Natixis Advisors LLC Buys 10,798 Shares of Incyte Corporation (NASDAQ:INCY)

Key Points

• Natixis Advisors LLC increased its holdings in Incyte Corporation by 43.4% during the first quarter, now owning 35,703 shares valued at approximately $2.16 million.
• Several research analysts have raised their price targets for Incyte, with Citigroup setting a target of $103.00 and Wells Fargo upgrading its rating to "overweight".
• Incyte’s stock performance has shown a 1-year low of $53.56 and a high of $83.95, currently trading around $78.39.

Natixis Advisors LLC lifted its position in shares of Incyte Corporation (NASDAQ:INCY - Free Report) by 43.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 35,703 shares of the biopharmaceutical company's stock after acquiring an additional 10,798 shares during the quarter. Natixis Advisors LLC's holdings in Incyte were worth $2,162,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its position in shares of Incyte by 0.7% during the first quarter. Principal Financial Group Inc. now owns 213,947 shares of the biopharmaceutical company's stock worth $12,954,000 after acquiring an additional 1,419 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of 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. JPMorgan Chase & Co. lifted its position in shares of Incyte by 13.5% during the fourth quarter. JPMorgan Chase & Co. now owns 323,640 shares of the biopharmaceutical company's stock worth $22,354,000 after acquiring an additional 38,550 shares in the last quarter. Amalgamated Bank raised its position in shares of Incyte by 1.9% in the first quarter. Amalgamated Bank now owns 31,551 shares of the biopharmaceutical company's stock worth $1,910,000 after buying an additional 591 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its position in shares of Incyte by 0.8% in the first quarter. Asset Management One Co. Ltd. now owns 90,031 shares of the biopharmaceutical company's stock worth $5,451,000 after buying an additional 747 shares in the last quarter. Institutional investors own 96.97% of the company's stock.

Incyte Trading Up 2.7%

NASDAQ:INCY traded up $2.17 during mid-day trading on Tuesday, reaching $81.36. 625,653 shares of the company's stock traded hands, compared to its average volume of 1,868,350. Incyte Corporation has a 12-month low of $53.56 and a 12-month high of $83.95. The firm has a market capitalization of $15.89 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 0.62 and a beta of 0.71. 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 50 day moving average price of $70.51 and a 200-day moving average price of $66.87.

Insider Transactions at Incyte

In related news, EVP Barry P. Flannelly sold 1,192 shares of Incyte stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $69.86, for a total transaction of $83,273.12. Following the sale, the executive vice president directly owned 37,630 shares in the company, valued at $2,628,831.80. The trade was a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Vijay K. Iyengar sold 1,177 shares of Incyte stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $69.86, for a total value of $82,225.22. Following the sale, the executive vice president owned 35,929 shares in the company, valued at $2,509,999.94. This represents a 3.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,098 shares of company stock valued at $3,836,196. Insiders own 17.80% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on INCY. Truist Financial increased their price objective on Incyte from $73.00 to $79.00 and gave the stock a "hold" rating in a research report on Wednesday, July 30th. Citigroup raised their price target on Incyte from $88.00 to $103.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. lowered their price target on Incyte from $68.00 to $67.00 and set a "neutral" rating on the stock in a report on Monday, July 14th. Barclays initiated coverage on Incyte in a report on Friday, August 1st. They issued an "overweight" rating and a $90.00 price target on the stock. Finally, Wall Street Zen raised Incyte from a "buy" rating to a "strong-buy" rating in a report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $81.20.

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.