Robeco Institutional Asset Management B.V. Increases Stake in Incyte Corporation $INCY

Robeco Institutional Asset Management B.V. boosted its position in shares of Incyte Corporation (NASDAQ:INCY – Free Report) by 7.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 2,480,793 shares of the biopharmaceutical company’s stock after purchasing an additional 161,405 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 1.26% of Incyte worth $245,028,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC grew its position in Incyte by 21.8% during the 2nd quarter. AQR Capital Management LLC now owns 8,201,455 shares of the biopharmaceutical company’s stock valued at $558,519,000 after purchasing an additional 1,465,286 shares during the last quarter. LSV Asset Management lifted its stake in shares of Incyte by 3.2% in the 3rd quarter. LSV Asset Management now owns 3,986,097 shares of the biopharmaceutical company’s stock worth $338,061,000 after purchasing an additional 124,266 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Incyte by 13.7% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,103,946 shares of the biopharmaceutical company’s stock worth $263,246,000 after acquiring an additional 373,298 shares during the period. Man Group plc raised its stake in Incyte by 20.0% during the 3rd quarter. Man Group plc now owns 1,933,547 shares of the biopharmaceutical company’s stock worth $163,984,000 after acquiring an additional 322,877 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its stake in Incyte by 34.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,743,794 shares of the biopharmaceutical company’s stock worth $147,891,000 after acquiring an additional 448,911 shares during the period. 96.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Incyte

In related news, insider Pablo J. Cagnoni sold 18,667 shares of the firm’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $94.24, for a total value of $1,759,178.08. Following the completion of the transaction, the insider directly owned 234,800 shares of the company’s stock, valued at approximately $22,127,552. This trade represents a 7.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 17.80% of the company’s stock.

Incyte Trading Down 0.9%

Shares of INCY opened at $96.07 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.32 and a quick ratio of 3.25. Incyte Corporation has a 1 year low of $55.11 and a 1 year high of $112.29. The company has a 50 day simple moving average of $97.37 and a two-hundred day simple moving average of $97.70. The firm has a market cap of $19.12 billion, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 0.76 and a beta of 0.85.

Incyte (NASDAQ:INCY – Get Free Report) last announced its quarterly earnings data on Tuesday, February 10th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.16). Incyte had a net margin of 25.03% and a return on equity of 26.34%. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same period last year, the business earned $1.43 earnings per share. The company’s quarterly revenue was up 27.8% compared to the same quarter last year. On average, equities analysts expect that Incyte Corporation will post 4.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on INCY. Royal Bank Of Canada decreased their target price on shares of Incyte from $95.00 to $92.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 11th. Jefferies Financial Group lowered shares of Incyte from a “buy” rating to a “hold” rating and cut their price objective for the company from $120.00 to $94.00 in a report on Monday, March 16th. HC Wainwright reaffirmed a “buy” rating and set a $135.00 price objective on shares of Incyte in a report on Wednesday, March 25th. Barclays reaffirmed an “overweight” rating on shares of Incyte in a report on Tuesday, March 24th. Finally, Morgan Stanley set a $102.00 price objective on shares of Incyte in a report on Wednesday, February 11th. Ten research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Incyte currently has a consensus rating of “Hold” and a consensus target price of $104.89.

View Our Latest Stock Report on Incyte

Incyte Company Profile

(Free Report)

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.

Further Reading

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