Incyte Co. (NASDAQ:INCY) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 34.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 335,735 shares of the biopharmaceutical company's stock after purchasing an additional 85,658 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.15% of Incyte worth $21,081,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ARK Investment Management LLC raised its stake in Incyte by 7.7% during the 4th quarter. ARK Investment Management LLC now owns 531,625 shares of the biopharmaceutical company's stock valued at $33,381,000 after purchasing an additional 37,932 shares during the period. State of Alaska Department of Revenue raised its stake in Incyte by 13.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 64,309 shares of the biopharmaceutical company's stock valued at $3,714,000 after purchasing an additional 7,695 shares during the period. Royal Bank of Canada grew its holdings in Incyte by 85.3% during the 3rd quarter. Royal Bank of Canada now owns 987,052 shares of the biopharmaceutical company's stock valued at $57,021,000 after buying an additional 454,416 shares in the last quarter. RFG Advisory LLC purchased a new position in Incyte during the 4th quarter valued at approximately $206,000. Finally, Raymond James & Associates purchased a new position in Incyte during the 4th quarter valued at approximately $2,291,000. Institutional investors own 96.97% of the company's stock.

Incyte Trading Up 0.2 %

INCY traded up $0.10 during trading hours on Thursday, reaching $52.82. 1,830,343 shares of the company's stock traded hands, compared to its average volume of 1,710,366. The firm has a 50-day moving average price of $57.65 and a 200 day moving average price of $57.99. Incyte Co. has a 52-week low of $50.27 and a 52-week high of $75.74. The company has a quick ratio of 3.36, a current ratio of 3.55 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $11.86 billion, a PE ratio of 19.93, a PEG ratio of 1.23 and a beta of 0.65.

Incyte (NASDAQ:INCY - Get Free Report) last posted its quarterly earnings data on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.15 by ($0.09). Incyte had a net margin of 16.17% and a return on equity of 12.56%. The business had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $1 billion. During the same quarter in the previous year, the firm earned $0.44 EPS. Incyte's revenue was up 9.3% compared to the same quarter last year. As a group, sell-side analysts predict that Incyte Co. will post 3.84 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on INCY. BMO Capital Markets raised their price target on Incyte from $58.00 to $64.00 and gave the company a "market perform" rating in a report on Wednesday, February 14th. Bank of America cut their price target on Incyte from $69.00 to $67.00 and set a "neutral" rating for the company in a report on Wednesday, March 13th. Citigroup cut their price target on Incyte from $82.00 to $81.00 and set a "buy" rating for the company in a report on Wednesday, February 14th. Truist Financial cut their price target on Incyte from $91.00 to $84.00 and set a "buy" rating for the company in a report on Wednesday, February 14th. Finally, Jefferies Financial Group initiated coverage on Incyte in a report on Friday, February 23rd. They set a "buy" rating and a $81.00 price target for the company. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $76.07.

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.