Los Angeles Capital Management LLC Raises Stake in Incyte Corporation $INCY

Los Angeles Capital Management LLC boosted its position in Incyte Corporation (NASDAQ:INCY) by 30.0% in the 4th quarter, Holdings Channel reports. The fund owned 2,288,874 shares of the biopharmaceutical company’s stock after purchasing an additional 527,703 shares during the period. Incyte makes up about 0.7% of Los Angeles Capital Management LLC’s investment portfolio, making the stock its 26th biggest position. Los Angeles Capital Management LLC’s holdings in Incyte were worth $211,927,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of INCY. NewEdge Advisors LLC grew its stake in Incyte by 369.3% in the 1st quarter. NewEdge Advisors LLC now owns 12,597 shares of the biopharmaceutical company’s stock worth $763,000 after acquiring an additional 9,913 shares during the period. Jones Financial Companies Lllp grew its stake in Incyte by 15.1% in the 1st quarter. Jones Financial Companies Lllp now owns 4,944 shares of the biopharmaceutical company’s stock worth $299,000 after acquiring an additional 648 shares during the period. Goldman Sachs Group Inc. boosted its stake in Incyte by 6.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 814,559 shares of the biopharmaceutical company’s stock worth $49,322,000 after buying an additional 48,751 shares during the last quarter. United Services Automobile Association acquired a new stake in Incyte in the 1st quarter worth about $219,000. Finally, Focus Partners Wealth boosted its stake in Incyte by 74.1% in the 1st quarter. Focus Partners Wealth now owns 21,024 shares of the biopharmaceutical company’s stock worth $1,273,000 after buying an additional 8,951 shares during the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Royal Bank Of Canada decreased their price target on Incyte from $95.00 to $92.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 11th. Oppenheimer raised their price target on Incyte from $84.00 to $90.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 29th. Stifel Nicolaus raised their price target on Incyte from $120.00 to $123.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. HC Wainwright reissued a “buy” rating and issued a $135.00 price target on shares of Incyte in a research note on Thursday, May 21st. Finally, Jefferies Financial Group lowered Incyte from a “buy” rating to a “hold” rating and decreased their price target for the stock from $120.00 to $94.00 in a research note on Monday, March 16th. Nine equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $104.00.

Incyte Stock Performance

NASDAQ INCY opened at $102.38 on Friday. The firm has a market capitalization of $20.45 billion, a P/E ratio of 14.46, a P/E/G ratio of 0.99 and a beta of 0.79. Incyte Corporation has a 1-year low of $66.74 and a 1-year high of $112.29. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.68 and a quick ratio of 3.60. The business’s 50-day simple moving average is $96.49 and its 200-day simple moving average is $99.09.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.43. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.22 billion. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The company’s revenue was up 20.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.16 EPS. Equities analysts predict that Incyte Corporation will post 6.65 EPS for the current year.

Insider Activity at Incyte

In related news, insider Pablo J. Cagnoni sold 18,667 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $96.50, for a total transaction of $1,801,365.50. Following the sale, the insider directly owned 262,692 shares in the company, valued at approximately $25,349,778. This trade represents a 6.63% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 16.20% of the company’s stock.

Incyte Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.