Lansforsakringar Fondforvaltning AB publ Invests $3.92 Million in Incyte Co. (NASDAQ:INCY)

Lansforsakringar Fondforvaltning AB publ bought a new position in Incyte Co. (NASDAQ:INCY - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 56,738 shares of the biopharmaceutical company's stock, valued at approximately $3,919,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of INCY. Quintet Private Bank Europe S.A. purchased a new position in shares of Incyte during the fourth quarter valued at $26,000. Global X Japan Co. Ltd. grew its stake in Incyte by 144.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company's stock valued at $27,000 after purchasing an additional 230 shares during the last quarter. R Squared Ltd purchased a new position in Incyte in the fourth quarter valued at about $30,000. Raiffeisen Bank International AG purchased a new position in Incyte in the fourth quarter valued at about $34,000. Finally, Blue Trust Inc. grew its stake in Incyte by 124.6% in the fourth quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company's stock valued at $39,000 after purchasing an additional 329 shares during the last quarter. Hedge funds and other institutional investors own 96.97% of the company's stock.

Incyte Stock Performance

Shares of Incyte stock traded down $0.79 on Friday, reaching $65.25. 3,737,618 shares of the stock were exchanged, compared to its average volume of 2,300,511. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. Incyte Co. has a twelve month low of $53.56 and a twelve month high of $83.95. The firm has a market capitalization of $12.63 billion, a price-to-earnings ratio of 241.68, a PEG ratio of 0.41 and a beta of 0.68. The business has a 50 day moving average price of $60.80 and a two-hundred day moving average price of $67.52.

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

Analysts Set New Price Targets

INCY has been the topic of several analyst reports. Wall Street Zen upgraded Incyte from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, April 30th. Morgan Stanley cut their target price on Incyte from $69.00 to $65.00 and set an "equal weight" rating on the stock in a research note on Monday, March 24th. Guggenheim lowered Incyte from a "buy" rating to a "neutral" rating and set a $92.00 target price on the stock. in a research note on Tuesday, March 18th. Stifel Nicolaus raised their price target on Incyte from $75.00 to $77.00 and gave the stock a "hold" rating in a report on Monday, February 10th. Finally, JMP Securities reissued a "market perform" rating on shares of Incyte in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Incyte has a consensus rating of "Hold" and a consensus price target of $73.60.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 19,807 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $67.69, for a total value of $1,340,735.83. Following the completion of the transaction, the executive vice president now directly owns 33,567 shares of the company's stock, valued at approximately $2,272,150.23. The trade was a 37.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Sheila A. Denton sold 599 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total value of $41,924.01. Following the completion of the transaction, the executive vice president now directly owns 25,848 shares of the company's stock, valued at $1,809,101.52. The trade was a 2.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.80% of the stock is currently owned by corporate insiders.

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.