Arbejdsmarkedets Tillaegspension Buys 35,173 Shares of Incyte Corporation $INCY

Arbejdsmarkedets Tillaegspension grew its position in Incyte Corporation (NASDAQ:INCY) by 14.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 279,592 shares of the biopharmaceutical company’s stock after purchasing an additional 35,173 shares during the period. Incyte accounts for 0.7% of Arbejdsmarkedets Tillaegspension’s investment portfolio, making the stock its 10th biggest holding. Arbejdsmarkedets Tillaegspension’s holdings in Incyte were worth $26,315,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its stake in Incyte by 369.3% in the first quarter. NewEdge Advisors LLC now owns 12,597 shares of the biopharmaceutical company’s stock valued at $763,000 after buying an additional 9,913 shares during the period. Jones Financial Companies Lllp raised its position in shares of Incyte by 15.1% in the 1st quarter. Jones Financial Companies Lllp now owns 4,944 shares of the biopharmaceutical company’s stock valued at $299,000 after acquiring an additional 648 shares during the period. Goldman Sachs Group Inc. boosted its stake in Incyte by 6.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 814,559 shares of the biopharmaceutical company’s stock worth $49,322,000 after acquiring an additional 48,751 shares during the last quarter. United Services Automobile Association bought a new position in Incyte during the 1st quarter worth approximately $219,000. Finally, Focus Partners Wealth grew its holdings in Incyte by 74.1% during the first quarter. Focus Partners Wealth now owns 21,024 shares of the biopharmaceutical company’s stock valued at $1,273,000 after purchasing an additional 8,951 shares during the period. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Incyte Stock Performance

Shares of NASDAQ:INCY opened at $116.71 on Monday. The company’s 50-day moving average price is $103.20 and its two-hundred day moving average price is $100.50. 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 one year low of $67.17 and a one year high of $118.97. The stock has a market capitalization of $23.32 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 1.07 and a beta of 0.76.

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

Analyst Upgrades and Downgrades

INCY has been the subject of a number of research analyst reports. Sanford C. Bernstein assumed coverage on Incyte in a research note on Thursday, May 21st. They issued a “market perform” rating and a $99.00 target price for the company. BMO Capital Markets raised Incyte from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $75.00 to $94.00 in a research note on Monday, June 22nd. HC Wainwright reaffirmed a “buy” rating and issued a $140.00 price target on shares of Incyte in a research note on Wednesday, June 24th. UBS Group upped their price target on shares of Incyte from $103.00 to $113.00 and gave the company a “neutral” rating in a report on Friday, June 26th. Finally, Truist Financial increased their price objective on shares of Incyte from $103.00 to $105.00 and gave the stock a “hold” rating in a research report on Monday, June 22nd. Eight analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat.com, Incyte has a consensus rating of “Hold” and a consensus target price of $108.20.

Insider Transactions at Incyte

In other Incyte news, insider Pablo J. Cagnoni sold 18,667 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $96.50, for a total transaction of $1,801,365.50. Following the transaction, the insider owned 262,692 shares of the company’s stock, valued at $25,349,778. The trade was a 6.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 16.20% of the company’s stock.

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.