Los Angeles Capital Management LLC Buys 424,934 Shares of Incyte Co. (NASDAQ:INCY)

Los Angeles Capital Management LLC boosted its stake in shares of Incyte Co. (NASDAQ:INCY) by 37.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,570,296 shares of the biopharmaceutical company’s stock after acquiring an additional 424,934 shares during the quarter. Los Angeles Capital Management LLC owned about 0.70% of Incyte worth $98,599,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its stake in Incyte by 4,220.0% during the fourth quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 422 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in Incyte during the fourth quarter worth approximately $31,000. Livforsakringsbolaget Skandia Omsesidigt increased its stake in Incyte by 157.3% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 772 shares of the biopharmaceutical company’s stock worth $48,000 after acquiring an additional 472 shares during the last quarter. Allworth Financial LP increased its stake in Incyte by 40.0% during the fourth quarter. Allworth Financial LP now owns 802 shares of the biopharmaceutical company’s stock worth $50,000 after acquiring an additional 229 shares during the last quarter. Finally, NBC Securities Inc. bought a new position in shares of Incyte during the third quarter valued at approximately $83,000. 96.97% of the stock is owned by institutional investors.

Incyte Trading Up 0.3 %

NASDAQ:INCY traded up $0.15 during midday trading on Thursday, hitting $53.09. The stock had a trading volume of 760,574 shares, compared to its average volume of 1,785,572. The stock has a 50-day moving average of $56.39 and a 200 day moving average of $57.61. The company has a quick ratio of 3.36, a current ratio of 3.35 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $11.92 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 1.22 and a beta of 0.69. Incyte Co. has a one year low of $50.27 and a one year high of $69.82.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.09). The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. Incyte had a return on equity of 12.83% and a net margin of 19.78%. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 EPS. As a group, sell-side analysts forecast that Incyte Co. will post 3.81 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on INCY. BMO Capital Markets cut their target price on Incyte from $56.00 to $52.00 and set a “market perform” rating on the stock in a research note on Wednesday. William Blair reaffirmed an “outperform” rating on shares of Incyte in a research note on Tuesday, February 6th. JMP Securities cut Incyte from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 14th. Cantor Fitzgerald began coverage on Incyte in a research note on Tuesday, April 23rd. They set a “neutral” rating on the stock. Finally, Stifel Nicolaus upped their target price on Incyte from $67.00 to $68.00 and gave the company a “hold” rating in a research note on Wednesday, February 14th. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $74.93.

Incyte 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.