Los Angeles Capital Management LLC lessened its stake in Incyte Co. (NASDAQ:INCY - Free Report) by 43.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 209,795 shares of the biopharmaceutical company's stock after selling 160,616 shares during the period. Los Angeles Capital Management LLC owned about 0.11% of Incyte worth $13,867,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the stock. ProShare Advisors LLC boosted its stake in shares of Incyte by 14.4% in the first quarter. ProShare Advisors LLC now owns 63,086 shares of the biopharmaceutical company's stock valued at $3,594,000 after purchasing an additional 7,925 shares during the period. Kennedy Capital Management LLC acquired a new stake in shares of Incyte during the first quarter worth about $463,000. Magnetar Financial LLC acquired a new stake in Incyte in the first quarter valued at about $1,817,000. Greenwood Capital Associates LLC acquired a new stake in Incyte in the third quarter valued at about $433,000. Finally, Andra AP fonden lifted its position in Incyte by 35.2% in the second quarter. Andra AP fonden now owns 247,800 shares of the biopharmaceutical company's stock valued at $15,022,000 after purchasing an additional 64,500 shares during the period. Hedge funds and other institutional investors own 96.97% of the company's stock.
Incyte Stock Down 1.3 %
INCY traded down $1.03 during mid-day trading on Tuesday, reaching $80.50. 660,880 shares of the stock were exchanged, compared to its average volume of 2,335,399. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. The stock has a market capitalization of $15.51 billion, a PE ratio of 582.40, a price-to-earnings-growth ratio of 9.61 and a beta of 0.71. The company has a 50 day moving average price of $67.79 and a two-hundred day moving average price of $63.16. Incyte Co. has a 1 year low of $50.35 and a 1 year high of $83.95.
Incyte (NASDAQ:INCY - Get Free Report) last released 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). The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The company's revenue for the quarter was up 23.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.91 earnings per share. As a group, research analysts anticipate that Incyte Co. will post 0.4 EPS for the current year.
Insider Activity at Incyte
In other news, 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 sale, the insider now directly owns 24,825 shares in the company, valued at $1,562,485.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other Incyte news, EVP Barry P. Flannelly sold 3,680 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total value of $293,222.40. Following the completion of the sale, the executive vice president now owns 58,042 shares of the company's stock, valued at $4,624,786.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $36,001.68. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,702 shares of company stock worth $856,166. Company insiders own 17.60% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on INCY shares. StockNews.com upgraded shares of Incyte from a "buy" rating to a "strong-buy" rating in a research report on Thursday, October 31st. Morgan Stanley lifted their price target on shares of Incyte from $64.00 to $69.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. Citigroup lifted their target price on shares of Incyte from $92.00 to $97.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Oppenheimer boosted their price objective on shares of Incyte from $81.00 to $82.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. 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 research analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $76.74.
Check Out Our Latest Stock Analysis on Incyte
Incyte Profile
(
Free Report)
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.
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