LSV Asset Management Purchases 223,857 Shares of Incyte Corporation $INCY

by · The Cerbat Gem

LSV Asset Management raised its holdings in Incyte Corporation (NASDAQ:INCY – Free Report) by 6.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,861,831 shares of the biopharmaceutical company’s stock after acquiring an additional 223,857 shares during the quarter. LSV Asset Management’s holdings in Incyte were worth $262,991,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of INCY. Assenagon Asset Management S.A. raised its holdings in shares of Incyte by 1.7% during the second quarter. Assenagon Asset Management S.A. now owns 8,993 shares of the biopharmaceutical company’s stock valued at $612,000 after purchasing an additional 147 shares during the period. Farther Finance Advisors LLC raised its stake in Incyte by 10.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,706 shares of the biopharmaceutical company’s stock worth $116,000 after buying an additional 156 shares during the period. Advisory Alpha LLC boosted its holdings in Incyte by 2.1% in the first quarter. Advisory Alpha LLC now owns 8,056 shares of the biopharmaceutical company’s stock worth $488,000 after acquiring an additional 166 shares in the last quarter. Wealthfront Advisers LLC increased its holdings in shares of Incyte by 2.4% during the second quarter. Wealthfront Advisers LLC now owns 7,366 shares of the biopharmaceutical company’s stock valued at $502,000 after acquiring an additional 171 shares in the last quarter. Finally, Huntington National Bank raised its position in shares of Incyte by 24.3% during the second quarter. Huntington National Bank now owns 1,002 shares of the biopharmaceutical company’s stock worth $68,000 after purchasing an additional 196 shares during the period. 96.97% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Sheila A. Denton sold 598 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $101.36, for a total transaction of $60,613.28. Following the completion of the sale, the executive vice president owned 26,569 shares in the company, valued at approximately $2,693,033.84. This trade represents a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Lee Heeson sold 3,074 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $94.02, for a total transaction of $289,017.48. Following the completion of the transaction, the executive vice president owned 29,241 shares in the company, valued at approximately $2,749,238.82. The trade was a 9.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 4,227 shares of company stock valued at $396,327. 17.80% of the stock is owned by company insiders.

Analyst Ratings Changes

INCY has been the subject of a number of recent research reports. BMO Capital Markets restated an “underperform” rating and set a $60.00 price target (up previously from $52.00) on shares of Incyte in a research note on Wednesday, July 30th. Stifel Nicolaus boosted their target price on shares of Incyte from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Wells Fargo & Company upped their target price on shares of Incyte from $89.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Royal Bank Of Canada lifted their price target on Incyte from $81.00 to $84.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 29th. Finally, JPMorgan Chase & Co. lifted their target price on Incyte from $73.00 to $89.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. Seven equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Incyte currently has an average rating of “Hold” and a consensus target price of $92.77.

Read Our Latest Report on INCY

Incyte Stock Performance

Shares of INCY opened at $104.15 on Monday. The stock has a 50 day moving average of $90.34 and a 200 day moving average of $78.24. The company has a current ratio of 3.20, a quick ratio of 2.78 and a debt-to-equity ratio of 0.01. Incyte Corporation has a 12 month low of $53.56 and a 12 month high of $109.28. The company has a market capitalization of $20.45 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 0.70 and a beta of 0.74.

Incyte (NASDAQ:INCY – Get Free Report) last announced its quarterly earnings data on Tuesday, October 28th. The biopharmaceutical company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.61. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.26 billion. Incyte had a return on equity of 26.56% and a net margin of 24.69%.The business’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.07 EPS. As a group, sell-side analysts forecast that Incyte Corporation will post 4.86 earnings per share for the current year.

Incyte Company 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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