Incyte Corporation $INCY Shares Acquired by Swiss National Bank

Swiss National Bank lifted its holdings in Incyte Corporation (NASDAQ:INCY) by 7.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 489,774 shares of the biopharmaceutical company’s stock after buying an additional 34,900 shares during the quarter. Swiss National Bank’s holdings in Incyte were worth $46,098,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in Incyte by 11.3% in the fourth quarter. Geode Capital Management LLC now owns 4,993,012 shares of the biopharmaceutical company’s stock valued at $491,500,000 after acquiring an additional 506,842 shares during the period. Invesco Ltd. increased its holdings in shares of Incyte by 13.2% in the 4th quarter. Invesco Ltd. now owns 3,473,781 shares of the biopharmaceutical company’s stock valued at $343,105,000 after purchasing an additional 405,611 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Incyte by 13.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,103,946 shares of the biopharmaceutical company’s stock valued at $263,246,000 after purchasing an additional 373,298 shares in the last quarter. Morgan Stanley lifted its stake in shares of Incyte by 0.9% in the fourth quarter. Morgan Stanley now owns 2,663,823 shares of the biopharmaceutical company’s stock valued at $263,106,000 after purchasing an additional 23,087 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of Incyte by 7.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,480,793 shares of the biopharmaceutical company’s stock valued at $245,028,000 after purchasing an additional 161,405 shares during the period. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Truist Financial boosted their price objective on shares of Incyte from $103.00 to $105.00 and gave the stock a “hold” rating in a report on Monday, June 22nd. Stifel Nicolaus set a $123.00 price objective on shares of Incyte in a research note on Tuesday, June 9th. HC Wainwright restated a “buy” rating and set a $140.00 target price on shares of Incyte in a report on Tuesday. BMO Capital Markets lifted their target price on shares of Incyte from $94.00 to $112.00 and gave the stock a “market perform” rating in a research report on Monday, July 13th. Finally, Citigroup reaffirmed a “market perform” rating on shares of Incyte in a report on Wednesday, July 15th. Eight research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $109.95.

Incyte Trading Down 1.4%

Incyte stock opened at $115.79 on Thursday. The stock has a 50-day moving average price of $106.00 and a 200 day moving average price of $101.41. Incyte Corporation has a 52 week low of $69.24 and a 52 week high of $119.60. The stock has a market cap of $23.13 billion, a PE ratio of 16.35, a P/E/G 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 released its quarterly earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.43. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period last year, the company earned $1.16 EPS. Equities research analysts predict that Incyte Corporation will post 6.61 earnings per share for the current fiscal year.

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.