Los Angeles Capital Management LLC Grows Stake in Incyte Co. (NASDAQ:INCY)

Los Angeles Capital Management LLC boosted its position in shares of Incyte Co. (NASDAQ:INCY) by 94.1% during the 4th quarter, HoldingsChannel reports. The firm owned 407,201 shares of the biopharmaceutical company’s stock after buying an additional 197,406 shares during the period. Los Angeles Capital Management LLC’s holdings in Incyte were worth $28,125,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. CWA Asset Management Group LLC purchased a new position in Incyte during the 4th quarter worth $1,933,000. Orion Portfolio Solutions LLC purchased a new position in Incyte during the 3rd quarter worth $770,000. Greenwood Capital Associates LLC purchased a new position in shares of Incyte in the 3rd quarter valued at $433,000. Tri Ri Asset Management Corp purchased a new position in shares of Incyte in the 3rd quarter valued at $3,292,000. Finally, Cypress Capital Group purchased a new position in shares of Incyte in the 3rd quarter valued at $971,000. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on INCY. Stifel Nicolaus lifted their price target on Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a report on Monday, February 10th. Oppenheimer lifted their price target on Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. William Blair reiterated an “outperform” rating on shares of Incyte in a report on Friday, December 13th. JPMorgan Chase & Co. lifted their price target on Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company raised their price objective on Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $75.25.

Incyte Stock Performance

Shares of INCY opened at $74.40 on Wednesday. The stock has a 50-day moving average of $71.42 and a two-hundred day moving average of $69.70. Incyte Co. has a one year low of $50.35 and a one year high of $83.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. The stock has a market cap of $14.40 billion, a P/E ratio of 275.57, a P/E/G ratio of 0.41 and a beta of 0.70.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. As a group, research analysts predict that Incyte Co. will post 4.86 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Vijay K. Iyengar sold 6,043 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $75.38, for a total value of $455,521.34. Following the completion of the transaction, the executive vice president now owns 30,658 shares of the company’s stock, valued at $2,311,000.04. The trade was a 16.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Steven H. Stein sold 12,352 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total value of $897,866.88. Following the completion of the transaction, the executive vice president now directly owns 66,967 shares of the company’s stock, valued at approximately $4,867,831.23. This trade represents a 15.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,695 shares of company stock valued at $1,444,356. 17.60% of the stock is owned by company insiders.

Incyte Company 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.