Swiss National Bank Cuts Stake in Incyte Co. (NASDAQ:INCY)

Swiss National Bank cut its holdings in Incyte Co. (NASDAQ:INCY - Free Report) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 595,600 shares of the biopharmaceutical company's stock after selling 14,400 shares during the quarter. Swiss National Bank owned about 0.27% of Incyte worth $37,398,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in INCY. Fisher Asset Management LLC lifted its stake in shares of Incyte by 0.4% in the 4th quarter. Fisher Asset Management LLC now owns 44,169 shares of the biopharmaceutical company's stock valued at $2,773,000 after purchasing an additional 187 shares during the last quarter. Allworth Financial LP boosted its stake in shares of Incyte by 40.0% during the 4th quarter. Allworth Financial LP now owns 802 shares of the biopharmaceutical company's stock worth $50,000 after acquiring an additional 229 shares in the last quarter. Grandfield & Dodd LLC increased its holdings in shares of Incyte by 1.8% during the 4th quarter. Grandfield & Dodd LLC now owns 18,390 shares of the biopharmaceutical company's stock valued at $1,155,000 after acquiring an additional 319 shares during the last quarter. MQS Management LLC raised its stake in shares of Incyte by 6.2% in the 3rd quarter. MQS Management LLC now owns 5,581 shares of the biopharmaceutical company's stock valued at $322,000 after acquiring an additional 327 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its position in Incyte by 0.4% during the third quarter. Treasurer of the State of North Carolina now owns 89,217 shares of the biopharmaceutical company's stock worth $5,154,000 after purchasing an additional 335 shares during the period. 96.97% of the stock is owned by institutional investors.

Incyte Price Performance

Shares of NASDAQ INCY traded down $0.86 during mid-day trading on Wednesday, hitting $53.51. 2,208,628 shares of the stock were exchanged, compared to its average volume of 1,804,396. The company has a market cap of $12.02 billion, a P/E ratio of 16.22, a PEG ratio of 1.35 and a beta of 0.69. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.43 and a current ratio of 3.47. Incyte Co. has a twelve month low of $50.27 and a twelve month high of $67.36. The stock's fifty day simple moving average is $55.83 and its two-hundred day simple moving average is $57.54.

Incyte (NASDAQ:INCY - Get Free Report) last posted its quarterly earnings data on Tuesday, February 13th. The biopharmaceutical company reported $1.06 EPS for the quarter, missing analysts' consensus estimates of $1.15 by ($0.09). Incyte had a return on equity of 12.83% and a net margin of 19.78%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. During the same period in the prior year, the firm posted $0.44 EPS. Incyte's revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, analysts forecast that Incyte Co. will post 3.54 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on INCY shares. Jefferies Financial Group assumed coverage on shares of Incyte in a research note on Friday, February 23rd. They issued a "buy" rating and a $81.00 price objective for the company. TD Cowen dropped their price objective on Incyte from $88.00 to $80.00 and set a "buy" rating on the stock in a research note on Wednesday, May 1st. Oppenheimer dropped their price target on Incyte from $92.00 to $84.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 24th. Royal Bank of Canada reissued a "sector perform" rating and issued a $65.00 price objective on shares of Incyte in a research report on Monday, March 25th. Finally, StockNews.com cut shares of Incyte from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 2nd. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $74.93.

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.