Lbp Am Sa Purchases 59,974 Shares of Incyte Corporation $INCY

Lbp Am Sa raised its position in Incyte Corporation (NASDAQ:INCY) by 33.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 238,705 shares of the biopharmaceutical company’s stock after purchasing an additional 59,974 shares during the period. Lbp Am Sa’s holdings in Incyte were worth $20,245,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. NewEdge Advisors LLC raised its holdings in Incyte by 369.3% during the first quarter. NewEdge Advisors LLC now owns 12,597 shares of the biopharmaceutical company’s stock worth $763,000 after acquiring an additional 9,913 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Incyte by 15.1% during the 1st quarter. Jones Financial Companies Lllp now owns 4,944 shares of the biopharmaceutical company’s stock worth $299,000 after purchasing an additional 648 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Incyte by 6.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 814,559 shares of the biopharmaceutical company’s stock worth $49,322,000 after purchasing an additional 48,751 shares during the last quarter. United Services Automobile Association bought a new stake in shares of Incyte during the 1st quarter worth approximately $219,000. Finally, Focus Partners Wealth boosted its holdings in shares of Incyte by 74.1% in the 1st quarter. Focus Partners Wealth now owns 21,024 shares of the biopharmaceutical company’s stock valued at $1,273,000 after buying an additional 8,951 shares during the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Mohamed Khairie Issa sold 10,856 shares of the business’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $109.07, for a total value of $1,184,063.92. Following the sale, the executive vice president owned 66,132 shares of the company’s stock, valued at $7,213,017.24. The trade was a 14.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Steven H. Stein sold 20,105 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $102.51, for a total value of $2,060,963.55. Following the completion of the sale, the executive vice president directly owned 63,129 shares of the company’s stock, valued at approximately $6,471,353.79. The trade was a 24.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 98,897 shares of company stock worth $9,869,376. Company insiders own 17.80% of the company’s stock.

Incyte Stock Down 2.9%

NASDAQ INCY opened at $101.99 on Monday. The business has a fifty day moving average price of $101.99 and a two-hundred day moving average price of $90.93. The stock has a market capitalization of $20.02 billion, a PE ratio of 17.08, a PEG ratio of 0.61 and a beta of 0.82. Incyte Corporation has a fifty-two week low of $53.56 and a fifty-two week high of $112.29. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.20 and a quick ratio of 3.13.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Morgan Stanley upped their price target on shares of Incyte from $92.00 to $94.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 6th. Royal Bank Of Canada upped their target price on shares of Incyte from $81.00 to $84.00 and gave the company a “sector perform” rating in a report on Wednesday, October 29th. Zacks Research downgraded shares of Incyte from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Guggenheim raised Incyte from a “neutral” rating to a “buy” rating and set a $125.00 price target on the stock in a research report on Monday, November 3rd. Finally, JPMorgan Chase & Co. upped their price objective on Incyte from $73.00 to $89.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Eight investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Incyte presently has a consensus rating of “Hold” and an average price target of $100.75.

Incyte 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.