Andra AP fonden Sells 137,252 Shares of Incyte Corporation $INCY

Andra AP fonden cut its stake in shares of Incyte Corporation (NASDAQ:INCY) by 34.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 259,048 shares of the biopharmaceutical company’s stock after selling 137,252 shares during the period. Andra AP fonden’s holdings in Incyte were worth $24,382,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Elyxium Wealth LLC bought a new position in Incyte during the fourth quarter worth about $28,000. Smithfield Trust Co raised its position in shares of Incyte by 135.0% in the 4th quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 162 shares during the period. MUFG Securities EMEA plc bought a new position in Incyte during the 2nd quarter worth approximately $32,000. CYBER HORNET ETFs LLC acquired a new position in Incyte during the second quarter valued at approximately $33,000. Finally, Leonteq Securities AG bought a new stake in Incyte in the fourth quarter valued at approximately $35,000. Institutional investors own 96.97% of the company’s stock.

Incyte Price Performance

INCY stock opened at $115.65 on Tuesday. The stock has a 50-day moving average price of $105.29 and a two-hundred day moving average price of $101.16. Incyte Corporation has a 1 year low of $67.17 and a 1 year high of $119.60. The stock has a market cap of $23.10 billion, a PE ratio of 16.33, a price-to-earnings-growth ratio of 1.06 and a beta of 0.76. The company has a current ratio of 3.68, a quick ratio of 3.60 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.43. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.22 billion. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The company’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.16 earnings per share. Equities analysts forecast that Incyte Corporation will post 6.61 EPS for the current fiscal year.

Wall Street Analyst Weigh In

INCY has been the subject of several research analyst reports. HC Wainwright reissued a “buy” rating on shares of Incyte in a report on Tuesday, July 14th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Incyte in a report on Monday, June 29th. TD Cowen restated a “hold” rating on shares of Incyte in a report on Tuesday, June 9th. Barclays raised their price target on Incyte from $117.00 to $134.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Finally, BMO Capital Markets boosted their price objective on Incyte from $94.00 to $112.00 and gave the company a “market perform” rating in a research report on Monday, July 13th. Eight research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $109.95.

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.