Natixis Advisors LLC Makes New Investment in Incyte Co. (NASDAQ:INCY)

Natixis Advisors LLC acquired a new position in Incyte Co. (NASDAQ:INCY) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 24,905 shares of the biopharmaceutical company’s stock, valued at approximately $1,720,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Poinciana Advisors Group LLC purchased a new position in shares of Incyte in the fourth quarter valued at about $360,000. LBP AM SA purchased a new position in shares of Incyte in the fourth quarter worth $13,905,000. Commonwealth Equity Services LLC grew its stake in Incyte by 2.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 30,527 shares of the biopharmaceutical company’s stock valued at $2,109,000 after acquiring an additional 782 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its stake in Incyte by 2.7% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 44,922 shares of the biopharmaceutical company’s stock worth $3,072,000 after purchasing an additional 1,192 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Incyte by 21.0% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 704,085 shares of the biopharmaceutical company’s stock valued at $48,631,000 after purchasing an additional 121,978 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Incyte news, EVP Sheila A. Denton sold 599 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total transaction of $41,924.01. Following the completion of the sale, the executive vice president now directly owns 25,848 shares of the company’s stock, valued at approximately $1,809,101.52. This represents a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Barry P. Flannelly sold 19,807 shares of Incyte stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the completion of the transaction, the executive vice president now directly owns 33,567 shares in the company, valued at approximately $2,272,150.23. The trade was a 37.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,827 shares of company stock worth $3,322,618 in the last three months. 17.60% of the stock is owned by insiders.

Incyte Stock Up 1.4 %

NASDAQ:INCY opened at $62.78 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. The firm has a market cap of $12.15 billion, a PE ratio of 232.53, a price-to-earnings-growth ratio of 0.41 and a beta of 0.76. The company has a 50-day moving average of $70.42 and a 200 day moving average of $70.17. Incyte Co. has a 1-year low of $50.35 and a 1-year high of $83.95.

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

Wall Street Analysts Forecast Growth

INCY has been the subject of a number of research reports. Citigroup dropped their price target on Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Truist Financial reduced their target price on shares of Incyte from $74.00 to $72.00 and set a “hold” rating on the stock in a report on Tuesday, March 18th. William Blair downgraded shares of Incyte from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 18th. Stifel Nicolaus lifted their target price on Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a report on Monday, February 10th. Finally, Morgan Stanley dropped their target price on Incyte from $69.00 to $65.00 and set an “equal weight” rating for the company in a research report on Monday. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $74.88.

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.