Incyte Co. (NASDAQ:INCY) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets trimmed its stake in Incyte Co. (NASDAQ:INCY) by 7.8% during the third quarter, HoldingsChannel.com reports. The fund owned 184,804 shares of the biopharmaceutical company’s stock after selling 15,713 shares during the period. BNP Paribas Financial Markets’ holdings in Incyte were worth $12,216,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Greenwood Capital Associates LLC purchased a new position in Incyte in the 3rd quarter worth about $433,000. Andra AP fonden increased its position in shares of Incyte by 35.2% in the second quarter. Andra AP fonden now owns 247,800 shares of the biopharmaceutical company’s stock worth $15,022,000 after acquiring an additional 64,500 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of Incyte by 19.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 152,452 shares of the biopharmaceutical company’s stock valued at $8,652,000 after acquiring an additional 24,328 shares during the period. SG Americas Securities LLC boosted its stake in Incyte by 54.0% in the 2nd quarter. SG Americas Securities LLC now owns 67,936 shares of the biopharmaceutical company’s stock worth $4,118,000 after purchasing an additional 23,817 shares during the period. Finally, Cypress Capital Group purchased a new position in Incyte during the 3rd quarter worth approximately $971,000. 96.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Thomas Tray sold 572 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total transaction of $36,001.68. Following the completion of the transaction, the insider now directly owns 24,825 shares in the company, valued at $1,562,485.50. This represents a 2.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Barry P. Flannelly sold 3,680 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total transaction of $293,222.40. Following the completion of the sale, the executive vice president now owns 58,042 shares in the company, valued at $4,624,786.56. This represents a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,702 shares of company stock valued at $856,166. Insiders own 17.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Guggenheim raised their price objective on Incyte from $86.00 to $92.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Wells Fargo & Company upped their target price on Incyte from $62.00 to $68.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a report on Tuesday, November 19th. Finally, Citigroup upped their price objective on shares of Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $77.16.

Incyte Trading Down 1.1 %

Shares of INCY stock opened at $74.59 on Monday. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95. The company has a market cap of $14.37 billion, a PE ratio of 532.82, a price-to-earnings-growth ratio of 8.60 and a beta of 0.71. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $70.76 and its two-hundred day moving average is $65.22.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.12). Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The firm had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the business earned $0.91 EPS. The business’s revenue was up 23.8% compared to the same quarter last year. Equities analysts predict that Incyte Co. will post 0.4 EPS for the current year.

Incyte 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.