Fideuram Asset Management Ireland dac Makes New $3.07 Million Investment in Incyte Corporation $INCY

Fideuram Asset Management Ireland dac bought a new position in Incyte Corporation (NASDAQ:INCY) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 28,491 shares of the biopharmaceutical company’s stock, valued at approximately $3,070,000.

A number of other institutional investors also recently modified their holdings of INCY. Caisse de depot et placement du Quebec raised its stake in shares of Incyte by 264.5% in the third quarter. Caisse de depot et placement du Quebec now owns 1,498,013 shares of the biopharmaceutical company’s stock worth $127,046,000 after acquiring an additional 1,087,091 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Incyte by 5,218.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 596,840 shares of the biopharmaceutical company’s stock worth $58,950,000 after acquiring an additional 585,618 shares during the last quarter. Man Group plc raised its stake in shares of Incyte by 52.8% in the second quarter. Man Group plc now owns 1,610,670 shares of the biopharmaceutical company’s stock worth $109,687,000 after acquiring an additional 556,243 shares during the last quarter. Squarepoint Ops LLC raised its stake in shares of Incyte by 9,739.1% in the second quarter. Squarepoint Ops LLC now owns 558,171 shares of the biopharmaceutical company’s stock worth $38,011,000 after acquiring an additional 552,498 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in shares of Incyte by 1,346.2% in the third quarter. Skandinaviska Enskilda Banken AB publ now owns 571,234 shares of the biopharmaceutical company’s stock worth $48,446,000 after acquiring an additional 531,734 shares during the last quarter. 96.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on INCY shares. Piper Sandler boosted their target price on shares of Incyte from $102.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. Wall Street Zen cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 14th. UBS Group lowered their price target on shares of Incyte from $104.00 to $94.00 and set a “neutral” rating for the company in a research report on Wednesday, March 25th. Stifel Nicolaus lifted their price target on shares of Incyte from $120.00 to $123.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings upgraded shares of Incyte from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, April 1st. Ten research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Incyte has a consensus rating of “Hold” and a consensus price target of $104.00.

Incyte Trading Up 0.2%

NASDAQ:INCY opened at $97.50 on Friday. Incyte Corporation has a 1-year low of $63.92 and a 1-year high of $112.29. The business’s 50-day moving average price is $95.75 and its two-hundred day moving average price is $99.41. The company has a current ratio of 3.68, a quick ratio of 3.60 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $19.48 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 0.93 and a beta of 0.79.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.43. The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.22 billion. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The company’s quarterly revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.16 earnings per share. On average, equities analysts expect that Incyte Corporation will post 6.74 earnings per share for the current year.

Insider Transactions at Incyte

In related news, insider Pablo J. Cagnoni sold 18,667 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $96.50, for a total transaction of $1,801,365.50. Following the completion of the transaction, the insider owned 262,692 shares in the company, valued at approximately $25,349,778. The trade was a 6.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 16.20% of the company’s stock.

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.