Incyte Corporation $INCY Shares Acquired by Groupama Asset Managment

Groupama Asset Managment raised its position in Incyte Corporation (NASDAQ:INCY) by 5.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 72,088 shares of the biopharmaceutical company’s stock after purchasing an additional 4,043 shares during the period. Groupama Asset Managment’s holdings in Incyte were worth $4,929,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Cetera Investment Advisers increased its position in Incyte by 10.2% during the 1st quarter. Cetera Investment Advisers now owns 14,644 shares of the biopharmaceutical company’s stock worth $887,000 after purchasing an additional 1,356 shares in the last quarter. TD Asset Management Inc increased its stake in Incyte by 3.9% during the first quarter. TD Asset Management Inc now owns 143,468 shares of the biopharmaceutical company’s stock worth $8,687,000 after acquiring an additional 5,343 shares during the last quarter. Foundations Investment Advisors LLC grew its holdings in shares of Incyte by 171.6% during the 1st quarter. Foundations Investment Advisors LLC now owns 8,777 shares of the biopharmaceutical company’s stock worth $531,000 after purchasing an additional 5,546 shares during the period. GSA Capital Partners LLP grew its stake in Incyte by 87.4% during the first quarter. GSA Capital Partners LLP now owns 11,223 shares of the biopharmaceutical company’s stock worth $680,000 after buying an additional 5,233 shares during the period. Finally, Natixis Advisors LLC increased its holdings in Incyte by 43.4% in the 1st quarter. Natixis Advisors LLC now owns 35,703 shares of the biopharmaceutical company’s stock valued at $2,162,000 after purchasing an additional 10,798 shares in the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Stock Performance

NASDAQ:INCY opened at $104.49 on Friday. The company has a current ratio of 3.20, a quick ratio of 2.78 and a debt-to-equity ratio of 0.01. The firm has a market cap of $20.51 billion, a price-to-earnings ratio of 17.50, a price-to-earnings-growth ratio of 0.70 and a beta of 0.74. Incyte Corporation has a twelve month low of $53.56 and a twelve month high of $109.28. The company has a 50-day moving average of $94.11 and a 200-day moving average of $81.01.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, October 28th. The biopharmaceutical company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.61. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Incyte had a return on equity of 26.56% and a net margin of 24.69%.The firm’s revenue was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.07 earnings per share. Analysts forecast that Incyte Corporation will post 4.86 earnings per share for the current fiscal year.

Insider Activity at Incyte

In other news, EVP Sheila A. Denton sold 598 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $101.36, for a total transaction of $60,613.28. Following the sale, the executive vice president owned 26,569 shares in the company, valued at $2,693,033.84. The trade was a 2.20% 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 the SEC website. Also, EVP Lee Heeson sold 3,074 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $94.02, for a total value of $289,017.48. Following the completion of the sale, the executive vice president owned 29,241 shares of the company’s stock, valued at $2,749,238.82. The trade was a 9.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 4,227 shares of company stock worth $396,327. 17.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on INCY shares. Bank of America increased their price objective on shares of Incyte from $90.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, September 4th. Wall Street Zen raised Incyte from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Royal Bank Of Canada increased their target price on shares of Incyte from $81.00 to $84.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 29th. Stifel Nicolaus raised their price target on Incyte from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Finally, Oppenheimer downgraded shares of Incyte from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Incyte currently has a consensus rating of “Hold” and a consensus target price of $93.85.

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.