Groupama Asset Managment Decreases Stock Position in Incyte Corporation $INCY

Groupama Asset Managment cut its holdings in Incyte Corporation (NASDAQ:INCY) by 10.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,451 shares of the biopharmaceutical company’s stock after selling 7,608 shares during the quarter. Groupama Asset Managment’s holdings in Incyte were worth $6,254,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC raised its stake in shares of Incyte by 369.3% in the first quarter. NewEdge Advisors LLC now owns 12,597 shares of the biopharmaceutical company’s stock worth $763,000 after purchasing an additional 9,913 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Incyte by 15.1% during the first quarter. Jones Financial Companies Lllp now owns 4,944 shares of the biopharmaceutical company’s stock valued at $299,000 after buying an additional 648 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Incyte by 6.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 814,559 shares of the biopharmaceutical company’s stock worth $49,322,000 after buying an additional 48,751 shares in the last quarter. United Services Automobile Association bought a new stake in Incyte in the 1st quarter worth about $219,000. Finally, Focus Partners Wealth increased its holdings in Incyte by 74.1% in the 1st quarter. Focus Partners Wealth now owns 21,024 shares of the biopharmaceutical company’s stock worth $1,273,000 after buying an additional 8,951 shares in the last quarter. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Incyte Stock Performance

Incyte stock opened at $119.52 on Friday. The stock has a market cap of $24.23 billion, a PE ratio of 15.23, a price-to-earnings-growth ratio of 1.60 and a beta of 0.76. Incyte Corporation has a one year low of $73.81 and a one year high of $132.60. The stock has a fifty day moving average of $109.54 and a 200 day moving average of $102.24.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, July 28th. The biopharmaceutical company reported $3.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.94. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.50 billion. Incyte had a return on equity of 29.93% and a net margin of 27.71%.Incyte’s revenue was up 37.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.57 earnings per share. As a group, sell-side analysts predict that Incyte Corporation will post 6.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on INCY shares. Morgan Stanley set a $119.00 target price on shares of Incyte in a research note on Wednesday. UBS Group lifted their price target on shares of Incyte from $103.00 to $113.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. Wall Street Zen cut shares of Incyte from a “buy” rating to a “hold” rating in a report on Saturday. Guggenheim boosted their price objective on shares of Incyte from $136.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Oppenheimer restated a “market perform” rating and set a $120.00 price objective on shares of Incyte in a research report on Tuesday. Eight research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $117.74.

Incyte Company 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.