Andra AP fonden Raises Stock Position in Incyte Corporation $INCY

Andra AP fonden grew its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 24.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 460,600 shares of the biopharmaceutical company’s stock after acquiring an additional 89,800 shares during the quarter. Andra AP fonden’s holdings in Incyte were worth $39,063,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. denkapparat Operations GmbH increased its position in Incyte by 46.1% during the second quarter. denkapparat Operations GmbH now owns 11,292 shares of the biopharmaceutical company’s stock valued at $769,000 after acquiring an additional 3,564 shares during the last quarter. Rakuten Investment Management Inc. bought a new position in Incyte during the 3rd quarter valued at about $14,646,000. LBP AM SA raised its position in Incyte by 33.6% in the 3rd quarter. LBP AM SA now owns 238,705 shares of the biopharmaceutical company’s stock worth $20,245,000 after purchasing an additional 59,974 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Incyte by 38.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 387,605 shares of the biopharmaceutical company’s stock worth $32,873,000 after purchasing an additional 108,645 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Incyte by 28.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 106,789 shares of the biopharmaceutical company’s stock valued at $9,309,000 after buying an additional 23,954 shares during the period. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on INCY. Mizuho set a $121.00 price target on Incyte and gave the stock an “outperform” rating in a report on Monday, December 8th. Guggenheim upgraded Incyte from a “neutral” rating to a “buy” rating and set a $125.00 target price on the stock in a research note on Monday, November 3rd. Stifel Nicolaus boosted their target price on shares of Incyte from $119.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Piper Sandler raised their price target on shares of Incyte from $102.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, February 6th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Incyte in a research report on Thursday, January 22nd. Nine research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $104.00.

Incyte Price Performance

Shares of INCY stock opened at $100.09 on Friday. The company has a market cap of $19.92 billion, a P/E ratio of 15.61, a PEG ratio of 0.80 and a beta of 0.82. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.32 and a quick ratio of 3.25. The stock’s 50-day moving average is $102.55 and its 200 day moving average is $95.57. Incyte Corporation has a 1-year low of $53.56 and a 1-year high of $112.29.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, February 10th. The biopharmaceutical company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.96 by ($0.16). The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.35 billion. Incyte had a return on equity of 26.34% and a net margin of 25.03%.The company’s revenue was up 27.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.43 EPS. Research analysts predict that Incyte Corporation will post 4.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Incyte news, insider Thomas Tray sold 2,774 shares of the stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $100.00, for a total value of $277,400.00. Following the completion of the sale, the insider directly owned 22,973 shares in the company, valued at approximately $2,297,300. This trade represents a 10.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mohamed Khairie Issa sold 10,856 shares of the business’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $109.07, for a total value of $1,184,063.92. Following the sale, the executive vice president owned 66,132 shares in the company, valued at $7,213,017.24. The trade was a 14.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 95,225 shares of company stock worth $9,519,745 over the last quarter. Company insiders own 17.80% of the company’s stock.

Incyte 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.