Incyte Co. (NASDAQ:INCY) Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its position in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 17.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,900 shares of the biopharmaceutical company's stock after acquiring an additional 7,300 shares during the quarter. Handelsbanken Fonder AB's holdings in Incyte were worth $3,021,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Quintet Private Bank Europe S.A. purchased a new position in Incyte in the 4th quarter worth approximately $26,000. Raiffeisen Bank International AG purchased a new position in Incyte in the 4th quarter worth approximately $34,000. Bradley & Co. Private Wealth Management LLC purchased a new position in Incyte in the 4th quarter worth approximately $42,000. NBC Securities Inc. lifted its stake in Incyte by 88,200.0% in the 1st quarter. NBC Securities Inc. now owns 883 shares of the biopharmaceutical company's stock worth $53,000 after purchasing an additional 882 shares in the last quarter. Finally, Huntington National Bank increased its holdings in shares of Incyte by 40.7% during the 4th quarter. Huntington National Bank now owns 934 shares of the biopharmaceutical company's stock worth $65,000 after buying an additional 270 shares during the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Stock Performance

NASDAQ INCY traded down $1.47 during trading on Friday, reaching $67.75. The company's stock had a trading volume of 1,834,959 shares, compared to its average volume of 2,074,764. Incyte Co. has a twelve month low of $53.56 and a twelve month high of $83.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. The business's fifty day moving average price is $62.30 and its 200-day moving average price is $67.03. The firm has a market cap of $13.11 billion, a price-to-earnings ratio of 250.94, a P/E/G ratio of 0.41 and a beta of 0.67.

Incyte (NASDAQ:INCY - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.15. Incyte had a net margin of 0.77% and a return on equity of 0.05%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $996.17 million. During the same period in the previous year, the business posted $0.64 earnings per share. The business's revenue was up 19.5% compared to the same quarter last year. As a group, analysts anticipate that Incyte Co. will post 4.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on INCY shares. JPMorgan Chase & Co. cut their price target on shares of Incyte from $70.00 to $68.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Citigroup restated a "buy" rating on shares of Incyte in a report on Tuesday, June 3rd. William Blair downgraded shares of Incyte from an "outperform" rating to a "market perform" rating in a report on Tuesday, March 18th. UBS Group restated a "neutral" rating and set a $61.00 price target on shares of Incyte in a report on Tuesday, June 3rd. Finally, Guggenheim downgraded shares of Incyte from a "buy" rating to a "neutral" rating and set a $92.00 target price for the company. in a report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $72.53.

Incyte Company 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.