Incyte Corporation $INCY Shares Purchased by Groupama Asset Managment

Key Points

• Groupama Asset Management increased its stake in Incyte Corporation by 12.4%, acquiring an additional 7,486 shares, bringing its total holdings to 68,045 shares valued at approximately $4,124,000.
• Many institutional investors have also modified their positions in Incyte, with 96.97% of the stock now owned by hedge funds and institutional investors.
• Analysts have updated their ratings for Incyte, with several upgrading their price targets, including Stifel Nicolaus raising it from $75.00 to $107.00, reflecting growing confidence in the company's prospects.

Groupama Asset Managment boosted its stake in Incyte Corporation (NASDAQ:INCY - Free Report) by 12.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,045 shares of the biopharmaceutical company's stock after purchasing an additional 7,486 shares during the period. Groupama Asset Managment's holdings in Incyte were worth $4,124,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Incyte by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 19,997,823 shares of the biopharmaceutical company's stock worth $1,210,868,000 after purchasing an additional 417,346 shares during the period. LSV Asset Management raised its position in Incyte by 4.9% in the first quarter. LSV Asset Management now owns 3,637,974 shares of the biopharmaceutical company's stock worth $220,279,000 after acquiring an additional 170,484 shares during the period. AQR Capital Management LLC raised its position in Incyte by 29.7% in the fourth quarter. AQR Capital Management LLC now owns 3,502,813 shares of the biopharmaceutical company's stock worth $241,519,000 after acquiring an additional 801,090 shares during the period. Invesco Ltd. raised its position in Incyte by 4.0% in the first quarter. Invesco Ltd. now owns 3,168,750 shares of the biopharmaceutical company's stock worth $191,868,000 after acquiring an additional 120,543 shares during the period. Finally, Bellevue Group AG raised its position in Incyte by 0.3% in the fourth quarter. Bellevue Group AG now owns 2,157,478 shares of the biopharmaceutical company's stock worth $149,017,000 after acquiring an additional 6,927 shares during the period. Institutional investors own 96.97% of the company's stock.

Analyst Ratings Changes

INCY has been the subject of a number of recent analyst reports. UBS Group reiterated a "neutral" rating and issued a $68.00 price target (up from $62.00) on shares of Incyte in a research report on Wednesday, July 30th. Barclays began coverage on Incyte in a research report on Friday, August 1st. They set an "overweight" rating and a $90.00 target price for the company. BMO Capital Markets reaffirmed an "underperform" rating and issued a $60.00 price target (up previously from $52.00) on shares of Incyte in a report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their target price on Incyte from $67.00 to $73.00 and gave the company a "neutral" rating in a research report on Friday. Finally, Wall Street Zen raised Incyte from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, April 30th. Seven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $81.60.

Insider Activity

In related news, EVP Steven H. Stein sold 3,706 shares of the firm's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $67.94, for a total transaction of $251,785.64. Following the sale, the executive vice president directly owned 102,886 shares of the company's stock, valued at $6,990,074.84. This trade represents a 3.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Sheila A. Denton sold 599 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $68.61, for a total transaction of $41,097.39. Following the sale, the executive vice president directly owned 26,504 shares in the company, valued at $1,818,439.44. The trade was a 2.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 56,098 shares of company stock valued at $3,836,196 in the last ninety days. 17.80% of the stock is currently owned by insiders.

Incyte Stock Down 1.7%

NASDAQ:INCY traded down $1.49 during trading hours on Friday, reaching $85.04. The company's stock had a trading volume of 1,475,760 shares, compared to its average volume of 1,947,514. The company has a market capitalization of $16.61 billion, a P/E ratio of 19.33, a price-to-earnings-growth ratio of 0.67 and a beta of 0.71. Incyte Corporation has a 12 month low of $53.56 and a 12 month high of $87.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.78 and a current ratio of 2.85. The stock has a 50 day moving average price of $73.56 and a two-hundred day moving average price of $67.64.

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.