Royal London Asset Management Ltd. Grows Stock Position in Incyte Co. (NASDAQ:INCY)

Royal London Asset Management Ltd. increased its position in Incyte Co. (NASDAQ:INCYFree Report) by 10.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,465 shares of the biopharmaceutical company’s stock after acquiring an additional 6,588 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Incyte were worth $4,487,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in INCY. Massachusetts Financial Services Co. MA increased its holdings in Incyte by 55.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 42,945 shares of the biopharmaceutical company’s stock worth $2,481,000 after acquiring an additional 15,319 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Incyte by 22.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 22,883 shares of the biopharmaceutical company’s stock worth $1,322,000 after purchasing an additional 4,248 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Incyte by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,229,200 shares of the biopharmaceutical company’s stock worth $71,011,000 after purchasing an additional 35,240 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in Incyte by 22.3% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 15,312 shares of the biopharmaceutical company’s stock worth $885,000 after purchasing an additional 2,796 shares during the period. Finally, HighTower Advisors LLC boosted its stake in Incyte by 21.4% in the 3rd quarter. HighTower Advisors LLC now owns 24,162 shares of the biopharmaceutical company’s stock worth $1,404,000 after purchasing an additional 4,266 shares during the period. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Stock Performance

INCY stock opened at $59.16 on Monday. The company has a quick ratio of 3.43, a current ratio of 3.47 and a debt-to-equity ratio of 0.01. The business’s fifty day simple moving average is $55.23 and its two-hundred day simple moving average is $58.05. Incyte Co. has a twelve month low of $50.27 and a twelve month high of $67.36. The firm has a market cap of $13.28 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 1.27 and a beta of 0.74.

Incyte (NASDAQ:INCYGet Free Report) last released its earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.31). Incyte had a return on equity of 12.83% and a net margin of 19.78%. The business had revenue of $880.89 million during the quarter, compared to analysts’ expectations of $935.85 million. Analysts predict that Incyte Co. will post 3.57 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Bank of America dropped their price target on Incyte from $69.00 to $67.00 and set a “neutral” rating for the company in a research note on Wednesday, March 13th. StockNews.com downgraded Incyte from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft started coverage on Incyte in a research report on Thursday, May 23rd. They set a “hold” rating and a $55.00 target price for the company. Cantor Fitzgerald started coverage on Incyte in a research report on Tuesday, April 23rd. They set a “neutral” rating for the company. Finally, Jefferies Financial Group started coverage on Incyte in a research report on Friday, February 23rd. They set a “buy” rating and a $81.00 target price for the company. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $73.69.

Read Our Latest Research Report on Incyte

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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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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