Incyte Co. (INCY) Position Cut by Candriam Luxembourg S.C.A.

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.

Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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.

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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.

About Incyte

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).

5 Day Chart for NASDAQ:INCY

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