Swedbank AB Makes New Investment in Incyte Co. (NASDAQ:INCY)

Swedbank AB purchased a new position in shares of Incyte Co. (NASDAQ:INCY) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 657,193 shares of the biopharmaceutical company’s stock, valued at approximately $37,440,000. Swedbank AB owned about 0.29% of Incyte as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Fisher Asset Management LLC increased its holdings in shares of Incyte by 0.4% during the 4th quarter. Fisher Asset Management LLC now owns 44,169 shares of the biopharmaceutical company’s stock worth $2,773,000 after acquiring an additional 187 shares during the last quarter. 180 Wealth Advisors LLC lifted its position in shares of Incyte by 4.5% during the 1st quarter. 180 Wealth Advisors LLC now owns 4,764 shares of the biopharmaceutical company’s stock worth $271,000 after buying an additional 204 shares during the last quarter. Berger Financial Group Inc lifted its position in shares of Incyte by 0.4% during the 4th quarter. Berger Financial Group Inc now owns 60,468 shares of the biopharmaceutical company’s stock worth $3,797,000 after buying an additional 212 shares during the last quarter. Allworth Financial LP increased its holdings in Incyte by 40.0% in the 4th quarter. Allworth Financial LP now owns 802 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 229 shares in the last quarter. Finally, Empirical Finance LLC increased its holdings in Incyte by 3.7% in the 1st quarter. Empirical Finance LLC now owns 6,395 shares of the biopharmaceutical company’s stock worth $364,000 after purchasing an additional 230 shares in the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft upped their target price on Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a report on Thursday. StockNews.com cut Incyte from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. Citigroup upped their target price on Incyte from $80.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday. TD Cowen lowered their target price on Incyte from $88.00 to $80.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Finally, Royal Bank of Canada increased their price target on Incyte from $61.00 to $66.00 and gave the company a “sector perform” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $73.24.

Insider Transactions at Incyte

In other news, insider Thomas Tray sold 1,093 shares of the company’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $58.91, for a total value of $64,388.63. Following the completion of the transaction, the insider now directly owns 21,634 shares in the company, valued at approximately $1,274,458.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Thomas Tray sold 1,093 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $58.91, for a total transaction of $64,388.63. Following the completion of the sale, the insider now directly owns 21,634 shares in the company, valued at approximately $1,274,458.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Vijay K. Iyengar sold 15,571 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $70.00, for a total value of $1,089,970.00. Following the sale, the executive vice president now owns 36,701 shares of the company’s stock, valued at $2,569,070. The disclosure for this sale can be found here. In the last three months, insiders sold 45,282 shares of company stock worth $2,876,911. 17.50% of the stock is currently owned by corporate insiders.

Incyte Price Performance

Incyte stock opened at $64.47 on Friday. Incyte Co. has a 52 week low of $50.27 and a 52 week high of $70.36. The business has a 50-day simple moving average of $61.88 and a 200 day simple moving average of $58.81. The company has a quick ratio of 3.43, a current ratio of 1.92 and a debt-to-equity ratio of 0.01. The stock has a market cap of $12.42 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 1.14 and a beta of 0.73.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). Incyte had a return on equity of 0.75% and a net margin of 2.52%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the company posted $0.77 earnings per share. Incyte’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, research analysts forecast that Incyte Co. will post 3.35 earnings per share for the current fiscal year.

About Incyte

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.