Candriam S.C.A. Has $70.22 Million Holdings in Incyte Corporation $INCY

Candriam S.C.A. grew its holdings in Incyte Corporation (NASDAQ:INCY) by 18.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,031,121 shares of the biopharmaceutical company’s stock after purchasing an additional 162,576 shares during the quarter. Candriam S.C.A.’s holdings in Incyte were worth $70,222,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Police & Firemen s Retirement System of New Jersey boosted its stake in Incyte by 4.3% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 24,052 shares of the biopharmaceutical company’s stock valued at $1,638,000 after acquiring an additional 1,001 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Incyte by 3.3% in the 2nd quarter. Geode Capital Management LLC now owns 4,347,731 shares of the biopharmaceutical company’s stock valued at $294,899,000 after purchasing an additional 139,740 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Incyte by 2.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 31,045 shares of the biopharmaceutical company’s stock valued at $2,114,000 after purchasing an additional 888 shares during the period. denkapparat Operations GmbH boosted its position in shares of Incyte by 46.1% in the 2nd quarter. denkapparat Operations GmbH now owns 11,292 shares of the biopharmaceutical company’s stock worth $769,000 after purchasing an additional 3,564 shares during the last quarter. Finally, Tobam grew its stake in shares of Incyte by 127.0% during the second quarter. Tobam now owns 18,238 shares of the biopharmaceutical company’s stock worth $1,242,000 after purchasing an additional 10,205 shares during the period. 96.97% of the stock is owned by institutional investors.

Incyte Price Performance

NASDAQ INCY opened at $108.26 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.78 and a current ratio of 3.20. The stock has a market cap of $21.25 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 0.70 and a beta of 0.74. The business has a 50 day simple moving average of $89.59 and a 200 day simple moving average of $77.50. Incyte Corporation has a 52-week low of $53.56 and a 52-week high of $109.28.

Analyst Ratings Changes

Several research firms have weighed in on INCY. Zacks Research lowered Incyte from a “strong-buy” rating to a “hold” rating in a research note on Monday. Oppenheimer downgraded shares of Incyte from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 8th. BMO Capital Markets reissued an “underperform” rating and set a $60.00 price objective (up previously from $52.00) on shares of Incyte in a research note on Wednesday, July 30th. Bank of America upped their target price on shares of Incyte from $90.00 to $104.00 and gave the company a “buy” rating in a research note on Thursday, September 4th. Finally, Royal Bank Of Canada increased their target price on shares of Incyte from $81.00 to $84.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 29th. Seven equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $92.77.

Insiders Place Their Bets

In related news, EVP Sheila A. Denton sold 598 shares of the firm’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $101.36, for a total transaction of $60,613.28. Following the sale, the executive vice president directly owned 26,569 shares in the company, valued at $2,693,033.84. This trade represents a 2.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Lee Heeson sold 3,074 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $94.02, for a total transaction of $289,017.48. Following the completion of the transaction, the executive vice president directly owned 29,241 shares of the company’s stock, valued at approximately $2,749,238.82. The trade was a 9.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 4,227 shares of company stock worth $396,327. 17.80% of the stock is currently owned by company insiders.

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.