Up 2.6 %

NASDAQ INCY opened at $74.01 on Tuesday. Incyte Co. has a 52-week low of $50.35 and a 52-week high of $83.95. The firm has a 50-day moving average price of $71.32 and a 200 day moving average price of $69.60. The stock has a market capitalization of $14.32 billion, a P/E ratio of 274.12, a P/E/G ratio of 0.41 and a beta of 0.70. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01.

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

Incyte 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.