Incyte Co. (NASDAQ:INCY) Shares Bought by Swiss National Bank

Swiss National Bank raised its position in Incyte Co. (NASDAQ:INCY) by 0.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 483,274 shares of the biopharmaceutical company’s stock after purchasing an additional 4,500 shares during the quarter. Swiss National Bank’s holdings in Incyte were worth $31,944,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Haverford Trust Co raised its position in Incyte by 1.8% in the third quarter. Haverford Trust Co now owns 7,796 shares of the biopharmaceutical company’s stock valued at $515,000 after purchasing an additional 135 shares during the period. V Square Quantitative Management LLC boosted its holdings in Incyte by 4.1% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,963 shares of the biopharmaceutical company’s stock worth $262,000 after acquiring an additional 155 shares during the period. Deseret Mutual Benefit Administrators grew its position in Incyte by 37.1% in the second quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 164 shares in the last quarter. Moody National Bank Trust Division grew its position in Incyte by 1.3% in the second quarter. Moody National Bank Trust Division now owns 14,199 shares of the biopharmaceutical company’s stock valued at $861,000 after acquiring an additional 179 shares in the last quarter. Finally, Ballentine Partners LLC lifted its position in shares of Incyte by 4.0% during the second quarter. Ballentine Partners LLC now owns 4,727 shares of the biopharmaceutical company’s stock worth $287,000 after purchasing an additional 182 shares in the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

Incyte Stock Performance

Shares of INCY opened at $71.05 on Thursday. Incyte Co. has a 52-week low of $50.35 and a 52-week high of $83.95. The firm has a market capitalization of $13.69 billion, a PE ratio of 507.54, a P/E/G ratio of 8.75 and a beta of 0.71. The firm has a 50-day moving average price of $69.59 and a 200 day moving average price of $64.24. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. Incyte’s revenue was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 EPS. On average, sell-side analysts anticipate that Incyte Co. will post 0.4 earnings per share for the current fiscal year.

Insider Transactions at Incyte

In related news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $62.36, for a total value of $526,942.00. Following the sale, the executive vice president now directly owns 36,390 shares in the company, valued at $2,269,280.40. The trade was a 18.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Barry P. Flannelly sold 3,680 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total transaction of $293,222.40. Following the sale, the executive vice president now owns 58,042 shares of the company’s stock, valued at $4,624,786.56. The trade was a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,702 shares of company stock valued at $856,166. Corporate insiders own 17.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Incyte from $62.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. William Blair reissued an “outperform” rating on shares of Incyte in a report on Monday, September 9th. JPMorgan Chase & Co. lifted their price objective on Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. The Goldman Sachs Group increased their target price on Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, BMO Capital Markets restated an “underperform” rating and issued a $52.00 price target (up previously from $48.00) on shares of Incyte in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $77.16.

Incyte Profile

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.