Candriam Luxembourg S.C.A. Purchases 38,014 Shares of Incyte Corporation (INCY)
Candriam Luxembourg S.C.A. increased its position in Incyte Corporation (NASDAQ:INCY) by 10.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 394,758 shares of the biopharmaceutical company’s stock after buying an additional 38,014 shares during the quarter. Incyte Corporation accounts for 0.8% of Candriam Luxembourg S.C.A.’s portfolio, making the stock its 18th largest position. Candriam Luxembourg S.C.A. owned about 0.19% of Incyte Corporation worth $46,084,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the stock. Wetherby Asset Management Inc. increased its stake in Incyte Corporation by 1.4% in the 2nd quarter. Wetherby Asset Management Inc. now owns 1,672 shares of the biopharmaceutical company’s stock worth $211,000 after purchasing an additional 23 shares during the period. Nordea Investment Management AB increased its stake in Incyte Corporation by 0.8% in the 2nd quarter. Nordea Investment Management AB now owns 8,179 shares of the biopharmaceutical company’s stock worth $1,030,000 after purchasing an additional 67 shares during the period. Grandfield & Dodd LLC increased its stake in Incyte Corporation by 1.2% in the 2nd quarter. Grandfield & Dodd LLC now owns 7,383 shares of the biopharmaceutical company’s stock worth $930,000 after purchasing an additional 85 shares during the period. IFP Advisors Inc increased its stake in Incyte Corporation by 9.9% in the 2nd quarter. IFP Advisors Inc now owns 1,146 shares of the biopharmaceutical company’s stock worth $144,000 after purchasing an additional 103 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in Incyte Corporation by 13.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 891 shares of the biopharmaceutical company’s stock worth $112,000 after purchasing an additional 108 shares during the period. Institutional investors own 88.57% of the company’s stock.
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In other news, President Herve Hoppenot sold 70,502 shares of the company’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $119.45, for a total transaction of $8,421,463.90. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider David W. Gryska sold 3,915 shares of the company’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $105.63, for a total value of $413,541.45. The disclosure for this sale can be found here. Insiders sold 102,062 shares of company stock worth $12,652,893 over the last three months. Corporate insiders own 17.70% of the company’s stock.
A number of brokerages have commented on INCY. BidaskClub cut Incyte Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Oppenheimer Holdings, Inc. set a $135.00 target price on Incyte Corporation and gave the company a “hold” rating in a research note on Tuesday, October 31st. J P Morgan Chase & Co set a $149.00 target price on Incyte Corporation and gave the company a “buy” rating in a research note on Tuesday, August 1st. Barclays PLC reissued an “overweight” rating and set a $165.00 target price (down from $180.00) on shares of Incyte Corporation in a research note on Wednesday, August 2nd. Finally, Jefferies Group LLC reissued a “buy” rating and set a $148.00 target price on shares of Incyte Corporation in a research note on Thursday, July 27th. Seven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $144.98.
Incyte Corporation (NASDAQ INCY) traded down $1.70 during trading on Friday, reaching $101.29. The company’s stock had a trading volume of 595,541 shares, compared to its average volume of 1,931,088. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.81 and a current ratio of 4.82. Incyte Corporation has a twelve month low of $98.49 and a twelve month high of $153.15.
Incyte Corporation (NASDAQ:INCY) last released its earnings results on Tuesday, October 31st. The biopharmaceutical company reported $0.17 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.11. Incyte Corporation had a negative return on equity of 12.91% and a negative net margin of 10.90%. The business had revenue of $381.50 million for the quarter, compared to the consensus estimate of $360.34 million. During the same period in the previous year, the company posted $0.19 earnings per share. The company’s revenue for the quarter was up 41.6% compared to the same quarter last year. research analysts predict that Incyte Corporation will post -1.3 EPS for the current year.
About Incyte Corporation
Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).
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