Incyte Corporation $INCY Shares Sold by Swiss National Bank

Swiss National Bank reduced its position in Incyte Corporation (NASDAQ:INCY) by 4.8% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 474,174 shares of the biopharmaceutical company’s stock after selling 23,700 shares during the quarter. Swiss National Bank owned about 0.24% of Incyte worth $40,215,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Harbor Capital Advisors Inc. acquired a new position in shares of Incyte during the third quarter worth about $26,000. Root Financial Partners LLC acquired a new position in Incyte during the 3rd quarter worth approximately $28,000. Quent Capital LLC purchased a new position in shares of Incyte during the 3rd quarter worth approximately $30,000. MUFG Securities EMEA plc acquired a new stake in shares of Incyte in the 2nd quarter valued at approximately $32,000. Finally, CYBER HORNET ETFs LLC purchased a new stake in shares of Incyte in the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insiders Place Their Bets

In related news, insider Thomas Tray sold 2,774 shares of the stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $100.00, for a total transaction of $277,400.00. Following the transaction, the insider directly owned 22,973 shares in the company, valued at approximately $2,297,300. This represents a 10.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael James Morrissey sold 54,008 shares of Incyte stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $97.29, for a total value of $5,254,438.32. Following the completion of the sale, the executive vice president owned 31,830 shares of the company’s stock, valued at $3,096,740.70. This trade represents a 62.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 72,561 shares of company stock valued at $7,195,307 in the last quarter. 17.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Piper Sandler raised their target price on Incyte from $102.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, February 6th. Royal Bank Of Canada reduced their price objective on shares of Incyte from $95.00 to $92.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 11th. Mizuho set a $121.00 target price on shares of Incyte and gave the stock an “outperform” rating in a research report on Monday, December 8th. Weiss Ratings upgraded shares of Incyte from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. Finally, HC Wainwright restated a “buy” rating and issued a $135.00 price target on shares of Incyte in a report on Monday. Ten equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $104.00.

Incyte Trading Up 0.4%

NASDAQ:INCY traded up $0.34 on Friday, reaching $92.37. The stock had a trading volume of 208,280 shares, compared to its average volume of 1,894,798. Incyte Corporation has a 12-month low of $53.56 and a 12-month high of $112.29. The company has a market cap of $18.38 billion, a price-to-earnings ratio of 14.41, a P/E/G ratio of 0.75 and a beta of 0.84. The firm’s fifty day moving average is $101.96 and its two-hundred day moving average is $96.42. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.32 and a quick ratio of 3.25.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, February 10th. The biopharmaceutical company reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.16). Incyte had a net margin of 25.03% and a return on equity of 26.34%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same period in the prior year, the firm earned $1.43 EPS. The business’s quarterly revenue was up 27.8% on a year-over-year basis. Equities analysts expect that Incyte Corporation will post 4.86 EPS for the current fiscal year.

Incyte Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.