Rockefeller Capital Management L.P. Has $2.97 Million Holdings in Incyte Corporation $INCY

Rockefeller Capital Management L.P. lifted its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 2.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,570 shares of the biopharmaceutical company’s stock after purchasing an additional 864 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Incyte were worth $2,967,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC increased its stake in Incyte by 92.3% during the 1st quarter. AQR Capital Management LLC now owns 6,736,169 shares of the biopharmaceutical company’s stock worth $405,787,000 after acquiring an additional 3,233,356 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in shares of Incyte by 71.5% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 2,386,311 shares of the biopharmaceutical company’s stock worth $162,508,000 after purchasing an additional 995,204 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Incyte by 65.6% in the first quarter. Acadian Asset Management LLC now owns 2,511,872 shares of the biopharmaceutical company’s stock worth $152,062,000 after purchasing an additional 994,609 shares during the period. SG Americas Securities LLC raised its stake in Incyte by 2,325.7% in the second quarter. SG Americas Securities LLC now owns 949,174 shares of the biopharmaceutical company’s stock valued at $64,639,000 after purchasing an additional 910,044 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Incyte during the second quarter worth about $50,076,000. 96.97% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on INCY. JPMorgan Chase & Co. boosted their target price on shares of Incyte from $73.00 to $89.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. BMO Capital Markets restated an “underperform” rating and set a $60.00 price objective (up from $52.00) on shares of Incyte in a research report on Wednesday, July 30th. Zacks Research downgraded Incyte from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Royal Bank Of Canada lifted their price target on Incyte from $81.00 to $84.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 29th. Finally, Citigroup upped their price objective on Incyte from $88.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, July 30th. Seven research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $92.77.

Insider Activity at Incyte

In related news, EVP Lee Heeson sold 3,074 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $94.02, for a total value of $289,017.48. Following the completion of the transaction, the executive vice president owned 29,241 shares in the company, valued at $2,749,238.82. This trade represents a 9.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sheila A. Denton sold 598 shares of Incyte stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $101.36, for a total transaction of $60,613.28. Following the sale, the executive vice president owned 26,569 shares in the company, valued at approximately $2,693,033.84. This represents a 2.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 4,227 shares of company stock valued at $396,327 in the last ninety days. 17.80% of the stock is currently owned by insiders.

Incyte Stock Up 0.3%

Shares of INCY opened at $102.06 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.78 and a current ratio of 3.20. Incyte Corporation has a 52 week low of $53.56 and a 52 week high of $109.28. The stock has a market capitalization of $20.04 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 0.70 and a beta of 0.74. The stock has a fifty day moving average of $92.05 and a 200-day moving average of $79.56.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, October 28th. The biopharmaceutical company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.61. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.26 billion. Incyte had a return on equity of 26.56% and a net margin of 24.69%.Incyte’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 EPS. As a group, sell-side analysts anticipate that Incyte Corporation will post 4.86 earnings per share for the current fiscal year.

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.