Axa S.A. Buys 8,014 Shares of Incyte Co. (NASDAQ:INCY)

Axa S.A. lifted its stake in Incyte Co. (NASDAQ:INCY) by 4.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 188,835 shares of the biopharmaceutical company’s stock after buying an additional 8,014 shares during the period. Axa S.A. owned approximately 0.08% of Incyte worth $11,447,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of INCY. D.A. Davidson & CO. bought a new stake in Incyte in the fourth quarter valued at approximately $265,000. Corient Private Wealth LLC increased its stake in shares of Incyte by 55.9% in the fourth quarter. Corient Private Wealth LLC now owns 8,546 shares of the biopharmaceutical company’s stock worth $537,000 after buying an additional 3,065 shares during the period. Franklin Resources Inc. raised its holdings in Incyte by 28.3% during the 4th quarter. Franklin Resources Inc. now owns 53,757 shares of the biopharmaceutical company’s stock valued at $3,375,000 after buying an additional 11,851 shares during the last quarter. US Bancorp DE boosted its position in Incyte by 2.5% during the 4th quarter. US Bancorp DE now owns 25,004 shares of the biopharmaceutical company’s stock valued at $1,570,000 after buying an additional 600 shares during the period. Finally, Bank of Nova Scotia grew its holdings in Incyte by 172.8% in the 4th quarter. Bank of Nova Scotia now owns 66,956 shares of the biopharmaceutical company’s stock worth $4,204,000 after acquiring an additional 42,415 shares during the last quarter. Institutional investors own 96.97% of the company’s stock.

Insider Buying and Selling at Incyte

In other news, EVP Vijay K. Iyengar sold 15,571 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $70.00, for a total value of $1,089,970.00. Following the transaction, the executive vice president now owns 36,701 shares in the company, valued at $2,569,070. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Vijay K. Iyengar sold 15,571 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $70.00, for a total transaction of $1,089,970.00. Following the completion of the sale, the executive vice president now owns 36,701 shares of the company’s stock, valued at $2,569,070. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Thomas Tray sold 572 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 24,825 shares in the company, valued at $1,562,485.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,047 shares of company stock worth $2,225,626. 17.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

INCY has been the subject of a number of analyst reports. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a report on Monday, September 16th. William Blair reiterated an “outperform” rating on shares of Incyte in a research report on Monday, September 9th. Oppenheimer reduced their target price on Incyte from $84.00 to $81.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. BMO Capital Markets reaffirmed an “underperform” rating and issued a $48.00 price target (down previously from $52.00) on shares of Incyte in a research note on Tuesday, July 2nd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $67.00 price target on shares of Incyte in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Incyte currently has an average rating of “Hold” and a consensus price target of $73.24.

Incyte Stock Performance

Incyte stock opened at $65.83 on Friday. The stock’s 50 day moving average is $64.31 and its 200 day moving average is $59.92. The company has a market capitalization of $14.78 billion, a P/E ratio of 19.95, a PEG ratio of 5.17 and a beta of 0.73. Incyte Co. has a twelve month low of $50.27 and a twelve month high of $70.36. The company has a quick ratio of 1.84, a current ratio of 1.92 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing the consensus estimate of $0.78 by ($2.60). The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Incyte had a net margin of 2.52% and a return on equity of 0.75%. Incyte’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.77 earnings per share. On average, equities research analysts predict that Incyte Co. will post 0.66 earnings per share 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.