Amundi Purchases 101,220 Shares of Incyte Corporation $INCY

Amundi boosted its stake in shares of Incyte Corporation (NASDAQ:INCY) by 19.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 613,250 shares of the biopharmaceutical company’s stock after acquiring an additional 101,220 shares during the quarter. Amundi owned 0.31% of Incyte worth $41,805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. Banque Transatlantique SA purchased a new stake in shares of Incyte in the first quarter worth approximately $26,000. FNY Investment Advisers LLC purchased a new stake in Incyte during the second quarter worth $27,000. Hilltop National Bank bought a new stake in Incyte during the second quarter valued at about $37,000. SVB Wealth LLC acquired a new position in shares of Incyte during the first quarter worth $39,000. Finally, Geneos Wealth Management Inc. boosted its holdings in Incyte by 350.0% in the first quarter. Geneos Wealth Management Inc. now owns 756 shares of the biopharmaceutical company’s stock worth $46,000 after acquiring an additional 588 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on INCY shares. Morgan Stanley upped their price objective on Incyte from $86.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Monday. Stifel Nicolaus upped their price objective on shares of Incyte from $110.00 to $115.00 and gave the company a “buy” rating in a report on Monday, September 22nd. Bank of America boosted their price objective on shares of Incyte from $90.00 to $104.00 and gave the company a “buy” rating in a report on Thursday, September 4th. Oppenheimer cut Incyte from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada upped their price target on Incyte from $81.00 to $84.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 29th. Eight equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $99.07.

Incyte Stock Performance

Shares of INCY opened at $95.16 on Wednesday. The stock has a market cap of $18.68 billion, a P/E ratio of 15.94, a PEG ratio of 0.66 and a beta of 0.81. The company has a 50-day moving average of $96.38 and a two-hundred day moving average of $83.06. Incyte Corporation has a 12-month low of $53.56 and a 12-month high of $109.28. The company has a current ratio of 3.20, a quick ratio of 3.13 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, October 28th. The biopharmaceutical company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.61. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.26 billion. Incyte had a return on equity of 26.56% and a net margin of 24.69%.The firm’s quarterly revenue was up 20.0% on a year-over-year basis. During the same period last year, the company earned $1.07 EPS. As a group, research analysts predict that Incyte Corporation will post 4.86 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Sheila A. Denton sold 598 shares of Incyte stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $101.36, for a total transaction of $60,613.28. Following the transaction, the executive vice president directly owned 26,569 shares in the company, valued at approximately $2,693,033.84. This trade represents a 2.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Steven H. Stein sold 20,105 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $102.51, for a total transaction of $2,060,963.55. Following the completion of the sale, the executive vice president owned 63,129 shares in the company, valued at $6,471,353.79. The trade was a 24.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 26,891 shares of company stock worth $2,720,766. Corporate insiders own 17.80% of the company’s stock.

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.