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

Royal London Asset Management Ltd. lifted its stake in Incyte Co. (NASDAQ:INCY) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 179,525 shares of the biopharmaceutical company’s stock after acquiring an additional 4,836 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Incyte were worth $12,400,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in INCY. Quintet Private Bank Europe S.A. purchased a new position in shares of Incyte in the fourth quarter worth approximately $26,000. Global X Japan Co. Ltd. raised 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 valued at $27,000 after buying an additional 230 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Incyte during the third quarter valued at approximately $30,000. R Squared Ltd bought a new stake in shares of Incyte during the fourth quarter valued at approximately $30,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Incyte in the third quarter worth $33,000. 96.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. William Blair lowered shares of Incyte from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 18th. StockNews.com lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Stifel Nicolaus increased their price target on shares of Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a research report on Monday, February 10th. Finally, UBS Group began coverage on shares of Incyte in a research report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price target for the company. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Incyte presently has an average rating of “Hold” and an average price target of $75.13.

Insider Buying and Selling

In other Incyte news, 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 value of $897,866.88. Following the completion of the transaction, the executive vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Sheila A. Denton sold 599 shares of Incyte stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total value of $41,924.01. Following the completion of the transaction, the executive vice president now owns 25,848 shares of the company’s stock, valued at $1,809,101.52. The trade was a 2.26 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,827 shares of company stock valued at $3,322,618. 17.60% of the stock is currently owned by insiders.

Incyte Stock Up 2.2 %

Shares of INCY opened at $61.92 on Friday. Incyte Co. has a 52-week low of $50.35 and a 52-week high of $83.95. The company has a market capitalization of $11.98 billion, a PE ratio of 229.34, a price-to-earnings-growth ratio of 0.41 and a beta of 0.76. The stock has a fifty day simple moving average of $70.61 and a two-hundred day simple moving average of $70.13. 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 issued its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. As a group, equities analysts forecast that Incyte Co. will post 4.86 EPS for the current year.

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.