Amundi Acquires 150,431 Shares of Incyte Co. (NASDAQ:INCY)

Amundi increased its position in shares of Incyte Co. (NASDAQ:INCY) by 28.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 670,350 shares of the biopharmaceutical company’s stock after buying an additional 150,431 shares during the period. Amundi’s holdings in Incyte were worth $49,023,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of INCY. Quintet Private Bank Europe S.A. bought a new position in shares of Incyte during the fourth quarter worth about $26,000. Global X Japan Co. Ltd. grew its holdings in shares of Incyte by 144.7% during the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 230 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Incyte during the third quarter worth about $30,000. R Squared Ltd bought a new position in shares of Incyte during the fourth quarter worth about $30,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Incyte during the third quarter worth about $33,000. 96.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Incyte news, EVP Sheila A. Denton sold 14,069 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $74.07, for a total transaction of $1,042,090.83. Following the transaction, the executive vice president now owns 25,848 shares in the company, valued at $1,914,561.36. This trade represents a 35.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas Tray sold 650 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $69.31, for a total value of $45,051.50. Following the transaction, the insider now owns 23,312 shares in the company, valued at approximately $1,615,754.72. This trade represents a 2.71 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,320 shares of company stock valued at $2,072,849. Insiders own 17.60% of the company’s stock.

Incyte Stock Performance

INCY opened at $67.73 on Thursday. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The stock has a market cap of $13.11 billion, a price-to-earnings ratio of 250.86, a PEG ratio of 0.41 and a beta of 0.76. The business has a 50 day moving average of $71.82 and a 200-day moving average of $70.27. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. On average, equities research analysts expect that Incyte Co. will post 4.86 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. William Blair reiterated an “outperform” rating on shares of Incyte in a report on Friday, December 13th. Royal Bank of Canada decreased their price target on Incyte from $70.00 to $68.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 11th. UBS Group started coverage on Incyte in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price target for the company. StockNews.com downgraded Incyte from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $75.25.

About Incyte

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.