Incyte Co. (NASDAQ:INCY) Shares Purchased by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Incyte Co. (NASDAQ:INCY) by 157.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 772 shares of the biopharmaceutical company’s stock after acquiring an additional 472 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Incyte were worth $48,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Daiwa Securities Group Inc. boosted its stake in Incyte by 12.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 23,064 shares of the biopharmaceutical company’s stock valued at $1,448,000 after acquiring an additional 2,599 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Incyte by 34.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 335,735 shares of the biopharmaceutical company’s stock valued at $21,081,000 after buying an additional 85,658 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of Incyte by 13.9% in the fourth quarter. Mackenzie Financial Corp now owns 373,789 shares of the biopharmaceutical company’s stock valued at $23,470,000 after buying an additional 45,578 shares during the last quarter. Cornercap Investment Counsel Inc. purchased a new stake in shares of Incyte in the fourth quarter valued at about $995,000. Finally, Vontobel Holding Ltd. raised its holdings in shares of Incyte by 2.2% in the fourth quarter. Vontobel Holding Ltd. now owns 17,045 shares of the biopharmaceutical company’s stock valued at $1,070,000 after buying an additional 361 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Trading Down 0.9 %

Shares of INCY opened at $52.35 on Friday. The company has a current ratio of 3.55, a quick ratio of 3.36 and a debt-to-equity ratio of 0.01. The firm’s 50-day moving average is $57.46 and its two-hundred day moving average is $57.92. Incyte Co. has a twelve month low of $50.27 and a twelve month high of $75.74. The firm has a market capitalization of $11.75 billion, a P/E ratio of 19.75, a PEG ratio of 1.22 and a beta of 0.65.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.09). Incyte had a return on equity of 12.56% and a net margin of 16.17%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. During the same quarter in the previous year, the company posted $0.44 earnings per share. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, research analysts predict that Incyte Co. will post 3.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Incyte in a report on Friday, February 23rd. They issued a “buy” rating and a $81.00 target price for the company. BMO Capital Markets upped their target price on shares of Incyte from $58.00 to $64.00 and gave the company a “market perform” rating in a report on Wednesday, February 14th. Bank of America reduced their target price on shares of Incyte from $69.00 to $67.00 and set a “neutral” rating for the company in a report on Wednesday, March 13th. JMP Securities cut shares of Incyte from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 14th. Finally, Stifel Nicolaus increased their price target on shares of Incyte from $67.00 to $68.00 and gave the stock a “hold” rating in a report on Wednesday, February 14th. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Incyte presently has a consensus rating of “Moderate Buy” and an average target price of $76.07.

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.