Swiss National Bank Raises Stake in Incyte Co. (NASDAQ:INCY)

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. The fund owned 483,274 shares of the biopharmaceutical company’s stock after purchasing an additional 4,500 shares during the period. Swiss National Bank owned 0.25% of Incyte worth $31,944,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. MFA Wealth Advisors LLC acquired a new stake in Incyte in the second quarter valued at $26,000. Innealta Capital LLC purchased a new position in Incyte in the second quarter valued at approximately $32,000. Itau Unibanco Holding S.A. acquired a new stake in Incyte during the second quarter worth approximately $36,000. Deseret Mutual Benefit Administrators lifted its position in shares of Incyte by 37.1% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 164 shares during the last quarter. Finally, Cromwell Holdings LLC raised its stake in Incyte by 101.1% during the 3rd quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 283 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

INCY has been the topic of a number of research analyst reports. William Blair reiterated an “outperform” rating on shares of Incyte in a research report on Monday, September 9th. Oppenheimer increased their price objective on Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their target price on shares of Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Truist Financial restated a “hold” rating and issued a $74.00 price objective (down from $83.00) on shares of Incyte in a research note on Wednesday, September 18th. Finally, JMP Securities reissued a “market perform” rating on shares of Incyte in a report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $77.16.

Insider Activity at Incyte

In related news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.36, for a total transaction of $526,942.00. Following the transaction, the executive vice president now directly owns 36,390 shares in the company, valued at approximately $2,269,280.40. This represents a 18.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 completion of the sale, the executive vice president now directly owns 58,042 shares in the company, valued at $4,624,786.56. This represents 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. 17.60% of the stock is owned by corporate insiders.

Incyte Trading Up 0.7 %

Shares of INCY stock opened at $71.05 on Thursday. The stock has a market cap of $13.69 billion, a P/E ratio of 507.54, a P/E/G ratio of 8.75 and a beta of 0.71. 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 Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The business has a fifty day simple moving average of $69.59 and a 200-day simple moving average of $64.24.

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

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.