Incyte Corporation (NASDAQ:INCY) Stock Position Raised by Natixis Advisors LLC

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

A number of other hedge funds have also recently added to or reduced their stakes in the company. Raiffeisen Bank International AG bought a new stake in Incyte in the fourth quarter worth approximately $34,000. NBC Securities Inc. lifted its stake in shares of Incyte by 88,200.0% in the 1st quarter. NBC Securities Inc. now owns 883 shares of the biopharmaceutical company's stock valued at $53,000 after purchasing an additional 882 shares during the last quarter. Intact Investment Management Inc. acquired a new stake in shares of Incyte in the 1st quarter valued at $73,000. Colonial Trust Co SC boosted its holdings in Incyte by 41.7% in the fourth quarter. Colonial Trust Co SC now owns 1,481 shares of the biopharmaceutical company's stock worth $102,000 after purchasing an additional 436 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in Incyte by 474.1% during the first quarter. Farther Finance Advisors LLC now owns 1,550 shares of the biopharmaceutical company's stock worth $94,000 after buying an additional 1,280 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company's stock.

Incyte Price Performance

Shares of Incyte stock opened at $78.20 on Friday. Incyte Corporation has a twelve month low of $53.56 and a twelve month high of $83.95. 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 firm has a market cap of $15.27 billion, a P/E ratio of 17.77, a price-to-earnings-growth ratio of 0.61 and a beta of 0.71. The firm's 50-day simple moving average is $69.73 and its 200-day simple moving average is $66.82.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. UBS Group reaffirmed a "neutral" rating and issued a $68.00 price target (up previously from $62.00) on shares of Incyte in a research report on Wednesday, July 30th. Citigroup boosted their target price on Incyte from $88.00 to $103.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Royal Bank Of Canada upped their target price on Incyte from $68.00 to $72.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 30th. Truist Financial lifted their price target on shares of Incyte from $73.00 to $79.00 and gave the company a "hold" rating in a research report on Wednesday, July 30th. Finally, Stifel Nicolaus raised shares of Incyte from a "hold" rating to a "buy" rating and upped their price objective for the stock from $75.00 to $107.00 in a report on Monday, June 16th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $81.20.

Insider Buying and Selling

In other news, EVP Vijay K. Iyengar sold 1,177 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $69.86, for a total transaction of $82,225.22. Following the sale, the executive vice president owned 35,929 shares in the company, valued at approximately $2,509,999.94. This represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sheila A. Denton sold 599 shares of the stock in a transaction dated 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 approximately $1,818,439.44. This represents a 2.21% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,098 shares of company stock valued at $3,836,196. 17.80% of the stock is currently owned by insiders.

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.

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