Lbp Am Sa Has $20.25 Million Stock Position in Incyte Corporation $INCY

Lbp Am Sa raised its stake in Incyte Corporation (NASDAQ:INCY) by 33.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 238,705 shares of the biopharmaceutical company’s stock after acquiring an additional 59,974 shares during the quarter. Lbp Am Sa owned about 0.12% of Incyte worth $20,245,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership increased its holdings in shares of Incyte by 701.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,730,648 shares of the biopharmaceutical company’s stock valued at $185,957,000 after purchasing an additional 2,390,084 shares in the last quarter. AQR Capital Management LLC boosted its position in Incyte by 21.8% in the 2nd quarter. AQR Capital Management LLC now owns 8,201,455 shares of the biopharmaceutical company’s stock valued at $558,519,000 after buying an additional 1,465,286 shares during the last quarter. Norges Bank acquired a new stake in shares of Incyte in the 2nd quarter valued at $96,776,000. Pacer Advisors Inc. raised its position in shares of Incyte by 8,091.6% during the third quarter. Pacer Advisors Inc. now owns 1,248,642 shares of the biopharmaceutical company’s stock worth $105,897,000 after acquiring an additional 1,233,399 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Incyte during the second quarter valued at $82,485,000. 96.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Mohamed Khairie Issa sold 10,856 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $109.07, for a total transaction of $1,184,063.92. Following the sale, the executive vice president owned 66,132 shares of the company’s stock, valued at $7,213,017.24. This trade represents a 14.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael James Morrissey sold 4,323 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $97.26, for a total value of $420,454.98. Following the completion of the transaction, the executive vice president owned 27,507 shares of the company’s stock, valued at $2,675,330.82. This represents a 13.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 98,897 shares of company stock valued at $9,869,376. 17.80% of the stock is owned by company insiders.

Incyte Stock Down 2.9%

Shares of NASDAQ:INCY opened at $101.99 on Monday. The company has a 50 day moving average price of $101.99 and a two-hundred day moving average price of $90.93. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.13 and a current ratio of 3.20. The company has a market capitalization of $20.02 billion, a PE ratio of 17.08, a PEG ratio of 0.61 and a beta of 0.82. Incyte Corporation has a 52 week low of $53.56 and a 52 week high of $112.29.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, October 28th. The biopharmaceutical company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.61. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Incyte had a net margin of 24.69% and a return on equity of 26.56%. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period last year, the firm posted $1.07 earnings per share. Analysts forecast that Incyte Corporation will post 4.86 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on INCY. Mizuho set a $121.00 price objective on Incyte and gave the stock an “outperform” rating in a research report on Monday, December 8th. Morgan Stanley lifted their price target on shares of Incyte from $92.00 to $94.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 6th. Piper Sandler boosted their price target on shares of Incyte from $82.00 to $102.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Guggenheim raised shares of Incyte from a “neutral” rating to a “buy” rating and set a $125.00 price objective on the stock in a research note on Monday, November 3rd. Finally, TD Cowen reaffirmed a “buy” rating on shares of Incyte in a report on Tuesday, January 13th. Eight research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $100.75.

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.