Schroder Investment Management Group Buys 358,272 Shares of Incyte Co. (NASDAQ:INCY)

Schroder Investment Management Group increased its stake in shares of Incyte Co. (NASDAQ:INCYFree Report) by 3,805.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 367,687 shares of the biopharmaceutical company’s stock after acquiring an additional 358,272 shares during the quarter. Schroder Investment Management Group’s holdings in Incyte were worth $23,087,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in Incyte by 1.3% in the third quarter. Vanguard Group Inc. now owns 22,159,419 shares of the biopharmaceutical company’s stock worth $1,280,150,000 after purchasing an additional 289,882 shares during the last quarter. Invesco Ltd. boosted its position in Incyte by 3.2% in the third quarter. Invesco Ltd. now owns 3,922,045 shares of the biopharmaceutical company’s stock worth $226,577,000 after purchasing an additional 120,838 shares during the last quarter. LSV Asset Management boosted its position in Incyte by 119.6% in the fourth quarter. LSV Asset Management now owns 2,691,827 shares of the biopharmaceutical company’s stock worth $169,020,000 after purchasing an additional 1,465,792 shares during the last quarter. Acadian Asset Management LLC boosted its position in Incyte by 56.6% in the third quarter. Acadian Asset Management LLC now owns 2,684,621 shares of the biopharmaceutical company’s stock worth $155,053,000 after purchasing an additional 970,668 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Incyte by 5.9% in the third quarter. Northern Trust Corp now owns 2,127,688 shares of the biopharmaceutical company’s stock worth $122,917,000 after purchasing an additional 119,389 shares during the last quarter. Institutional investors own 96.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Truist Financial reissued a “buy” rating and issued a $83.00 price objective (down previously from $84.00) on shares of Incyte in a research report on Wednesday, May 1st. Citigroup cut their price objective on Incyte from $82.00 to $81.00 and set a “buy” rating on the stock in a research report on Wednesday, February 14th. Jefferies Financial Group initiated coverage on Incyte in a research report on Friday, February 23rd. They set a “buy” rating and a $81.00 price target on the stock. Stifel Nicolaus upped their price target on Incyte from $67.00 to $68.00 and gave the company a “hold” rating in a research report on Wednesday, February 14th. Finally, Cantor Fitzgerald initiated coverage on Incyte in a research report on Tuesday, April 23rd. They set a “neutral” rating on the stock. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $73.69.

Read Our Latest Research Report on INCY

Incyte Stock Performance

NASDAQ:INCY opened at $59.40 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.43 and a current ratio of 3.47. Incyte Co. has a 52-week low of $50.27 and a 52-week high of $67.36. The firm has a market cap of $13.34 billion, a price-to-earnings ratio of 18.00, a PEG ratio of 1.27 and a beta of 0.74. The business’s fifty day moving average is $55.29 and its 200 day moving average is $58.10.

Incyte (NASDAQ:INCYGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The biopharmaceutical company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.31). Incyte had a net margin of 19.78% and a return on equity of 12.83%. The company had revenue of $880.89 million for the quarter, compared to the consensus estimate of $935.85 million. Research analysts predict that Incyte Co. will post 3.57 EPS for the current year.

Insiders Place Their Bets

In other Incyte news, insider Thomas Tray sold 1,093 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $58.91, for a total value of $64,388.63. Following the transaction, the insider now directly owns 21,634 shares in the company, valued at approximately $1,274,458.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 17.50% of the company’s stock.

Incyte Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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