KBC Group NV Trims Stock Position in Incyte Corporation $INCY

KBC Group NV lowered its stake in shares of Incyte Corporation (NASDAQ:INCY) by 89.8% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 27,254 shares of the biopharmaceutical company’s stock after selling 240,140 shares during the period. KBC Group NV’s holdings in Incyte were worth $2,565,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in shares of Incyte by 11.3% during the fourth quarter. Geode Capital Management LLC now owns 4,993,012 shares of the biopharmaceutical company’s stock valued at $491,500,000 after purchasing an additional 506,842 shares in the last quarter. Invesco Ltd. grew its position in shares of Incyte by 13.2% in the 4th quarter. Invesco Ltd. now owns 3,473,781 shares of the biopharmaceutical company’s stock worth $343,105,000 after buying an additional 405,611 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Incyte by 13.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,103,946 shares of the biopharmaceutical company’s stock worth $263,246,000 after acquiring an additional 373,298 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Incyte by 0.9% during the fourth quarter. Morgan Stanley now owns 2,663,823 shares of the biopharmaceutical company’s stock valued at $263,106,000 after purchasing an additional 23,087 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in Incyte by 7.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,480,793 shares of the biopharmaceutical company’s stock valued at $245,028,000 after buying an additional 161,405 shares during the last quarter. 96.97% of the stock is owned by institutional investors.

Incyte Trading Up 0.8%

Shares of Incyte stock opened at $117.67 on Friday. Incyte Corporation has a 1-year low of $69.69 and a 1-year high of $119.60. The company’s fifty day simple moving average is $106.82 and its 200-day simple moving average is $101.63. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.68 and a quick ratio of 3.60. The stock has a market capitalization of $23.51 billion, a PE ratio of 16.62, a P/E/G ratio of 1.05 and a beta of 0.76.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.38 by $0.43. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the business posted $1.16 EPS. Incyte’s revenue was up 20.9% on a year-over-year basis. As a group, equities analysts anticipate that Incyte Corporation will post 6.63 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on INCY shares. Morgan Stanley increased their target price on Incyte from $103.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Thursday. Truist Financial boosted their price objective on shares of Incyte from $103.00 to $105.00 and gave the stock a “hold” rating in a report on Monday, June 22nd. TD Cowen reaffirmed a “hold” rating on shares of Incyte in a research report on Tuesday, June 9th. JPMorgan Chase & Co. lifted their price objective on Incyte from $105.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, BMO Capital Markets lifted their target price on shares of Incyte from $94.00 to $112.00 and gave the stock a “market perform” rating in a research report on Monday, July 13th. Eight investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $111.10.

Incyte Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.