BNP Paribas Financial Markets Reduces Holdings in Incyte Co. (NASDAQ:INCY)

BNP Paribas Financial Markets cut its position in Incyte Co. (NASDAQ:INCY) by 7.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 184,804 shares of the biopharmaceutical company’s stock after selling 15,713 shares during the quarter. BNP Paribas Financial Markets owned 0.10% of Incyte worth $12,216,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in INCY. MFA Wealth Advisors LLC purchased a new stake in shares of Incyte during the second quarter worth about $26,000. Brooklyn Investment Group acquired a new stake in Incyte during the 3rd quarter valued at approximately $30,000. Innealta Capital LLC purchased a new stake in Incyte during the 2nd quarter worth approximately $32,000. Itau Unibanco Holding S.A. purchased a new stake in Incyte during the 2nd quarter worth approximately $36,000. Finally, Deseret Mutual Benefit Administrators boosted its stake in shares of Incyte by 37.1% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock valued at $37,000 after buying an additional 164 shares during the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Barry P. Flannelly sold 3,680 shares of Incyte stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total transaction of $293,222.40. Following the transaction, the executive vice president now directly owns 58,042 shares in the company, valued at approximately $4,624,786.56. This trade represents a 5.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas Tray sold 572 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total value of $36,001.68. Following the completion of the sale, the insider now owns 24,825 shares of the company’s stock, valued at approximately $1,562,485.50. This trade represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,702 shares of company stock worth $856,166. 17.60% of the stock is owned by corporate insiders.

Incyte Stock Performance

Shares of INCY stock opened at $74.59 on Monday. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82. The firm has a market capitalization of $14.37 billion, a price-to-earnings ratio of 532.82, a price-to-earnings-growth ratio of 8.60 and a beta of 0.71. The business has a 50 day simple moving average of $70.76 and a 200 day simple moving average of $65.22.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. Incyte’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same period last year, the business posted $0.91 earnings per share. On average, equities research analysts anticipate that Incyte Co. will post 0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on INCY shares. Wolfe Research started coverage on shares of Incyte in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $84.00 price target for the company. Guggenheim boosted their target price on shares of Incyte from $86.00 to $92.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research report on Tuesday, November 19th. William Blair reiterated an “outperform” rating on shares of Incyte in a research note on Monday, September 9th. Finally, The Goldman Sachs Group upped their price objective on Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Incyte presently has a consensus rating of “Hold” and a consensus target price of $77.16.

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.