iA Global Asset Management Inc. Invests $1.49 Million in Incyte Corporation $INCY

iA Global Asset Management Inc. bought a new position in shares of Incyte Corporation (NASDAQ:INCY) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 17,606 shares of the biopharmaceutical company’s stock, valued at approximately $1,493,000.

A number of other large investors have also recently bought and sold shares of the stock. Harbor Capital Advisors Inc. acquired a new position in Incyte during the third quarter worth $26,000. FNY Investment Advisers LLC bought a new stake in shares of Incyte in the 2nd quarter worth about $27,000. Root Financial Partners LLC acquired a new stake in shares of Incyte during the 3rd quarter worth about $28,000. Quent Capital LLC acquired a new stake in shares of Incyte during the 3rd quarter worth about $30,000. Finally, MUFG Securities EMEA plc bought a new position in Incyte during the 2nd quarter valued at about $32,000. 96.97% of the stock is currently owned by institutional investors.

Insider Activity at Incyte

In related news, EVP Michael James Morrissey sold 54,008 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $97.29, for a total transaction of $5,254,438.32. Following the completion of the sale, the executive vice president directly owned 31,830 shares of the company’s stock, valued at $3,096,740.70. The trade was a 62.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Steven H. Stein sold 20,105 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $102.51, for a total transaction of $2,060,963.55. Following the completion of the transaction, the executive vice president owned 63,129 shares in the company, valued at $6,471,353.79. This represents a 24.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 98,897 shares of company stock worth $9,869,376. Insiders own 17.80% of the company’s stock.

Incyte Stock Down 2.9%

Shares of INCY opened at $101.99 on Friday. The firm has a market capitalization of $20.02 billion, a price-to-earnings ratio of 17.08, a PEG ratio of 0.62 and a beta of 0.82. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.13 and a current ratio of 3.20. The business’s fifty day moving average price is $101.99 and its two-hundred day moving average price is $90.78. Incyte Corporation has a 52 week low of $53.56 and a 52 week high of $112.29.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, October 28th. The biopharmaceutical company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.61. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.26 billion. Incyte had a return on equity of 26.56% and a net margin of 24.69%.The firm’s quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.07 earnings per share. On average, analysts predict that Incyte Corporation will post 4.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on INCY shares. Barclays upped their price objective on shares of Incyte from $101.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, November 24th. Morgan Stanley raised their price target on Incyte from $92.00 to $94.00 and gave the company an “equal weight” rating in a report on Tuesday, January 6th. Royal Bank Of Canada boosted their price objective on Incyte from $81.00 to $84.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 29th. TD Cowen restated a “buy” rating on shares of Incyte in a report on Tuesday, January 13th. Finally, Mizuho set a $121.00 price target on Incyte and gave the company an “outperform” rating in a report on Monday, December 8th. Eight analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $100.75.

Incyte Company Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.