Banque Transatlantique SA Takes $689,000 Position in Incyte Corporation $INCY

Banque Transatlantique SA purchased a new stake in shares of Incyte Corporation (NASDAQ:INCY) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,968 shares of the biopharmaceutical company’s stock, valued at approximately $689,000.

Other large investors have also recently added to or reduced their stakes in the company. AustralianSuper Pty Ltd bought a new stake in shares of Incyte during the 3rd quarter worth $18,085,000. Nordea Investment Management AB raised its position in shares of Incyte by 941.8% during the fourth quarter. Nordea Investment Management AB now owns 322,223 shares of the biopharmaceutical company’s stock worth $31,874,000 after purchasing an additional 291,293 shares during the period. Toth Financial Advisory Corp purchased a new stake in shares of Incyte during the fourth quarter valued at $1,213,000. Fairvoy Private Wealth LLC lifted its holdings in shares of Incyte by 468.8% during the fourth quarter. Fairvoy Private Wealth LLC now owns 30,169 shares of the biopharmaceutical company’s stock valued at $2,980,000 after purchasing an additional 24,865 shares during the last quarter. Finally, Citigroup Inc. boosted its position in shares of Incyte by 187.1% in the 3rd quarter. Citigroup Inc. now owns 560,028 shares of the biopharmaceutical company’s stock valued at $47,496,000 after purchasing an additional 364,946 shares during the period. 96.97% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Incyte news, insider Pablo J. Cagnoni sold 18,667 shares of the company’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 value of $1,801,365.50. Following the transaction, the insider owned 262,692 shares in the company, valued at approximately $25,349,778. This represents a 6.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 16.20% of the company’s stock.

Incyte Trading Down 0.8%

Shares of NASDAQ INCY opened at $98.22 on Friday. The company has a current ratio of 3.68, a quick ratio of 3.60 and a debt-to-equity ratio of 0.01. Incyte Corporation has a one year low of $66.74 and a one year high of $112.29. The business has a 50-day moving average price of $98.15 and a two-hundred day moving average price of $98.97. The firm has a market capitalization of $19.62 billion, a PE ratio of 13.87, a PEG ratio of 0.96 and a beta of 0.79.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.38 by $0.43. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.22 billion. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The firm’s quarterly revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.16 EPS. As a group, analysts predict that Incyte Corporation will post 6.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on INCY. Sanford C. Bernstein started coverage on Incyte in a research note on Thursday, May 21st. They issued a “market perform” rating and a $99.00 price target on the stock. TD Cowen reaffirmed a “hold” rating on shares of Incyte in a research note on Tuesday, June 9th. Stifel Nicolaus set a $123.00 target price on shares of Incyte in a report on Tuesday, June 9th. Jefferies Financial Group downgraded shares of Incyte from a “buy” rating to a “hold” rating and dropped their target price for the stock from $120.00 to $94.00 in a research report on Monday, March 16th. Finally, Barclays restated an “overweight” rating on shares of Incyte in a report on Tuesday, March 24th. Eight equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $105.10.

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.