TD Asset Management Inc Cuts Stock Holdings in Incyte Corporation $INCY

TD Asset Management Inc reduced its stake in Incyte Corporation (NASDAQ:INCY) by 13.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,555 shares of the biopharmaceutical company’s stock after selling 19,913 shares during the period. TD Asset Management Inc owned 0.06% of Incyte worth $8,414,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of INCY. AQR Capital Management LLC raised its stake in Incyte by 92.3% in the first quarter. AQR Capital Management LLC now owns 6,736,169 shares of the biopharmaceutical company’s stock worth $405,787,000 after buying an additional 3,233,356 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in Incyte by 71.5% in the second quarter. Robeco Institutional Asset Management B.V. now owns 2,386,311 shares of the biopharmaceutical company’s stock worth $162,508,000 after buying an additional 995,204 shares in the last quarter. Acadian Asset Management LLC raised its stake in 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 buying an additional 994,609 shares in the last quarter. Victory Capital Management Inc. raised its stake in Incyte by 581.3% in the first quarter. Victory Capital Management Inc. now owns 813,140 shares of the biopharmaceutical company’s stock worth $49,236,000 after buying an additional 693,782 shares in the last quarter. Finally, Jupiter Asset Management Ltd. increased its stake in shares of Incyte by 469.9% during the first quarter. Jupiter Asset Management Ltd. now owns 829,764 shares of the biopharmaceutical company’s stock valued at $50,242,000 after purchasing an additional 684,171 shares in the last quarter. 96.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Oppenheimer cut shares of Incyte from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 8th. Stifel Nicolaus raised their target price on shares of Incyte from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. UBS Group restated a “neutral” rating and issued a $68.00 target price (up previously from $62.00) on shares of Incyte in a report on Wednesday, July 30th. Bank of America raised their target price on shares of Incyte from $90.00 to $104.00 and gave the stock a “buy” rating in a report on Thursday, September 4th. Finally, BMO Capital Markets restated an “underperform” rating and issued a $60.00 target price (up previously from $52.00) on shares of Incyte in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Incyte has an average rating of “Hold” and an average price target of $84.79.

Incyte Trading Up 0.3%

Shares of INCY stock opened at $87.57 on Monday. Incyte Corporation has a 1 year low of $53.56 and a 1 year high of $92.86. The firm has a fifty day moving average price of $85.20 and a 200-day moving average price of $72.61. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.85 and a quick ratio of 2.78. The company has a market cap of $17.10 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 0.68 and a beta of 0.73.

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.