Assenagon Asset Management S.A. Lowers Stock Position in Incyte Co. (NASDAQ:INCY)

Assenagon Asset Management S.A. trimmed its stake in Incyte Co. (NASDAQ:INCY) by 3.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 6,428 shares of the biopharmaceutical company’s stock after selling 246 shares during the period. Assenagon Asset Management S.A.’s holdings in Incyte were worth $444,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in Incyte in the third quarter valued at approximately $30,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Incyte in the third quarter valued at $33,000. Cromwell Holdings LLC raised its holdings in shares of Incyte by 101.1% in the 3rd quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock valued at $37,000 after buying an additional 283 shares during the period. Groupama Asset Managment lifted its stake in Incyte by 11.4% during the 3rd quarter. Groupama Asset Managment now owns 59,597 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 6,105 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in Incyte during the 3rd quarter valued at about $45,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on INCY shares. Morgan Stanley increased their price target on shares of Incyte from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a report on Friday, January 10th. Wolfe Research started coverage on shares of Incyte in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $84.00 price target for the company. BMO Capital Markets reiterated an “underperform” rating and issued a $52.00 price objective (up from $48.00) on shares of Incyte in a research note on Wednesday, October 30th. Finally, JMP Securities reissued a “market perform” rating on shares of Incyte in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $75.71.

Incyte Stock Up 0.1 %

Shares of NASDAQ:INCY opened at $72.59 on Friday. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. The firm has a 50 day simple moving average of $71.69 and a 200-day simple moving average of $68.43. The company has a market capitalization of $13.98 billion, a PE ratio of 518.54, a P/E/G ratio of 0.53 and a beta of 0.71. Incyte Co. has a twelve month low of $50.35 and a twelve month high of $83.95.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. Incyte’s revenue was up 23.8% on a year-over-year basis. During the same period last year, the firm earned $0.91 earnings per share. On average, equities analysts predict that Incyte Co. will post 0.39 EPS for the current fiscal year.

Insider Activity at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 3,680 shares of Incyte stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total value of $293,222.40. Following the transaction, the executive vice president now directly owns 58,042 shares in the company, valued at approximately $4,624,786.56. The trade was a 5.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Vijay K. Iyengar sold 6,043 shares of the 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. The trade was a 16.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,375 shares of company stock valued at $1,737,578 in the last three months. 17.60% of the stock is currently owned by company insiders.

Incyte Company Profile

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.