Axa S.A. Reduces Position in Incyte Co. (NASDAQ:INCY)

AXA S.A. decreased its holdings in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 26.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 83,719 shares of the biopharmaceutical company's stock after selling 29,805 shares during the quarter. AXA S.A.'s holdings in Incyte were worth $5,782,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in INCY. CWA Asset Management Group LLC acquired a new position in shares of Incyte during the 4th quarter worth approximately $1,933,000. Wells Fargo & Company MN raised its position in Incyte by 61.3% during the fourth quarter. Wells Fargo & Company MN now owns 174,190 shares of the biopharmaceutical company's stock worth $12,031,000 after acquiring an additional 66,220 shares in the last quarter. Pallas Capital Advisors LLC acquired a new stake in Incyte in the fourth quarter valued at $1,006,000. JPMorgan Chase & Co. grew its position in shares of Incyte by 13.5% in the 4th quarter. JPMorgan Chase & Co. now owns 323,640 shares of the biopharmaceutical company's stock valued at $22,354,000 after acquiring an additional 38,550 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of Incyte by 262.2% during the 4th quarter. SG Americas Securities LLC now owns 99,407 shares of the biopharmaceutical company's stock worth $6,866,000 after purchasing an additional 71,963 shares during the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Incyte

In related news, EVP Barry P. Flannelly sold 19,807 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $67.69, for a total value of $1,340,735.83. Following the sale, the executive vice president now owns 33,567 shares in the company, valued at approximately $2,272,150.23. This trade represents a 37.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Sheila A. Denton sold 599 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total transaction of $41,924.01. Following the sale, the executive vice president now owns 25,848 shares of the company's stock, valued at approximately $1,809,101.52. This represents a 2.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,475 shares of company stock valued at $2,424,751 in the last ninety days. 17.60% of the stock is currently owned by corporate insiders.

Incyte Trading Up 3.0%

INCY traded up $1.78 during midday trading on Monday, reaching $60.76. 306,279 shares of the company's stock traded hands, compared to its average volume of 2,354,011. The stock has a market capitalization of $11.76 billion, a price-to-earnings ratio of 224.95, a P/E/G ratio of 0.41 and a beta of 0.68. Incyte Co. has a 52 week low of $53.56 and a 52 week high of $83.95. The firm has a fifty day moving average of $61.31 and a two-hundred day moving average of $68.69. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94.

Incyte (NASDAQ:INCY - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.15. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $996.17 million. Incyte had a return on equity of 0.05% and a net margin of 0.77%. The firm's quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 earnings per share. On average, equities analysts anticipate that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on INCY. Citigroup cut their price target on Incyte from $97.00 to $88.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. Morgan Stanley decreased their price target on shares of Incyte from $69.00 to $65.00 and set an "equal weight" rating on the stock in a research note on Monday, March 24th. JMP Securities reissued a "market perform" rating on shares of Incyte in a report on Tuesday, February 11th. StockNews.com upgraded shares of Incyte from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, April 30th. Finally, Royal Bank of Canada upped their target price on Incyte from $64.00 to $67.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $73.53.

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.