Los Angeles Capital Management LLC Purchases 197,406 Shares of Incyte Co. (NASDAQ:INCY)

Los Angeles Capital Management LLC raised its position in Incyte Co. (NASDAQ:INCY) by 94.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 407,201 shares of the biopharmaceutical company’s stock after acquiring an additional 197,406 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.21% of Incyte worth $28,125,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Global X Japan Co. Ltd. increased its position in Incyte by 144.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 230 shares in the last quarter. R Squared Ltd purchased a new stake in Incyte in the fourth quarter worth about $30,000. Brooklyn Investment Group purchased a new stake in Incyte in the third quarter worth about $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Incyte in the third quarter worth about $33,000. Finally, Blue Trust Inc. increased its position in Incyte by 124.6% in the fourth quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 329 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Insider Buying and Selling

In related news, EVP Steven H. Stein sold 12,352 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total transaction of $897,866.88. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Vijay K. Iyengar sold 6,043 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $75.38, for a total value of $455,521.34. Following the sale, the executive vice president now directly owns 30,658 shares of the company’s stock, valued at $2,311,000.04. This represents a 16.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 19,695 shares of company stock valued at $1,444,356. Insiders own 17.60% of the company’s stock.

Incyte Price Performance

NASDAQ:INCY opened at $74.40 on Wednesday. The firm has a market capitalization of $14.40 billion, a price-to-earnings ratio of 275.57, a PEG ratio of 0.41 and a beta of 0.70. Incyte Co. has a 1 year low of $50.35 and a 1 year high of $83.95. The business has a 50 day simple moving average of $71.42 and a 200-day simple moving average of $69.70. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a net margin of 0.77% and a return on equity of 0.05%. Equities analysts forecast that Incyte Co. will post 4.86 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the company. Wells Fargo & Company upped their price target on Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. Citigroup cut their target price on Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. UBS Group began coverage on Incyte in a research report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 target price for the company. Oppenheimer increased their target price on Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, StockNews.com cut Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $75.25.

About Incyte

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.