646,168 Shares in Incyte Corporation $INCY Bought by SEB Asset Management AB

SEB Asset Management AB acquired a new stake in shares of Incyte Corporation (NASDAQ:INCY) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 646,168 shares of the biopharmaceutical company’s stock, valued at approximately $60,817,000.

A number of other institutional investors also recently bought and sold shares of the company. Swiss National Bank grew its stake in shares of Incyte by 7.7% during the 1st quarter. Swiss National Bank now owns 489,774 shares of the biopharmaceutical company’s stock valued at $46,098,000 after purchasing an additional 34,900 shares during the period. Mediolanum International Funds Ltd increased its position in shares of Incyte by 25.4% during the 1st quarter. Mediolanum International Funds Ltd now owns 60,300 shares of the biopharmaceutical company’s stock valued at $5,447,000 after purchasing an additional 12,227 shares during the last quarter. Dorsey Wright & Associates bought a new position in shares of Incyte in the 1st quarter worth approximately $1,199,000. California Public Employees Retirement System lifted its stake in shares of Incyte by 0.7% in the 1st quarter. California Public Employees Retirement System now owns 483,336 shares of the biopharmaceutical company’s stock worth $45,492,000 after purchasing an additional 3,155 shares during the period. Finally, Assetmark Inc. boosted its holdings in shares of Incyte by 121.8% in the first quarter. Assetmark Inc. now owns 42,597 shares of the biopharmaceutical company’s stock worth $4,009,000 after buying an additional 23,395 shares during the last quarter. Institutional investors own 96.97% of the company’s stock.

Incyte Stock Up 0.5%

INCY stock opened at $117.25 on Friday. The business’s 50-day moving average price is $104.99 and its 200-day moving average price is $101.03. The stock has a market cap of $23.42 billion, a P/E ratio of 16.56, a PEG ratio of 1.06 and a beta of 0.76. 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 Corporation has a twelve month low of $67.17 and a twelve month high of $119.60.

Incyte (NASDAQ:INCY) last released its 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. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the firm posted $1.16 EPS. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. On average, equities research analysts forecast that Incyte Corporation will post 6.61 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on INCY shares. Citigroup restated a “market perform” rating on shares of Incyte in a research report on Wednesday. BMO Capital Markets lifted their price target on shares of Incyte from $94.00 to $112.00 and gave the stock a “market perform” rating in a research note on Monday, July 13th. Oppenheimer reissued a “market perform” rating and set a $107.00 price objective on shares of Incyte in a research report on Monday, June 8th. Sanford C. Bernstein assumed coverage on shares of Incyte in a research report on Thursday, May 21st. They set a “market perform” rating and a $99.00 price objective for the company. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Incyte in a research note on Monday, June 29th. Eight research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Incyte presently has a consensus rating of “Hold” and an average price target of $109.95.

About Incyte

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.