LSV Asset Management Increases Stake in Incyte Co. (NASDAQ:INCY)

LSV Asset Management increased its position in Incyte Co. (NASDAQ:INCY - Free Report) by 18.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,467,490 shares of the biopharmaceutical company's stock after acquiring an additional 544,080 shares during the quarter. LSV Asset Management owned about 1.80% of Incyte worth $239,500,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INCY. CWA Asset Management Group LLC purchased a new stake in shares of Incyte during the fourth quarter worth about $1,933,000. Orion Portfolio Solutions LLC bought a new position in Incyte in the 3rd quarter worth approximately $770,000. Tri Ri Asset Management Corp purchased a new stake in Incyte during the 3rd quarter valued at approximately $3,292,000. Pallas Capital Advisors LLC bought a new stake in shares of Incyte during the fourth quarter valued at approximately $1,006,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Incyte by 13.5% in the fourth quarter. JPMorgan Chase & Co. now owns 323,640 shares of the biopharmaceutical company's stock worth $22,354,000 after buying an additional 38,550 shares in the last quarter. Institutional investors own 96.97% of the company's stock.

Insiders Place Their Bets

In other Incyte news, EVP Sheila A. Denton sold 14,069 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total value of $1,042,090.83. Following the completion of the sale, the executive vice president now directly owns 25,848 shares in the company, valued at $1,914,561.36. This trade represents a 35.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Barry P. Flannelly sold 19,807 shares of Incyte stock in a transaction on Friday, March 14th. The stock was sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the completion of the transaction, the executive vice president now directly owns 33,567 shares in the company, valued at $2,272,150.23. This represents a 37.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,827 shares of company stock worth $3,322,618 over the last 90 days. Company insiders own 17.60% of the company's stock.

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Incyte Trading Down 1.6 %

INCY stock traded down $0.96 during mid-day trading on Tuesday, reaching $58.26. The company had a trading volume of 491,083 shares, compared to its average volume of 2,372,615. The company has a market capitalization of $11.27 billion, a PE ratio of 215.79, a price-to-earnings-growth ratio of 0.41 and a beta of 0.89. The firm has a 50 day moving average of $65.87 and a 200 day moving average of $69.58. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94.

Incyte (NASDAQ:INCY - Get Free Report) last issued its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. On average, equities analysts predict that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

INCY has been the topic of several research analyst reports. UBS Group started coverage on shares of Incyte in a research note on Tuesday, December 17th. They issued a "neutral" rating and a $77.00 price target on the stock. Citigroup dropped their price target on Incyte from $97.00 to $88.00 and set a "buy" rating for the company in a research note on Tuesday, February 11th. Morgan Stanley reduced their price objective on Incyte from $69.00 to $65.00 and set an "equal weight" rating on the stock in a research note on Monday, March 24th. Wells Fargo & Company increased 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. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Incyte in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $74.88.

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.