Candriam Luxembourg S.C.A. lowered its position in shares of Incyte Co. (NASDAQ:INCY) by 5.9% during the first quarter, Holdings Channel reports. The institutional investor owned 342,356 shares of the biopharmaceutical company’s stock after selling 21,468 shares during the period. Incyte comprises 0.9% of Candriam Luxembourg S.C.A.’s investment portfolio, making the stock its 17th largest position. Candriam Luxembourg S.C.A. owned approximately 0.18% of Incyte worth $45,765,000 as of its most recent filing with the SEC.
A number of other large investors have also bought and sold shares of the stock. Ladenburg Thalmann Financial Services Inc. boosted its stake in Incyte by 1.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,322 shares of the biopharmaceutical company’s stock worth $133,000 after buying an additional 22 shares in the last quarter. Ngam Advisors L.P. boosted its stake in Incyte by 0.4% in the third quarter. Ngam Advisors L.P. now owns 11,898 shares of the biopharmaceutical company’s stock worth $1,122,000 after buying an additional 47 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its stake in Incyte by 1.0% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 11,567 shares of the biopharmaceutical company’s stock worth $1,090,000 after buying an additional 114 shares in the last quarter. HighTower Advisors LLC boosted its stake in Incyte by 1.2% in the third quarter. HighTower Advisors LLC now owns 13,226 shares of the biopharmaceutical company’s stock worth $1,244,000 after buying an additional 159 shares in the last quarter. Finally, Tocqueville Asset Management L.P. boosted its stake in Incyte by 0.3% in the third quarter. Tocqueville Asset Management L.P. now owns 82,200 shares of the biopharmaceutical company’s stock worth $7,751,000 after buying an additional 225 shares in the last quarter. 92.62% of the stock is currently owned by institutional investors and hedge funds.
Incyte Co. (NASDAQ:INCY) traded down 0.08% on Friday, reaching $123.01. The company had a trading volume of 1,818,583 shares. The company’s 50-day moving average price is $138.77 and its 200 day moving average price is $114.39. Incyte Co. has a 1-year low of $68.03 and a 1-year high of $153.15. The firm has a market capitalization of $23.30 billion, a P/E ratio of 227.80 and a beta of 0.78.
Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, February 14th. The biopharmaceutical company reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.09. The company had revenue of $326 million for the quarter, compared to analysts’ expectations of $324.90 million. Incyte had a return on equity of 50.38% and a net margin of 14.71%. The business’s revenue for the quarter was up 33.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.29 EPS. On average, equities analysts forecast that Incyte Co. will post ($0.08) EPS for the current year.
COPYRIGHT VIOLATION NOTICE: “Incyte Co. (INCY) Position Cut by Candriam Luxembourg S.C.A.” was reported by Ticker Report and is the sole property of of Ticker Report. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this piece of content can be accessed at https://www.tickerreport.com/banking-finance/2486077/incyte-co-incy-position-cut-by-candriam-luxembourg-s-c-a.html.
A number of research firms have commented on INCY. BMO Capital Markets raised their price target on Incyte from $140.00 to $170.00 and gave the company an “outperform” rating in a report on Monday, April 3rd. Barclays PLC set a $135.00 price target on Incyte and gave the company a “buy” rating in a report on Saturday, April 8th. Zacks Investment Research cut Incyte from a “hold” rating to a “sell” rating in a report on Wednesday, April 5th. Piper Jaffray Companies reissued a “neutral” rating and set a $124.00 price target on shares of Incyte in a report on Monday. Finally, Raymond James Financial, Inc. reissued a “hold” rating on shares of Incyte in a report on Monday. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Incyte presently has a consensus rating of “Buy” and an average target price of $139.40.
In other Incyte news, insider David W. Gryska sold 41,528 shares of the stock in a transaction that occurred on Monday, April 10th. The shares were sold at an average price of $138.00, for a total transaction of $5,730,864.00. Following the sale, the insider now directly owns 20,754 shares in the company, valued at approximately $2,864,052. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Paul A. Friedman sold 50,000 shares of the stock in a transaction that occurred on Friday, March 17th. The stock was sold at an average price of $148.72, for a total transaction of $7,436,000.00. Following the sale, the director now owns 302,976 shares in the company, valued at $45,058,590.72. The disclosure for this sale can be found here. Insiders have sold a total of 127,571 shares of company stock valued at $18,145,772 in the last ninety days. 13.70% of the stock is currently owned by corporate insiders.
Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).
Want to see what other hedge funds are holding INCY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Incyte Co. (NASDAQ:INCY).
Receive News & Ratings for Incyte Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte Co. and related companies with MarketBeat.com's FREE daily email newsletter.