Groupama Asset Managment Sells 7,608 Shares of Incyte Corporation $INCY

Groupama Asset Managment lowered its stake in shares of Incyte Corporation (NASDAQ:INCY) by 10.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,451 shares of the biopharmaceutical company’s stock after selling 7,608 shares during the quarter. Groupama Asset Managment’s holdings in Incyte were worth $6,254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Toth Financial Advisory Corp purchased a new position in shares of Incyte in the 4th quarter valued at approximately $1,213,000. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of Incyte by 11.5% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 210,097 shares of the biopharmaceutical company’s stock valued at $20,719,000 after purchasing an additional 21,735 shares in the last quarter. Twin Capital Management Inc. purchased a new stake in Incyte in the first quarter worth $875,000. Northwestern Mutual Wealth Management Co. grew its stake in 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 purchasing an additional 585,618 shares during the period. Finally, GC Wealth Management RIA LLC bought a new position in Incyte in the fourth quarter worth $1,629,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Trading Down 2.8%

Incyte stock opened at $119.52 on Friday. Incyte Corporation has a 12 month low of $73.81 and a 12 month high of $132.60. The company has a market capitalization of $24.23 billion, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 1.60 and a beta of 0.76. The business’s fifty day simple moving average is $109.54 and its two-hundred day simple moving average is $102.24.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, July 28th. The biopharmaceutical company reported $3.09 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.94. The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.50 billion. Incyte had a return on equity of 29.93% and a net margin of 27.71%.The company’s revenue was up 37.7% on a year-over-year basis. During the same period last year, the company earned $1.57 earnings per share. On average, equities research analysts predict that Incyte Corporation will post 6.38 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Sanford C. Bernstein initiated coverage on shares of Incyte in a report on Thursday, May 21st. They set a “market perform” rating and a $99.00 target price on the stock. Oppenheimer reiterated a “market perform” rating and issued a $120.00 price target on shares of Incyte in a research note on Tuesday. Citigroup reissued a “market perform” rating on shares of Incyte in a research report on Wednesday, July 15th. HC Wainwright boosted their price objective on shares of Incyte from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Guggenheim upped their price objective on shares of Incyte from $136.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday. Eight analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $117.74.

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.