Incyte Corporation $INCY Shares Acquired by Tredje AP fonden

Tredje AP fonden boosted its stake in Incyte Corporation (NASDAQ:INCY) by 194.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,820 shares of the biopharmaceutical company’s stock after buying an additional 34,887 shares during the period. Tredje AP fonden’s holdings in Incyte were worth $5,217,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Root Financial Partners LLC purchased a new position in shares of Incyte in the third quarter worth approximately $28,000. Elyxium Wealth LLC acquired a new position in Incyte in the 4th quarter worth about $28,000. MUFG Securities EMEA plc purchased a new stake in shares of Incyte during the 2nd quarter worth about $32,000. CYBER HORNET ETFs LLC acquired a new stake in shares of Incyte during the 2nd quarter valued at about $33,000. Finally, Atlantic Union Bankshares Corp bought a new stake in shares of Incyte in the 3rd quarter valued at approximately $42,000. Institutional investors own 96.97% of the company’s stock.

Insider Activity

In other news, insider Pablo J. Cagnoni sold 18,667 shares of Incyte stock in a transaction on Friday, April 17th. The stock was sold at an average price of $96.50, for a total value of $1,801,365.50. Following the transaction, the insider owned 262,692 shares in the company, valued at approximately $25,349,778. This trade represents a 6.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Barclays reiterated an “overweight” rating on shares of Incyte in a report on Tuesday, March 24th. UBS Group cut their price objective on Incyte from $104.00 to $94.00 and set a “neutral” rating for the company in a research report on Wednesday, March 25th. HC Wainwright reaffirmed a “buy” rating and issued a $135.00 target price on shares of Incyte in a report on Monday, May 4th. Morgan Stanley set a $102.00 target price on shares of Incyte in a research note on Wednesday, February 11th. Finally, Jefferies Financial Group lowered Incyte from a “buy” rating to a “hold” rating and decreased their price target for the company from $120.00 to $94.00 in a research note on Monday, March 16th. Ten investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $104.26.

Incyte Stock Performance

Shares of INCY stock opened at $95.60 on Wednesday. The firm has a market cap of $19.10 billion, a PE ratio of 13.50, a P/E/G ratio of 0.91 and a beta of 0.79. Incyte Corporation has a 12 month low of $63.51 and a 12 month high of $112.29. The company’s fifty day simple moving average is $95.33 and its 200-day simple moving average is $99.60. The company has a quick ratio of 3.60, a current ratio of 3.68 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, topping the consensus estimate of $1.38 by $0.43. The firm 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 company’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.16 EPS. Equities research analysts expect that Incyte Corporation will post 6.74 EPS 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.