Candriam S.C.A. Has $70.22 Million Stake in Incyte Corporation $INCY

Candriam S.C.A. increased its position in Incyte Corporation (NASDAQ:INCY) by 18.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,031,121 shares of the biopharmaceutical company’s stock after purchasing an additional 162,576 shares during the quarter. Candriam S.C.A. owned approximately 0.53% of Incyte worth $70,222,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of INCY. FNY Investment Advisers LLC bought a new position in shares of Incyte during the 2nd quarter worth about $27,000. Banque Transatlantique SA bought a new position in Incyte during the first quarter worth about $26,000. Hilltop National Bank bought a new position in Incyte during the second quarter worth about $37,000. SVB Wealth LLC acquired a new stake in Incyte during the first quarter valued at approximately $39,000. Finally, Geneos Wealth Management Inc. grew its stake in shares of Incyte by 350.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 756 shares of the biopharmaceutical company’s stock valued at $46,000 after purchasing an additional 588 shares during the period. Institutional investors own 96.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on INCY. JPMorgan Chase & Co. raised their target price on Incyte from $73.00 to $89.00 and gave the stock a “neutral” rating in a research report on Thursday, October 9th. UBS Group reissued a “neutral” rating and set a $68.00 price objective (up from $62.00) on shares of Incyte in a report on Wednesday, July 30th. Oppenheimer lowered shares of Incyte from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 8th. Zacks Research cut shares of Incyte from a “strong-buy” rating to a “hold” rating in a research report on Monday. Finally, Barclays boosted their price target on shares of Incyte from $90.00 to $101.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Seven investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $92.77.

Insider Transactions at Incyte

In related news, EVP Sheila A. Denton sold 598 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $101.36, for a total value of $60,613.28. Following the completion of the transaction, the executive vice president owned 26,569 shares in the company, valued at $2,693,033.84. The trade was a 2.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Lee Heeson sold 3,074 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $94.02, for a total value of $289,017.48. Following the transaction, the executive vice president directly owned 29,241 shares in the company, valued at approximately $2,749,238.82. This represents a 9.51% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 4,227 shares of company stock valued at $396,327. Insiders own 17.80% of the company’s stock.

Incyte Stock Performance

Incyte stock opened at $108.26 on Thursday. The stock has a 50-day simple moving average of $89.59 and a 200 day simple moving average of $77.50. The stock has a market capitalization of $21.25 billion, a price-to-earnings ratio of 18.13, a P/E/G ratio of 0.70 and a beta of 0.74. The company has a quick ratio of 2.78, a current ratio of 3.20 and a debt-to-equity ratio of 0.01. Incyte Corporation has a 12-month low of $53.56 and a 12-month high of $109.28.

Incyte Company Profile

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.