Fjarde AP Fonden Fourth Swedish National Pension Fund Purchases 25,800 Shares of Incyte Corporation $INCY

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in Incyte Corporation (NASDAQ:INCY) by 27.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 121,364 shares of the biopharmaceutical company’s stock after purchasing an additional 25,800 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund owned about 0.06% of Incyte worth $8,265,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Incyte by 10.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,026 shares of the biopharmaceutical company’s stock worth $1,577,000 after buying an additional 2,559 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Incyte by 5.8% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 473,186 shares of the biopharmaceutical company’s stock valued at $28,651,000 after acquiring an additional 25,844 shares during the last quarter. Amalgamated Bank lifted its holdings in Incyte by 1.9% during the first quarter. Amalgamated Bank now owns 31,551 shares of the biopharmaceutical company’s stock worth $1,910,000 after acquiring an additional 591 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Incyte by 1.9% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 23,829 shares of the biopharmaceutical company’s stock worth $1,443,000 after purchasing an additional 449 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Incyte by 0.7% in the first quarter. Principal Financial Group Inc. now owns 213,947 shares of the biopharmaceutical company’s stock worth $12,954,000 after purchasing an additional 1,419 shares during the last quarter. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Incyte Price Performance

Shares of NASDAQ:INCY opened at $90.18 on Thursday. The company has a quick ratio of 2.78, a current ratio of 3.13 and a debt-to-equity ratio of 0.01. The stock has a market cap of $17.61 billion, a PE ratio of 15.11, a PEG ratio of 0.71 and a beta of 0.73. The company’s fifty day moving average is $86.01 and its 200 day moving average is $74.37. Incyte Corporation has a 52 week low of $53.56 and a 52 week high of $94.42.

Analysts Set New Price Targets

A number of brokerages recently weighed in on INCY. Stifel Nicolaus boosted their price target on shares of Incyte from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Oppenheimer cut shares of Incyte from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 8th. Royal Bank Of Canada increased their target price on shares of Incyte from $81.00 to $84.00 and gave the company a “sector perform” rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of Incyte from $73.00 to $89.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. Finally, Bank of America upped their price objective on Incyte from $90.00 to $104.00 and gave the company a “buy” rating in a research note on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Incyte presently has an average rating of “Hold” and a consensus price target of $89.25.

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.