Andra AP fonden Boosts Stake in Incyte Corporation $INCY

Andra AP fonden lifted its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 24.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 460,600 shares of the biopharmaceutical company’s stock after buying an additional 89,800 shares during the period. Andra AP fonden owned approximately 0.23% of Incyte worth $39,063,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Bank of Nova Scotia grew its stake in shares of Incyte by 0.7% in the second quarter. Bank of Nova Scotia now owns 17,041 shares of the biopharmaceutical company’s stock worth $1,160,000 after acquiring an additional 124 shares during the period. MAI Capital Management grew its position in Incyte by 19.9% in the 2nd quarter. MAI Capital Management now owns 754 shares of the biopharmaceutical company’s stock worth $51,000 after purchasing an additional 125 shares during the period. Atlantic Edge Private Wealth Management LLC raised its stake in Incyte by 0.9% during the 3rd quarter. Atlantic Edge Private Wealth Management LLC now owns 14,556 shares of the biopharmaceutical company’s stock valued at $1,235,000 after buying an additional 125 shares during the last quarter. E Fund Management Co. Ltd. lifted its holdings in shares of Incyte by 0.8% during the 2nd quarter. E Fund Management Co. Ltd. now owns 19,912 shares of the biopharmaceutical company’s stock valued at $1,356,000 after buying an additional 158 shares during the period. Finally, Wealthfront Advisers LLC grew its holdings in shares of Incyte by 2.4% in the second quarter. Wealthfront Advisers LLC now owns 7,366 shares of the biopharmaceutical company’s stock worth $502,000 after acquiring an additional 171 shares during the period. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on INCY shares. Barclays increased their target price on Incyte from $116.00 to $117.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. Truist Financial set a $103.00 price objective on shares of Incyte in a report on Wednesday, December 24th. Guggenheim raised shares of Incyte from a “neutral” rating to a “buy” rating and set a $125.00 target price for the company in a report on Monday, November 3rd. Wells Fargo & Company dropped their price target on shares of Incyte from $107.00 to $101.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 11th. Finally, Mizuho set a $121.00 price objective on Incyte and gave the stock an “outperform” rating in a research note on Monday, December 8th. Nine equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $104.00.

Incyte Trading Up 0.1%

INCY stock opened at $100.09 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.32 and a quick ratio of 3.25. Incyte Corporation has a 1-year low of $53.56 and a 1-year high of $112.29. The business has a 50 day simple moving average of $102.55 and a two-hundred day simple moving average of $95.57. The company has a market capitalization of $19.92 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 0.80 and a beta of 0.82.

Incyte (NASDAQ:INCY) last released its earnings results 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 company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Incyte had a return on equity of 26.34% and a net margin of 25.03%.Incyte’s quarterly revenue was up 27.8% compared to the same quarter last year. During the same period last year, the firm posted $1.43 EPS. Research analysts anticipate that Incyte Corporation will post 4.86 EPS for the current fiscal year.

Insider Activity at Incyte

In other Incyte news, EVP Michael James Morrissey sold 54,008 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $97.29, for a total transaction of $5,254,438.32. Following the completion of the transaction, the executive vice president owned 31,830 shares in the company, valued at $3,096,740.70. This trade represents a 62.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Mohamed Khairie Issa sold 10,856 shares of the company’s stock in a transaction that occurred on 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 directly owned 66,132 shares in the company, valued at $7,213,017.24. This trade represents a 14.10% decrease in their ownership of the stock. 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 90 days. Company insiders own 17.80% 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.