Incyte Corporation (NASDAQ:INCY) Holdings Lowered by Lbp Am Sa

LBP AM SA trimmed its holdings in Incyte Corporation (NASDAQ:INCY - Free Report) by 3.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 193,573 shares of the biopharmaceutical company's stock after selling 7,738 shares during the quarter. LBP AM SA owned about 0.10% of Incyte worth $11,721,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Raiffeisen Bank International AG purchased a new stake in shares of Incyte during the 4th quarter worth $34,000. NBC Securities Inc. lifted its position in Incyte by 88,200.0% in the first quarter. NBC Securities Inc. now owns 883 shares of the biopharmaceutical company's stock valued at $53,000 after acquiring an additional 882 shares during the last quarter. Huntington National Bank lifted its position in Incyte by 40.7% in the fourth quarter. Huntington National Bank now owns 934 shares of the biopharmaceutical company's stock valued at $65,000 after acquiring an additional 270 shares during the last quarter. Intact Investment Management Inc. purchased a new stake in Incyte in the first quarter valued at $73,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Incyte by 161.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,275 shares of the biopharmaceutical company's stock valued at $88,000 after buying an additional 787 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company's stock.

Insider Buying and Selling at Incyte

In other news, EVP Barry P. Flannelly sold 10,903 shares of the stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $68.15, for a total value of $743,039.45. Following the completion of the sale, the executive vice president directly owned 39,744 shares of the company's stock, valued at approximately $2,708,553.60. This represents a 21.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Vijay K. Iyengar sold 8,617 shares of the stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $68.15, for a total value of $587,248.55. Following the completion of the transaction, the executive vice president owned 37,701 shares of the company's stock, valued at $2,569,323.15. The trade was a 18.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,119 shares of company stock worth $1,371,385 over the last three months. Insiders own 17.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Royal Bank Of Canada set a $67.00 price target on shares of Incyte and gave the company a "sector perform" rating in a research report on Monday, June 23rd. Citigroup restated a "buy" rating on shares of Incyte in a research report on Tuesday, June 3rd. Guggenheim lowered shares of Incyte from a "buy" rating to a "neutral" rating and set a $92.00 target price on the stock. in a research report on Tuesday, March 18th. Stifel Nicolaus upgraded shares of Incyte from a "hold" rating to a "buy" rating and raised their target price for the stock from $75.00 to $107.00 in a research report on Monday, June 16th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Incyte from $70.00 to $68.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Incyte presently has a consensus rating of "Hold" and an average target price of $74.53.

Incyte Stock Performance

Shares of Incyte stock traded down $1.75 on Friday, reaching $68.59. 1,094,786 shares of the stock were exchanged, compared to its average volume of 1,952,134. The company has a quick ratio of 2.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.01. Incyte Corporation has a twelve month low of $53.56 and a twelve month high of $83.95. The firm has a market capitalization of $13.28 billion, a price-to-earnings ratio of 214.35, a PEG ratio of 0.58 and a beta of 0.68. The business has a 50 day moving average price of $66.23 and a two-hundred day moving average price of $66.62.

Incyte (NASDAQ:INCY - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.01 by $0.15. The firm had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $996.17 million. Incyte had a return on equity of 2.77% and a net margin of 0.48%. The firm's revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.64 earnings per share. Analysts anticipate that Incyte Corporation will post 4.86 earnings per share for the current fiscal year.

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.