Robeco Institutional Asset Management B.V. Buys 70,596 Shares of Incyte Co. (NASDAQ:INCY)

Robeco Institutional Asset Management B.V. lifted its stake in shares of Incyte Co. (NASDAQ:INCY) by 5.9% during the third quarter, HoldingsChannel reports. The firm owned 1,265,966 shares of the biopharmaceutical company’s stock after acquiring an additional 70,596 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Incyte were worth $83,680,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Pacer Advisors Inc. increased its holdings in shares of Incyte by 17,460.4% during the 2nd quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock worth $163,200,000 after acquiring an additional 2,676,851 shares during the last quarter. AQR Capital Management LLC grew its stake in Incyte by 70.5% in the 2nd quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock valued at $159,905,000 after buying an additional 1,101,041 shares during the last quarter. Acadian Asset Management LLC lifted its position in Incyte by 28.0% during the second 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. Swedbank AB acquired a new stake in Incyte during the first quarter worth approximately $37,440,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Incyte by 122.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 892,710 shares of the biopharmaceutical company’s stock valued at $54,116,000 after purchasing an additional 490,680 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Price Performance

INCY stock opened at $75.75 on Tuesday. Incyte Co. has a 52-week low of $50.35 and a 52-week high of $76.57. The business has a fifty day moving average of $66.25 and a two-hundred day moving average of $62.13. The stock has a market cap of $14.59 billion, a price-to-earnings ratio of 541.11, a price-to-earnings-growth ratio of 6.49 and a beta of 0.71. The company has a quick ratio of 1.84, a current ratio of 1.87 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.12). Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the company posted $0.91 EPS. The firm’s revenue for the quarter was up 23.8% compared to the same quarter last year. As a group, research analysts anticipate that Incyte Co. will post 0.52 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Jonathan Elliott Dickinson sold 8,450 shares of Incyte stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $62.36, for a total transaction of $526,942.00. Following the completion of the transaction, the executive vice president now directly owns 36,390 shares of the company’s stock, valued at approximately $2,269,280.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Thomas Tray sold 572 shares of the company’s stock in a transaction that occurred on 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 directly owns 24,825 shares of the company’s stock, valued at approximately $1,562,485.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of Incyte stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.36, for a total transaction of $526,942.00. Following the sale, the executive vice president now owns 36,390 shares in the company, valued at approximately $2,269,280.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on INCY. William Blair reaffirmed an “outperform” rating on shares of Incyte in a report on Monday, September 9th. Wolfe Research started coverage on Incyte in a report on Tuesday, October 1st. They issued an “outperform” rating and a $84.00 price objective for the company. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a report on Monday, September 16th. Bank of America raised Incyte from a “neutral” rating to a “buy” rating and boosted their price target for the company from $68.00 to $90.00 in a research note on Tuesday, October 29th. Finally, JMP Securities reiterated a “market perform” rating on shares of Incyte in a research report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $76.74.

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.