Lbp Am Sa Has $12.17 Million Stock Position in Incyte Corporation $INCY

Key Points

• Lbp Am Sa has reduced its stake in Incyte Corporation by 7.7%, owning approximately 0.09% of the company worth $12.17 million as of the latest quarter.
• Analysts are generally optimistic about Incyte, with Citigroup raising its price target from $88.00 to $103.00 and six analysts giving the stock a Buy rating.
• Incyte's stock opened at $84.81 and has shown significant volatility, with a twelve-month high of $87.99 and a low of $53.56.

Lbp Am Sa reduced its position in shares of Incyte Corporation (NASDAQ:INCY - Free Report) by 7.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 178,731 shares of the biopharmaceutical company's stock after selling 14,842 shares during the period. Lbp Am Sa owned about 0.09% of Incyte worth $12,172,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in INCY. Czech National Bank raised its stake in shares of Incyte by 6.4% in the second quarter. Czech National Bank now owns 39,271 shares of the biopharmaceutical company's stock valued at $2,674,000 after acquiring an additional 2,378 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Incyte by 0.7% during the 1st quarter. Principal Financial Group Inc. now owns 213,947 shares of the biopharmaceutical company's stock valued at $12,954,000 after purchasing an additional 1,419 shares in the last quarter. Amalgamated Bank raised its position in Incyte by 1.9% in the 1st quarter. Amalgamated Bank now owns 31,551 shares of the biopharmaceutical company's stock valued at $1,910,000 after purchasing an additional 591 shares during the last quarter. OMNI 360 Wealth Inc. acquired a new position in Incyte in the second quarter worth $310,000. Finally, Asset Management One Co. Ltd. grew its holdings in shares of Incyte by 0.8% during the first quarter. Asset Management One Co. Ltd. now owns 90,031 shares of the biopharmaceutical company's stock worth $5,451,000 after purchasing an additional 747 shares during the last quarter. 96.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. BMO Capital Markets restated an "underperform" rating and issued a $60.00 price objective (up previously from $52.00) on shares of Incyte in a research report on Wednesday, July 30th. Wells Fargo & Company raised shares of Incyte from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $67.00 to $89.00 in a report on Wednesday, August 6th. UBS Group reaffirmed a "neutral" rating and set a $68.00 price objective (up previously from $62.00) on shares of Incyte in a report on Wednesday, July 30th. Citigroup increased their price objective on Incyte from $88.00 to $103.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. boosted their target price on Incyte from $67.00 to $73.00 and gave the stock a "neutral" rating in a research report on Friday, August 22nd. Six equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $83.64.

Insider Buying and Selling at Incyte

In related news, EVP Vijay K. Iyengar sold 8,617 shares of the stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $68.15, for a total value of $587,248.55. Following the sale, the executive vice president directly owned 37,701 shares in the company, valued at $2,569,323.15. This trade represents a 18.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Steven H. Stein sold 14,952 shares of Incyte stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $68.47, for a total transaction of $1,023,763.44. Following the transaction, the executive vice president directly owned 97,466 shares in the company, valued at $6,673,497.02. The trade was a 13.30% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,777 shares of company stock valued at $3,818,215. 17.80% of the stock is currently owned by company insiders.

Incyte Stock Performance

INCY stock opened at $84.81 on Wednesday. Incyte Corporation has a twelve month low of $53.56 and a twelve month high of $87.99. The company has a quick ratio of 2.78, a current ratio of 2.85 and a debt-to-equity ratio of 0.01. The company has a market cap of $16.56 billion, a P/E ratio of 19.28, a price-to-earnings-growth ratio of 0.65 and a beta of 0.75. The business's fifty day moving average is $82.30 and its 200-day moving average is $70.27.

Incyte Company 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.

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