Incyte Corporation $INCY Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets grew its holdings in Incyte Corporation (NASDAQ:INCY) by 5.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 341,382 shares of the biopharmaceutical company’s stock after acquiring an additional 16,990 shares during the period. BNP Paribas Financial Markets’ holdings in Incyte were worth $33,718,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Oregon Public Employees Retirement Fund boosted its holdings in Incyte by 0.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 18,870 shares of the biopharmaceutical company’s stock valued at $1,864,000 after purchasing an additional 100 shares during the period. Bank of Nova Scotia boosted its holdings in Incyte by 0.7% in the second quarter. Bank of Nova Scotia now owns 17,041 shares of the biopharmaceutical company’s stock valued at $1,160,000 after purchasing an additional 124 shares during the period. Perbak Capital Partners LLP boosted its holdings in Incyte by 2.5% in the third quarter. Perbak Capital Partners LLP now owns 5,298 shares of the biopharmaceutical company’s stock valued at $449,000 after purchasing an additional 129 shares during the period. Savvy Advisors Inc. boosted its holdings in Incyte by 2.6% in the fourth quarter. Savvy Advisors Inc. now owns 5,339 shares of the biopharmaceutical company’s stock valued at $527,000 after purchasing an additional 133 shares during the period. Finally, Haven Capital Group Inc. boosted its holdings in Incyte by 0.8% in the fourth quarter. Haven Capital Group Inc. now owns 17,985 shares of the biopharmaceutical company’s stock valued at $1,776,000 after purchasing an additional 144 shares during the period. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Insider Activity

In other news, insider Pablo J. Cagnoni sold 18,667 shares of the company’s stock in a transaction 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 completion of 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 sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 16.20% of the company’s stock.

Incyte Trading Up 6.2%

Shares of Incyte stock opened at $97.98 on Thursday. The company has a fifty day simple moving average of $96.07 and a 200-day simple moving average of $99.09. Incyte Corporation has a 12-month low of $66.30 and a 12-month high of $112.29. 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 stock has a market cap of $19.57 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 0.88 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 (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.43. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the prior year, the business posted $1.16 EPS. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. On average, equities analysts forecast that Incyte Corporation will post 6.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

INCY has been the subject of a number of recent research reports. UBS Group decreased their target price on Incyte from $104.00 to $94.00 and set a “neutral” rating for the company in a report on Wednesday, March 25th. Weiss Ratings upgraded shares of Incyte from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, April 1st. Wells Fargo & Company lowered their price target on shares of Incyte from $107.00 to $101.00 and set an “equal weight” rating for the company in a report on Wednesday, February 11th. Oppenheimer boosted their price target on shares of Incyte from $84.00 to $90.00 and gave the stock a “market perform” rating in a report on Wednesday, April 29th. Finally, Citigroup reiterated a “market perform” rating on shares of Incyte in a report on Tuesday. Nine investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Incyte has an average rating of “Hold” and an average target price of $104.00.

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.