Incyte Corporation $INCY Shares Sold by Candriam S.C.A.

Candriam S.C.A. lowered its holdings in Incyte Corporation (NASDAQ:INCY) by 25.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 342,042 shares of the biopharmaceutical company’s stock after selling 118,028 shares during the period. Candriam S.C.A.’s holdings in Incyte were worth $32,193,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Jacobi Capital Management LLC increased its holdings in shares of Incyte by 0.9% in the fourth quarter. Jacobi Capital Management LLC now owns 10,613 shares of the biopharmaceutical company’s stock valued at $1,048,000 after buying an additional 99 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Incyte by 0.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 18,870 shares of the biopharmaceutical company’s stock worth $1,864,000 after purchasing an additional 100 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of Incyte by 7.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,628 shares of the biopharmaceutical company’s stock valued at $161,000 after purchasing an additional 113 shares during the last quarter. Bank of Nova Scotia boosted its position in shares of Incyte by 0.7% in the 2nd quarter. Bank of Nova Scotia now owns 17,041 shares of the biopharmaceutical company’s stock valued at $1,160,000 after purchasing an additional 124 shares during the period. Finally, Perbak Capital Partners LLP boosted its position in shares of Incyte by 2.5% in the 3rd quarter. Perbak Capital Partners LLP now owns 5,298 shares of the biopharmaceutical company’s stock valued at $449,000 after purchasing an additional 129 shares during the period. 96.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Barclays reiterated an “overweight” rating on shares of Incyte in a report on Tuesday, March 24th. Stifel Nicolaus set a $123.00 target price on Incyte in a research note on Tuesday, June 9th. Citigroup reiterated a “market perform” rating on shares of Incyte in a report on Tuesday, June 2nd. Oppenheimer restated a “market perform” rating and set a $107.00 price target on shares of Incyte in a report on Monday, June 8th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $140.00 price objective on shares of Incyte in a research report on Wednesday, June 24th. Eight research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $108.20.

Incyte Price Performance

Shares of Incyte stock traded down $1.81 during trading on Friday, hitting $116.71. 1,643,724 shares of the company’s stock traded hands, compared to its average volume of 1,849,309. The company has a market cap of $23.32 billion, a PE ratio of 16.48, a PEG ratio of 1.07 and a beta of 0.76. The firm’s fifty day moving average price is $103.20 and its 200 day moving average price is $100.50. Incyte Corporation has a twelve month low of $67.17 and a twelve month high of $118.97. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.68 and a quick ratio of 3.60.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.43. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.22 billion. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The company’s revenue was up 20.9% on a year-over-year basis. During the same quarter last year, the business posted $1.16 earnings per share. Analysts forecast that Incyte Corporation will post 6.61 earnings per share for the current year.

Insider Activity

In other Incyte news, insider Pablo J. Cagnoni sold 18,667 shares of the firm’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $96.50, for a total value of $1,801,365.50. Following the completion of the sale, the insider owned 262,692 shares in the company, valued at approximately $25,349,778. This trade represents a 6.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.20% of the stock is owned by corporate insiders.

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.