Andra AP fonden Has $39.14 Million Stake in Incyte Corporation $INCY

Andra AP fonden reduced its position in shares of Incyte Corporation (NASDAQ:INCY) by 14.0% in the 4th quarter, Holdings Channel reports. The firm owned 396,300 shares of the biopharmaceutical company’s stock after selling 64,300 shares during the period. Andra AP fonden’s holdings in Incyte were worth $39,143,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in INCY. Great Lakes Advisors LLC increased its holdings in shares of Incyte by 23.0% during the fourth quarter. Great Lakes Advisors LLC now owns 4,294 shares of the biopharmaceutical company’s stock worth $424,000 after buying an additional 804 shares in the last quarter. Aviva PLC increased its holdings in shares of Incyte by 4.0% during the fourth quarter. Aviva PLC now owns 146,203 shares of the biopharmaceutical company’s stock worth $14,440,000 after buying an additional 5,559 shares in the last quarter. Caerus Investment Advisors LLC grew its stake in shares of Incyte by 15.5% in the fourth quarter. Caerus Investment Advisors LLC now owns 9,026 shares of the biopharmaceutical company’s stock worth $891,000 after purchasing an additional 1,209 shares during the last quarter. NDVR Inc. bought a new stake in shares of Incyte in the fourth quarter worth $265,000. Finally, Nuveen LLC grew its stake in shares of Incyte by 3.2% in the fourth quarter. Nuveen LLC now owns 467,412 shares of the biopharmaceutical company’s stock worth $46,166,000 after purchasing an additional 14,681 shares during the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Pablo J. Cagnoni sold 18,667 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $96.50, for a total transaction of $1,801,365.50. Following the completion of the sale, the insider owned 262,692 shares in the company, valued at $25,349,778. This trade represents a 6.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.20% of the stock is currently owned by insiders.

Incyte Trading Up 2.3%

INCY opened at $107.83 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.68 and a quick ratio of 3.60. Incyte Corporation has a fifty-two week low of $66.74 and a fifty-two week high of $112.29. The firm has a market capitalization of $21.54 billion, a PE ratio of 15.23, a P/E/G ratio of 1.02 and a beta of 0.79. The company’s 50-day moving average is $97.49 and its 200 day moving average is $99.11.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.38 by $0.43. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.22 billion. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter last year, the business posted $1.16 EPS. As a group, research analysts predict that Incyte Corporation will post 6.64 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on INCY. UBS Group reduced their price objective on shares of Incyte from $104.00 to $94.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 25th. Citigroup reaffirmed a “market perform” rating on shares of Incyte in a research report on Tuesday, June 2nd. Stifel Nicolaus set a $123.00 price target on shares of Incyte in a research report on Tuesday. Wall Street Zen cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 14th. Finally, TD Cowen reissued a “hold” rating on shares of Incyte in a research report on Tuesday. Eight analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $105.10.

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.