Grantham Mayo Van Otterloo & Co. LLC Lowers Stock Holdings in Incyte Corporation $INCY

Grantham Mayo Van Otterloo & Co. LLC reduced its position in Incyte Corporation (NASDAQ:INCY) by 18.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 248,843 shares of the biopharmaceutical company’s stock after selling 56,795 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Incyte were worth $21,104,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of INCY. Vanguard Group Inc. lifted its position in shares of Incyte by 0.7% during the second quarter. Vanguard Group Inc. now owns 20,135,393 shares of the biopharmaceutical company’s stock worth $1,371,220,000 after purchasing an additional 137,570 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Incyte by 21.8% in the second quarter. AQR Capital Management LLC now owns 8,201,455 shares of the biopharmaceutical company’s stock valued at $558,519,000 after purchasing an additional 1,465,286 shares during the period. Geode Capital Management LLC grew its holdings in shares of Incyte by 3.3% in the second quarter. Geode Capital Management LLC now owns 4,347,731 shares of the biopharmaceutical company’s stock valued at $294,899,000 after purchasing an additional 139,740 shares in the last quarter. LSV Asset Management grew its holdings in shares of Incyte by 3.2% in the third quarter. LSV Asset Management now owns 3,986,097 shares of the biopharmaceutical company’s stock valued at $338,061,000 after purchasing an additional 124,266 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Incyte by 7.3% during the 2nd quarter. Invesco Ltd. now owns 3,401,018 shares of the biopharmaceutical company’s stock worth $231,609,000 after buying an additional 232,268 shares during the period. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on INCY shares. Zacks Research lowered shares of Incyte from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Stifel Nicolaus boosted their price target on shares of Incyte from $119.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, February 11th. Wall Street Zen lowered Incyte from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 14th. Morgan Stanley set a $102.00 price objective on Incyte in a research note on Wednesday, February 11th. Finally, HC Wainwright reiterated a “buy” rating and issued a $135.00 target price on shares of Incyte in a report on Wednesday, February 11th. Ten equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $104.00.

Insider Transactions at Incyte

In other news, insider Thomas Tray sold 2,774 shares of the company’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $100.00, for a total value of $277,400.00. Following the completion of the transaction, the insider owned 22,973 shares in the company, valued at approximately $2,297,300. This represents a 10.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mohamed Khairie Issa sold 10,856 shares of the stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $109.07, for a total transaction of $1,184,063.92. Following the completion of the transaction, the executive vice president directly owned 66,132 shares in the company, valued at $7,213,017.24. This trade represents a 14.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 72,561 shares of company stock worth $7,195,307. 17.80% of the stock is currently owned by insiders.

Incyte Price Performance

Shares of NASDAQ INCY opened at $95.94 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.25 and a current ratio of 3.32. Incyte Corporation has a fifty-two week low of $53.56 and a fifty-two week high of $112.29. The firm has a market capitalization of $19.09 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 0.76 and a beta of 0.84. The stock’s 50-day simple moving average is $102.28 and its 200-day simple moving average is $96.32.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, February 10th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.16). The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.35 billion. Incyte had a net margin of 25.03% and a return on equity of 26.34%. The business’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same period last year, the company earned $1.43 earnings per share. As a group, equities research analysts forecast that Incyte Corporation will post 4.86 EPS for the current fiscal year.

Incyte Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.