Tredje AP fonden Increases Stake in Incyte Corporation $INCY

Tredje AP fonden lifted its stake in shares of Incyte Corporation (NASDAQ:INCY) by 16.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,302 shares of the biopharmaceutical company’s stock after buying an additional 2,457 shares during the quarter. Tredje AP fonden’s holdings in Incyte were worth $1,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Incyte by 2.1% during the first quarter. Vanguard Group Inc. now owns 19,997,823 shares of the biopharmaceutical company’s stock worth $1,210,868,000 after acquiring an additional 417,346 shares in the last quarter. AQR Capital Management LLC boosted its stake in Incyte by 92.3% during the first quarter. AQR Capital Management LLC now owns 6,736,169 shares of the biopharmaceutical company’s stock worth $405,787,000 after acquiring an additional 3,233,356 shares in the last quarter. LSV Asset Management boosted its stake in Incyte by 4.9% during the first quarter. LSV Asset Management now owns 3,637,974 shares of the biopharmaceutical company’s stock worth $220,279,000 after acquiring an additional 170,484 shares in the last quarter. Invesco Ltd. boosted its stake in Incyte by 4.0% during the first quarter. Invesco Ltd. now owns 3,168,750 shares of the biopharmaceutical company’s stock worth $191,868,000 after acquiring an additional 120,543 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in Incyte by 65.6% during the first quarter. Acadian Asset Management LLC now owns 2,511,872 shares of the biopharmaceutical company’s stock worth $152,062,000 after acquiring an additional 994,609 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Truist Financial reissued a “hold” rating and set a $93.00 price objective (up previously from $79.00) on shares of Incyte in a research note on Wednesday, October 29th. Guggenheim raised shares of Incyte from a “neutral” rating to a “buy” rating and set a $125.00 price objective on the stock in a research note on Monday. Stifel Nicolaus boosted their price objective on shares of Incyte from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. BMO Capital Markets reiterated an “underperform” rating and issued a $60.00 target price (up previously from $52.00) on shares of Incyte in a research note on Wednesday, July 30th. Finally, Citigroup upped their target price on shares of Incyte from $88.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $92.00.

Incyte Stock Up 8.7%

Shares of Incyte stock opened at $101.57 on Tuesday. The company has a market cap of $19.94 billion, a price-to-earnings ratio of 17.01, a price-to-earnings-growth ratio of 0.70 and a beta of 0.73. The company’s 50 day moving average is $86.64 and its 200 day moving average is $75.28. Incyte Corporation has a twelve month low of $53.56 and a twelve month high of $101.79. The company has a quick ratio of 2.78, a current ratio of 3.20 and a debt-to-equity ratio of 0.01.

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.