iA Global Asset Management Inc. Has $473,000 Stock Holdings in Incyte Co. (NASDAQ:INCY)

iA Global Asset Management Inc. increased its position in Incyte Co. (NASDAQ:INCY) by 100.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,809 shares of the biopharmaceutical company’s stock after buying an additional 3,906 shares during the quarter. iA Global Asset Management Inc.’s holdings in Incyte were worth $473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Cape Investment Advisory Inc. acquired a new position in Incyte in the 4th quarter valued at approximately $25,000. MFA Wealth Advisors LLC bought a new stake in shares of Incyte in the second quarter worth $26,000. Redmont Wealth Advisors LLC acquired a new stake in Incyte in the first quarter valued at $28,000. Riverview Trust Co bought a new position in Incyte during the 1st quarter worth $29,000. Finally, Fidelis Capital Partners LLC acquired a new position in Incyte during the 1st quarter worth about $32,000. Institutional investors own 96.97% of the company’s stock.

Incyte Stock Performance

Shares of INCY stock opened at $65.66 on Friday. Incyte Co. has a 12 month low of $50.27 and a 12 month high of $70.36. The firm has a market capitalization of $14.74 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 1.14 and a beta of 0.73. The firm has a fifty day simple moving average of $63.21 and a two-hundred day simple moving average of $59.27. The company has a current ratio of 1.92, a quick ratio of 3.43 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Incyte had a return on equity of 0.75% and a net margin of 2.52%. The company’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 EPS. Analysts forecast that Incyte Co. will post 3.35 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on INCY. Oppenheimer lowered their price objective on Incyte from $84.00 to $81.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. upped their price objective on shares of Incyte from $59.00 to $61.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. BMO Capital Markets reissued an “underperform” rating and set a $48.00 target price (down previously from $52.00) on shares of Incyte in a research note on Tuesday, July 2nd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research report on Tuesday, June 18th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $73.29.

Insider Transactions at Incyte

In related news, insider Thomas Tray sold 1,093 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $58.91, for a total transaction of $64,388.63. Following the completion of the sale, the insider now owns 21,634 shares in the company, valued at $1,274,458.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Incyte news, EVP Barry P. Flannelly sold 19,164 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total value of $1,149,840.00. Following the completion of the sale, the executive vice president now owns 66,377 shares in the company, valued at approximately $3,982,620. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Thomas Tray sold 1,093 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $58.91, for a total value of $64,388.63. Following the completion of the transaction, the insider now owns 21,634 shares in the company, valued at approximately $1,274,458.94. The disclosure for this sale can be found here. Insiders sold a total of 45,282 shares of company stock valued at $2,876,911 over the last ninety days. 17.50% of the stock is currently 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.