Groupama Asset Managment Buys 962 Shares of Incyte Co. (NASDAQ:INCY)

Groupama Asset Managment raised its stake in shares of Incyte Co. (NASDAQ:INCY) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 60,559 shares of the biopharmaceutical company’s stock after acquiring an additional 962 shares during the quarter. Groupama Asset Managment’s holdings in Incyte were worth $4,143,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 Asset Management L.P. acquired a new stake in shares of Incyte during the 3rd quarter worth about $156,611,000. Norges Bank acquired a new stake in shares of Incyte in the fourth quarter valued at $121,890,000. Sound Shore Management Inc. CT lifted its position in Incyte by 98.4% during the 4th quarter. Sound Shore Management Inc. CT now owns 1,201,089 shares of the biopharmaceutical company’s stock worth $82,959,000 after buying an additional 595,741 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in Incyte by 73.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,313,873 shares of the biopharmaceutical company’s stock worth $90,749,000 after acquiring an additional 556,218 shares during the last quarter. Finally, Long Corridor Asset Management Ltd acquired a new stake in Incyte in the 4th quarter valued at about $22,793,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on INCY. Royal Bank of Canada reduced their target price on shares of Incyte from $70.00 to $68.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 11th. Stifel Nicolaus increased their price objective on Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a research report on Monday, February 10th. Citigroup lowered their target price on Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Wells Fargo & Company upped their price target on Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. Finally, Truist Financial lowered their price objective on Incyte from $74.00 to $72.00 and set a “hold” rating for the company in a research report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $74.88.

Incyte Trading Up 0.6 %

Shares of NASDAQ INCY opened at $60.91 on Wednesday. Incyte Co. has a twelve month low of $50.35 and a twelve month high of $83.95. The stock has a market cap of $11.79 billion, a price-to-earnings ratio of 225.60, a P/E/G ratio of 0.41 and a beta of 0.76. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The company’s fifty day moving average is $69.06 and its 200-day moving average is $70.10.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. Equities research analysts predict that Incyte Co. will post 4.86 EPS for the current year.

Insider Transactions at Incyte

In related news, EVP Steven H. Stein sold 12,352 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total transaction of $897,866.88. Following the completion of the sale, the executive vice president now directly owns 66,967 shares of the company’s stock, valued at approximately $4,867,831.23. This represents a 15.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Barry P. Flannelly sold 19,807 shares of Incyte stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the completion of the transaction, the executive vice president now directly owns 33,567 shares in the company, valued at approximately $2,272,150.23. The trade was a 37.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,827 shares of company stock valued at $3,322,618 over the last 90 days. 17.60% of the stock is owned by company insiders.

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.