Natixis Advisors LLC Takes $1.72 Million Position in Incyte Co. (NASDAQ:INCY)

Natixis Advisors LLC bought a new position in Incyte Co. (NASDAQ:INCY) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 24,905 shares of the biopharmaceutical company’s stock, valued at approximately $1,720,000.

Several other large investors also recently bought and sold shares of the stock. CWA Asset Management Group LLC purchased a new position in shares of Incyte in the fourth quarter worth about $1,933,000. Orion Portfolio Solutions LLC acquired a new position in Incyte in the 3rd quarter worth approximately $770,000. Tri Ri Asset Management Corp purchased a new position in Incyte during the 3rd quarter worth approximately $3,292,000. Bridgewater Associates LP lifted its stake in Incyte by 142.8% during the 3rd quarter. Bridgewater Associates LP now owns 308,632 shares of the biopharmaceutical company’s stock valued at $20,401,000 after acquiring an additional 181,504 shares during the period. Finally, Pallas Capital Advisors LLC purchased a new stake in shares of Incyte in the 4th quarter valued at $1,006,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Stock Performance

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. Incyte Co. has a 1-year low of $50.35 and a 1-year high of $83.95. The company 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 stock’s 50 day simple moving average is $70.42 and its 200-day simple moving average is $70.17.

Incyte (NASDAQ:INCY) last announced its earnings results 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 return on equity of 0.05% and a net margin of 0.77%. As a group, equities research analysts anticipate that Incyte Co. will post 4.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. StockNews.com cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Guggenheim cut Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price objective for the company. in a report on Tuesday, March 18th. Stifel Nicolaus raised 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. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a report on Friday, January 10th. Finally, Morgan Stanley dropped their price objective on shares of Incyte from $69.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Monday. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $74.88.

Insider Buying and Selling

In other news, EVP Sheila A. Denton sold 14,069 shares of Incyte 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. The trade was a 35.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Barry P. Flannelly sold 19,807 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following 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. Over the last three months, insiders have sold 46,827 shares of company stock worth $3,322,618. 17.60% of the stock is owned by insiders.

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.