Incyte Corporation $INCY Shares Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. lessened its stake in Incyte Corporation (NASDAQ:INCY) by 9.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,200,605 shares of the biopharmaceutical company’s stock after selling 241,130 shares during the period. Robeco Institutional Asset Management B.V. owned 1.09% of Incyte worth $267,043,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Incyte in the 2nd quarter valued at approximately $2,044,189,000. Wellington Management Group LLP lifted its holdings in shares of Incyte by 9.5% during the second quarter. Wellington Management Group LLP now owns 3,575,521 shares of the biopharmaceutical company’s stock worth $405,321,000 after purchasing an additional 309,385 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Incyte by 10.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,975,544 shares of the biopharmaceutical company’s stock worth $185,873,000 after purchasing an additional 187,354 shares during the period. Legal & General Group Plc acquired a new stake in shares of Incyte during the second quarter worth $182,054,000. Finally, Pacer Advisors Inc. lifted its holdings in shares of Incyte by 2.2% during the first quarter. Pacer Advisors Inc. now owns 1,741,061 shares of the biopharmaceutical company’s stock worth $163,869,000 after purchasing an additional 37,790 shares during the period. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Price Performance

INCY opened at $116.61 on Wednesday. Incyte Corporation has a 12 month low of $84.02 and a 12 month high of $132.60. The stock has a market capitalization of $23.64 billion, a P/E ratio of 14.26, a P/E/G ratio of 4.05 and a beta of 0.74. The business has a 50 day simple moving average of $121.70 and a 200-day simple moving average of $111.20.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, July 28th. The biopharmaceutical company reported $3.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.94. Incyte had a return on equity of 29.93% and a net margin of 27.71%. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the company posted $1.57 earnings per share. Incyte’s quarterly revenue was up 37.7% on a year-over-year basis. Research analysts anticipate that Incyte Corporation will post 2.28 EPS for the current year.

Insiders Place Their Bets

In other news, insider Pablo Cagnoni sold 10,801 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $125.56, for a total transaction of $1,356,173.56. Following the transaction, the insider directly owned 183,200 shares of the company’s stock, valued at $23,002,592. This represents a 5.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Patrick Mayes sold 41,899 shares of the stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $119.46, for a total transaction of $5,005,254.54. Following the completion of the transaction, the executive vice president owned 61,441 shares of the company’s stock, valued at $7,339,741.86. This represents a 40.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 55,342 shares of company stock worth $6,659,208. Corporate insiders own 16.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Barclays lifted their price objective on shares of Incyte from $134.00 to $139.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Citigroup restated a “buy” rating on shares of Incyte in a research report on Monday, August 3rd. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research report on Friday, September 11th. HC Wainwright restated a “buy” rating and issued a $152.00 target price on shares of Incyte in a research note on Tuesday, October 13th. Finally, Morgan Stanley assumed coverage on shares of Incyte in a report on Tuesday. They issued an “equal weight” rating and a $119.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $129.33.

About Incyte

Incyte Corporation is a biopharmaceutical company that discovers, develops and commercializes medicines for oncology and inflammatory or autoimmune diseases. The company focuses on therapies that target specific biological pathways, including Janus kinase (JAK), fibroblast growth factor receptor (FGFR) and other mechanisms involved in cancer and immune-related conditions.

Its key products include Jakafi (ruxolitinib), a JAK inhibitor used in the United States for certain blood cancers and graft-versus-host disease; Opzelura (ruxolitinib cream), a topical treatment for atopic dermatitis and nonsegmental vitiligo; and Pemazyre (pemigatinib), an FGFR inhibitor approved for selected patients with cholangiocarcinoma and certain myeloid or lymphoid neoplasms.