Natixis Makes New Investment in Incyte Co. (NASDAQ:INCY)

Natixis bought a new stake in shares of Incyte Co. (NASDAQ:INCY) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 114,175 shares of the biopharmaceutical company’s stock, valued at approximately $7,886,000.

Other hedge funds also recently made changes to their positions in the company. CWA Asset Management Group LLC purchased a new stake in Incyte during the fourth quarter worth about $1,933,000. Tri Ri Asset Management Corp purchased a new stake in shares of Incyte during the 3rd quarter worth approximately $3,292,000. Wells Fargo & Company MN lifted its stake in Incyte by 61.3% in the fourth quarter. Wells Fargo & Company MN now owns 174,190 shares of the biopharmaceutical company’s stock valued at $12,031,000 after purchasing an additional 66,220 shares during the last quarter. Pallas Capital Advisors LLC bought a new position in Incyte during the fourth quarter valued at $1,006,000. Finally, JPMorgan Chase & Co. increased its position in Incyte by 13.5% in the fourth quarter. JPMorgan Chase & Co. now owns 323,640 shares of the biopharmaceutical company’s stock worth $22,354,000 after buying an additional 38,550 shares during the last quarter. 96.97% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Steven H. Stein sold 12,352 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total transaction of $897,866.88. Following the completion of the sale, the executive vice president now directly owns 66,967 shares in the company, valued at $4,867,831.23. This represents a 15.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Sheila A. Denton sold 14,069 shares of the firm’s 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 completion of the sale, the executive vice president now directly owns 25,848 shares in the company, valued at approximately $1,914,561.36. This trade represents a 35.25 % 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 valued at $3,322,618. 17.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. Truist Financial reduced their target price on shares of Incyte from $74.00 to $72.00 and set a “hold” rating for the company in a research note on Tuesday, March 18th. Citigroup dropped their price target on shares of Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. StockNews.com lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Finally, Morgan Stanley dropped their target price on Incyte from $69.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Monday, March 24th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $74.88.

Incyte Price Performance

Shares of Incyte stock opened at $58.21 on Monday. The business’s 50-day moving average price is $64.84 and its 200-day moving average price is $69.33. The firm has a market capitalization of $11.27 billion, a PE ratio of 215.60, a price-to-earnings-growth ratio of 0.41 and a beta of 0.89. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. Sell-side analysts forecast that Incyte Co. will post 4.86 EPS for the current fiscal year.

Incyte Company 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.