Robeco Institutional Asset Management B.V. Reduces Stock Position in Incyte Corporation $INCY

Robeco Institutional Asset Management B.V. reduced its position in Incyte Corporation (NASDAQ:INCY) by 2.8% in the third quarter, Holdings Channel.com reports. The fund owned 2,319,388 shares of the biopharmaceutical company’s stock after selling 66,923 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Incyte were worth $196,707,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. EP Wealth Advisors LLC grew its position in Incyte by 15.2% during the first quarter. EP Wealth Advisors LLC now owns 6,531 shares of the biopharmaceutical company’s stock worth $395,000 after buying an additional 864 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Incyte by 16.0% during the 1st quarter. Advisors Asset Management Inc. now owns 13,518 shares of the biopharmaceutical company’s stock valued at $819,000 after acquiring an additional 1,863 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Incyte by 26.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,467 shares of the biopharmaceutical company’s stock valued at $3,964,000 after acquiring an additional 13,523 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Incyte by 369.3% during the first quarter. NewEdge Advisors LLC now owns 12,597 shares of the biopharmaceutical company’s stock worth $763,000 after purchasing an additional 9,913 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV increased its position in shares of Incyte by 1.3% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 20,627 shares of the biopharmaceutical company’s stock worth $1,249,000 after purchasing an additional 256 shares during the last quarter. Institutional investors own 96.97% of the company’s stock.

Incyte Trading Up 0.4%

NASDAQ:INCY opened at $101.79 on Tuesday. The firm has a market capitalization of $19.98 billion, a P/E ratio of 17.05, a PEG ratio of 0.61 and a beta of 0.82. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.20 and a quick ratio of 3.13. Incyte Corporation has a one year low of $53.56 and a one year high of $109.28. The company’s 50-day simple moving average is $100.86 and its 200 day simple moving average is $87.26.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, October 28th. The biopharmaceutical company reported $2.26 EPS for the quarter, topping the consensus estimate of $1.65 by $0.61. Incyte had a return on equity of 26.56% and a net margin of 24.69%.The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the company posted $1.07 earnings per share. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, analysts forecast that Incyte Corporation will post 4.86 EPS for the current fiscal year.

Insider Buying and Selling at Incyte

In related news, EVP Steven H. Stein sold 20,105 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $102.51, for a total transaction of $2,060,963.55. Following the transaction, the executive vice president owned 63,129 shares in the company, valued at $6,471,353.79. This represents a 24.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas Tray sold 2,774 shares of the stock in a transaction on Friday, December 19th. The shares were sold at an average price of $100.00, for a total value of $277,400.00. Following the transaction, the insider directly owned 22,973 shares in the company, valued at $2,297,300. The trade was a 10.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 88,318 shares of company stock worth $8,708,893. 17.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

INCY has been the topic of a number of research analyst reports. Stifel Nicolaus set a $119.00 target price on Incyte in a research note on Monday. Royal Bank Of Canada upped their price objective on Incyte from $81.00 to $84.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 29th. Mizuho set a $121.00 price objective on Incyte and gave the company an “outperform” rating in a report on Monday, December 8th. Wells Fargo & Company upped their target price on Incyte from $97.00 to $116.00 and gave the stock an “overweight” rating in a research note on Monday, December 8th. Finally, Barclays increased their price target on shares of Incyte from $101.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, November 24th. Eight analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $100.07.

Incyte Company 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.