Oddo BHF Asset Management Sas Raises Stock Holdings in Incyte Corporation $INCY

Key Points

• Oddo BHF Asset Management Sas boosted its Incyte stake by 160.6% in the fourth quarter, ending with 36,919 shares worth about $3.65 million.
• Incyte reported strong quarterly results, with EPS of $1.81 topping estimates by $0.43 and revenue of $1.27 billion, up 20.9% from a year earlier.
• Despite the earnings beat, the stock was down 2.2% and analysts remain cautious overall, with a Hold consensus and an average price target of $105.10.

Oddo BHF Asset Management Sas grew its stake in Incyte Corporation (NASDAQ:INCY - Free Report) by 160.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,919 shares of the biopharmaceutical company's stock after acquiring an additional 22,752 shares during the quarter. Oddo BHF Asset Management Sas' holdings in Incyte were worth $3,646,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jacobi Capital Management LLC grew its stake in Incyte by 0.9% in the 4th quarter. Jacobi Capital Management LLC now owns 10,613 shares of the biopharmaceutical company's stock worth $1,048,000 after acquiring an additional 99 shares during the period. Oregon Public Employees Retirement Fund grew its stake in Incyte by 0.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 18,870 shares of the biopharmaceutical company's stock worth $1,864,000 after acquiring an additional 100 shares during the period. Smartleaf Asset Management LLC grew its stake in Incyte by 7.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,628 shares of the biopharmaceutical company's stock worth $161,000 after acquiring an additional 113 shares during the period. Bank of Nova Scotia grew its stake in Incyte by 0.7% in the 2nd quarter. Bank of Nova Scotia now owns 17,041 shares of the biopharmaceutical company's stock worth $1,160,000 after acquiring an additional 124 shares during the period. Finally, Perbak Capital Partners LLP grew its stake in Incyte by 2.5% in the 3rd quarter. Perbak Capital Partners LLP now owns 5,298 shares of the biopharmaceutical company's stock worth $449,000 after acquiring an additional 129 shares during the period. 96.97% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Incyte

In other Incyte news, insider Pablo J. Cagnoni sold 18,667 shares of the business's stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $96.50, for a total transaction of $1,801,365.50. Following the completion of the sale, the insider owned 262,692 shares of the company's stock, valued at approximately $25,349,778. The trade was a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 16.20% of the company's stock.

Incyte Trading Down 2.2%

Shares of INCY stock opened at $99.75 on Wednesday. The firm's 50-day simple moving average is $97.97 and its 200-day simple moving average is $99.06. Incyte Corporation has a 1-year low of $66.74 and a 1-year high of $112.29. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.68 and a quick ratio of 3.60. The firm has a market cap of $19.93 billion, a P/E ratio of 14.09, a PEG ratio of 0.99 and a beta of 0.79.

Incyte (NASDAQ:INCY - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.38 by $0.43. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The firm had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the business earned $1.16 earnings per share. The firm's quarterly revenue was up 20.9% compared to the same quarter last year. As a group, equities analysts forecast that Incyte Corporation will post 6.64 EPS for the current year.

Analysts Set New Price Targets

INCY has been the subject of several recent analyst reports. TD Cowen reaffirmed a "hold" rating on shares of Incyte in a research note on Tuesday, June 9th. Barclays reaffirmed an "overweight" rating on shares of Incyte in a research note on Tuesday, March 24th. UBS Group cut their price objective on shares of Incyte from $104.00 to $94.00 and set a "neutral" rating on the stock in a report on Wednesday, March 25th. Citigroup reiterated a "market perform" rating on shares of Incyte in a report on Tuesday, June 2nd. Finally, Stifel Nicolaus set a $123.00 price objective on shares of Incyte in a report on Tuesday, June 9th. Eight analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Incyte currently has a consensus rating of "Hold" and an average target price of $105.10.

Incyte Company Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company's research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company's flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.

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