Swiss National Bank Lowers Holdings in Incyte Co. (NASDAQ:INCY)

Swiss National Bank trimmed its position in Incyte Co. (NASDAQ:INCY) by 2.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 595,600 shares of the biopharmaceutical company’s stock after selling 14,400 shares during the quarter. Swiss National Bank owned 0.27% of Incyte worth $37,398,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in INCY. Pacer Advisors Inc. increased its position in Incyte by 2,858.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,025,784 shares of the biopharmaceutical company’s stock valued at $64,409,000 after purchasing an additional 991,110 shares during the period. Los Angeles Capital Management LLC boosted its position in Incyte by 585.8% during the third quarter. Los Angeles Capital Management LLC now owns 1,145,362 shares of the biopharmaceutical company’s stock valued at $66,168,000 after purchasing an additional 978,342 shares in the last quarter. Acadian Asset Management LLC grew its stake in Incyte by 56.6% in the third quarter. Acadian Asset Management LLC now owns 2,684,621 shares of the biopharmaceutical company’s stock valued at $155,053,000 after purchasing an additional 970,668 shares during the last quarter. Federated Hermes Inc. raised its holdings in Incyte by 145.2% in the third quarter. Federated Hermes Inc. now owns 864,710 shares of the biopharmaceutical company’s stock worth $49,954,000 after purchasing an additional 512,083 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in shares of Incyte by 85.3% during the third quarter. Royal Bank of Canada now owns 987,052 shares of the biopharmaceutical company’s stock valued at $57,021,000 after buying an additional 454,416 shares during the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Stock Up 0.5 %

Shares of NASDAQ INCY opened at $54.37 on Wednesday. The company has a market capitalization of $12.21 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 1.35 and a beta of 0.69. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.47 and a quick ratio of 3.43. Incyte Co. has a 1 year low of $50.27 and a 1 year high of $67.36. The business has a 50-day moving average of $55.83 and a two-hundred day moving average of $57.54.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.09). Incyte had a return on equity of 12.83% and a net margin of 19.78%. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same period in the previous year, the business posted $0.44 earnings per share. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, analysts forecast that Incyte Co. will post 3.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Oppenheimer reduced their price target on Incyte from $92.00 to $84.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 24th. Bank of America dropped their price target on Incyte from $69.00 to $67.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 13th. Citigroup decreased their price objective on shares of Incyte from $82.00 to $81.00 and set a “buy” rating for the company in a research report on Wednesday, February 14th. JMP Securities lowered shares of Incyte from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 14th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $65.00 price target on shares of Incyte in a research report on Monday, March 25th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.93.

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.