Todd Asset Management LLC Lowers Stock Position in Incyte Co. (NASDAQ:INCY)

Todd Asset Management LLC reduced its position in Incyte Co. (NASDAQ:INCY) by 3.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 345,710 shares of the biopharmaceutical company’s stock after selling 12,957 shares during the period. Todd Asset Management LLC’s holdings in Incyte were worth $23,878,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. raised its holdings 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 during the period. Brooklyn Investment Group purchased a new position in Incyte in the third quarter valued at approximately $30,000. R Squared Ltd purchased a new stake in Incyte during the fourth quarter worth approximately $30,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Incyte in the third quarter worth $33,000. Finally, Groupama Asset Managment lifted its holdings in shares of Incyte by 11.4% during the 3rd quarter. Groupama Asset Managment now owns 59,597 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 6,105 shares in the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on INCY. Bank of America raised Incyte from a “neutral” rating to a “buy” rating and raised their price objective for the company from $68.00 to $90.00 in a research report on Tuesday, October 29th. Morgan Stanley raised their target price on Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. The Goldman Sachs Group upped their price target on Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. JMP Securities reiterated a “market perform” rating on shares of Incyte in a research note on Tuesday, February 11th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $75.25.

Incyte Stock Performance

Incyte stock opened at $74.01 on Tuesday. The company has a market cap of $14.32 billion, a PE ratio of 274.12, a P/E/G ratio of 0.41 and a beta of 0.70. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95. The company has a fifty day moving average price of $71.32 and a two-hundred day moving average price of $69.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94.

Incyte (NASDAQ:INCY) last announced its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a net margin of 0.77% and a return on equity of 0.05%. Research analysts expect that Incyte Co. will post 4.86 earnings per share for the current year.

Insider Transactions at Incyte

In other Incyte news, EVP Steven H. Stein sold 12,352 shares of Incyte stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total transaction of $897,866.88. Following the completion of the sale, the executive vice president now owns 66,967 shares of the company’s stock, valued at $4,867,831.23. This trade represents a 15.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Thomas Tray sold 650 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $69.31, for a total transaction of $45,051.50. Following the completion of the transaction, the insider now directly owns 23,312 shares in the company, valued at $1,615,754.72. This trade represents a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,695 shares of company stock valued at $1,444,356. Corporate insiders own 17.60% of the company’s stock.

Incyte Profile

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.