Schroder Investment Management Group Buys 358,272 Shares of Incyte Co. (NASDAQ:INCY)

Schroder Investment Management Group grew its stake in Incyte Co. (NASDAQ:INCYFree Report) by 3,805.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 367,687 shares of the biopharmaceutical company’s stock after acquiring an additional 358,272 shares during the quarter. Schroder Investment Management Group owned 0.16% of Incyte worth $23,087,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Incyte by 1.3% in the third quarter. Vanguard Group Inc. now owns 22,159,419 shares of the biopharmaceutical company’s stock valued at $1,280,150,000 after purchasing an additional 289,882 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Incyte by 3.2% in the 3rd quarter. Invesco Ltd. now owns 3,922,045 shares of the biopharmaceutical company’s stock valued at $226,577,000 after buying an additional 120,838 shares during the period. LSV Asset Management increased its position in shares of Incyte by 119.6% in the 4th quarter. LSV Asset Management now owns 2,691,827 shares of the biopharmaceutical company’s stock valued at $169,020,000 after buying an additional 1,465,792 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in Incyte by 56.6% during the third quarter. Acadian Asset Management LLC now owns 2,684,621 shares of the biopharmaceutical company’s stock worth $155,053,000 after acquiring an additional 970,668 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Incyte by 5.9% during the third quarter. Northern Trust Corp now owns 2,127,688 shares of the biopharmaceutical company’s stock worth $122,917,000 after acquiring an additional 119,389 shares in the last quarter. 96.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Incyte news, insider Thomas Tray sold 1,093 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $58.91, for a total value of $64,388.63. Following the sale, the insider now owns 21,634 shares in the company, valued at $1,274,458.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 17.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. BMO Capital Markets reduced their target price on Incyte from $56.00 to $52.00 and set a “market perform” rating on the stock in a report on Wednesday, May 1st. TD Cowen reduced their target price on Incyte from $88.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Oppenheimer reduced their target price on Incyte from $92.00 to $84.00 and set an “outperform” rating on the stock in a report on Wednesday, April 24th. StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Incyte in a report on Thursday, May 23rd. They set a “hold” rating and a $55.00 target price on the stock. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $73.69.

Check Out Our Latest Research Report on INCY

Incyte Price Performance

NASDAQ:INCY opened at $59.40 on Tuesday. The stock has a market capitalization of $13.34 billion, a PE ratio of 18.00, a P/E/G ratio of 1.27 and a beta of 0.74. Incyte Co. has a 1-year low of $50.27 and a 1-year high of $67.36. The firm has a fifty day simple moving average of $55.29 and a 200 day simple moving average of $58.10. The company has a current ratio of 3.47, a quick ratio of 3.43 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCYGet Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.31). The firm had revenue of $880.89 million during the quarter, compared to analyst estimates of $935.85 million. Incyte had a net margin of 19.78% and a return on equity of 12.83%. On average, research analysts expect that Incyte Co. will post 3.57 EPS for the current fiscal year.

Incyte 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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