Todd Asset Management LLC Sells 61,560 Shares of Incyte Corporation $INCY

Todd Asset Management LLC decreased its stake in shares of Incyte Corporation (NASDAQ:INCY) by 17.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 283,463 shares of the biopharmaceutical company’s stock after selling 61,560 shares during the quarter. Todd Asset Management LLC owned approximately 0.14% of Incyte worth $27,998,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. MQS Management LLC bought a new stake in Incyte during the 4th quarter valued at about $285,000. EverSource Wealth Advisors LLC lifted its holdings in Incyte by 5.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 13,261 shares of the biopharmaceutical company’s stock valued at $1,310,000 after buying an additional 639 shares in the last quarter. Lloyd Advisory Services LLC. bought a new stake in Incyte during the 4th quarter valued at about $74,000. Empirical Asset Management LLC bought a new stake in Incyte during the 4th quarter valued at about $966,000. Finally, Kingdom Financial Group LLC. bought a new stake in Incyte during the 4th quarter valued at about $43,000. Institutional investors own 96.97% of the company’s stock.

Incyte Stock Performance

NASDAQ INCY opened at $97.16 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.60 and a current ratio of 3.68. The company has a market capitalization of $19.41 billion, a price-to-earnings ratio of 13.72, a price-to-earnings-growth ratio of 0.93 and a beta of 0.79. The company’s 50-day simple moving average is $95.41 and its two-hundred day simple moving average is $99.62. Incyte Corporation has a one year low of $63.51 and a one year high of $112.29.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.43. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.22 billion. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.16 EPS. Equities analysts forecast that Incyte Corporation will post 6.74 EPS for the current fiscal year.

Insider Buying and Selling

In other Incyte news, insider Pablo J. Cagnoni sold 18,667 shares of the firm’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $96.50, for a total transaction of $1,801,365.50. Following the transaction, the insider owned 262,692 shares of the company’s stock, valued at approximately $25,349,778. This trade represents a 6.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 16.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on INCY shares. Wall Street Zen lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 14th. Oppenheimer lifted their price objective on shares of Incyte from $84.00 to $90.00 and gave the company a “market perform” rating in a report on Wednesday, April 29th. HC Wainwright reiterated a “buy” rating and set a $135.00 price objective on shares of Incyte in a report on Thursday. Wells Fargo & Company cut their target price on shares of Incyte from $107.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 11th. Finally, Royal Bank Of Canada cut their target price on shares of Incyte from $95.00 to $92.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 11th. Ten investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $104.00.

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.