Andra AP fonden Has $24.38 Million Holdings in Incyte Corporation $INCY

Key Points

• Andra AP fonden cut its Incyte stake by 34.6% in the first quarter, selling 137,252 shares and ending with 259,048 shares worth about $24.38 million.
• Incyte reported strong quarterly results, with EPS of $1.81 beating estimates of $1.38 and revenue of $1.27 billion, up 20.9% year over year.
• Analysts are mixed on the stock: Barclays raised its target to $134 and rates it overweight, but the overall consensus remains Hold with a target price of about $109.95.

Andra AP fonden lessened its position in Incyte Corporation (NASDAQ:INCY - Free Report) by 34.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 259,048 shares of the biopharmaceutical company's stock after selling 137,252 shares during the quarter. Andra AP fonden owned about 0.13% of Incyte worth $24,382,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB boosted its stake in Incyte by 941.8% during the fourth quarter. Nordea Investment Management AB now owns 322,223 shares of the biopharmaceutical company's stock worth $31,874,000 after buying an additional 291,293 shares in the last quarter. Toth Financial Advisory Corp bought a new position in shares of Incyte during the 4th quarter worth about $1,213,000. Fairvoy Private Wealth LLC boosted its position in shares of Incyte by 468.8% during the 4th quarter. Fairvoy Private Wealth LLC now owns 30,169 shares of the biopharmaceutical company's stock valued at $2,980,000 after acquiring an additional 24,865 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Incyte by 627.8% during the 4th quarter. SG Americas Securities LLC now owns 186,790 shares of the biopharmaceutical company's stock valued at $18,449,000 after acquiring an additional 161,124 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Incyte by 11.5% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 210,097 shares of the biopharmaceutical company's stock valued at $20,719,000 after acquiring an additional 21,735 shares during the period. Institutional investors and hedge funds own 96.97% of the company's stock.

Incyte Stock Down 1.4%

Shares of NASDAQ:INCY opened at $115.65 on Tuesday. The company has a quick ratio of 3.60, a current ratio of 3.68 and a debt-to-equity ratio of 0.01. The firm has a market cap of $23.10 billion, a P/E ratio of 16.33, a P/E/G ratio of 1.06 and a beta of 0.76. Incyte Corporation has a 12 month low of $67.17 and a 12 month high of $119.60. The company's 50-day moving average price is $105.29 and its two-hundred day moving average price is $101.16.

Incyte (NASDAQ:INCY - Get Free Report) last announced its earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.38 by $0.43. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the business earned $1.16 earnings per share. Incyte's quarterly revenue was up 20.9% on a year-over-year basis. As a group, research analysts forecast that Incyte Corporation will post 6.61 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on INCY shares. Barclays lifted their price objective on Incyte from $117.00 to $134.00 and gave the company an "overweight" rating in a report on Tuesday, July 14th. Oppenheimer reiterated a "market perform" rating and issued a $107.00 price target on shares of Incyte in a research report on Monday, June 8th. Weiss Ratings reissued a "buy (b-)" rating on shares of Incyte in a report on Monday, June 29th. Sanford C. Bernstein started coverage on shares of Incyte in a report on Thursday, May 21st. They issued a "market perform" rating and a $99.00 target price on the stock. Finally, TD Cowen reissued a "hold" rating on shares of Incyte in a report on Tuesday, June 9th. Eight equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $109.95.

About Incyte

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.

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