Incyte Co. (NASDAQ:INCY) Shares Purchased by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. raised its position in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 179,525 shares of the biopharmaceutical company's stock after buying an additional 4,836 shares during the quarter. Royal London Asset Management Ltd. owned about 0.09% of Incyte worth $12,400,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Quintet Private Bank Europe S.A. purchased a new stake in Incyte during the fourth quarter valued at approximately $26,000. Global X Japan Co. Ltd. boosted its position in shares of Incyte by 144.7% in the 4th quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 230 shares in the last quarter. Brooklyn Investment Group purchased a new position in Incyte during the 3rd quarter worth $30,000. R Squared Ltd acquired a new position in Incyte during the 4th quarter valued at about $30,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in Incyte in the third quarter valued at about $33,000. 96.97% of the stock is currently owned by institutional investors.

Insider Transactions at Incyte

In other news, EVP Barry P. Flannelly sold 19,807 shares of Incyte stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $67.69, for a total value of $1,340,735.83. Following the sale, the executive vice president now directly owns 33,567 shares of the company's stock, valued at $2,272,150.23. The trade was a 37.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Sheila A. Denton sold 599 shares of the stock in a transaction on 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 directly owns 25,848 shares of the company's stock, valued at approximately $1,809,101.52. This represents a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,827 shares of company stock valued at $3,322,618 over the last 90 days. Corporate insiders own 17.60% of the company's stock.

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Wall Street Analysts Forecast Growth

Several brokerages recently commented on INCY. Morgan Stanley decreased their price objective on shares of Incyte from $69.00 to $65.00 and set an "equal weight" rating for the company in a research report on Monday. Stifel Nicolaus upped their target price on Incyte from $75.00 to $77.00 and gave the company a "hold" rating in a research report on Monday, February 10th. JMP Securities restated a "market perform" rating on shares of Incyte in a research note on Tuesday, February 11th. Royal Bank of Canada dropped their target price on Incyte from $70.00 to $68.00 and set a "sector perform" rating on the stock in a research report on Tuesday, February 11th. Finally, Citigroup reduced their price target on shares of Incyte from $97.00 to $88.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $74.88.

Incyte Price Performance

INCY traded down $0.70 during trading on Tuesday, hitting $62.08. The company's stock had a trading volume of 2,603,519 shares, compared to its average volume of 2,267,810. The firm has a market capitalization of $12.01 billion, a price-to-earnings ratio of 229.93, a P/E/G ratio of 0.41 and a beta of 0.76. Incyte Co. has a twelve month low of $50.35 and a twelve month high of $83.95. The business's fifty day simple moving average is $70.22 and its 200 day simple moving average is $70.18. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY - Get Free Report) last released its quarterly 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 net margin of 0.77% and a return on equity of 0.05%. On average, equities research analysts forecast that Incyte Co. will post 4.86 EPS for the current fiscal year.

About Incyte

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.