Livforsakringsbolaget Skandia Omsesidigt Buys 472 Shares of Incyte Co. (NASDAQ:INCY)

Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Incyte Co. (NASDAQ:INCY) by 157.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 772 shares of the biopharmaceutical company’s stock after acquiring an additional 472 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Incyte were worth $48,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Clear Street Markets LLC lifted its holdings in shares of Incyte by 93.6% during the 1st quarter. Clear Street Markets LLC now owns 362 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 175 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Incyte by 91.0% during the 1st quarter. Parkside Financial Bank & Trust now owns 447 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 213 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Incyte during the 4th quarter valued at $31,000. Salem Investment Counselors Inc. lifted its holdings in shares of Incyte by 1,458.0% during the 2nd quarter. Salem Investment Counselors Inc. now owns 779 shares of the biopharmaceutical company’s stock valued at $59,000 after purchasing an additional 729 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of Incyte by 40.0% during the 4th quarter. Allworth Financial LP now owns 802 shares of the biopharmaceutical company’s stock valued at $50,000 after purchasing an additional 229 shares during the last quarter. Institutional investors own 96.97% of the company’s stock.

Analyst Ratings Changes

INCY has been the subject of several analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $65.00 price objective on shares of Incyte in a report on Monday, March 25th. Bank of America decreased their price objective on Incyte from $69.00 to $67.00 and set a “neutral” rating for the company in a report on Wednesday, March 13th. William Blair reiterated an “outperform” rating on shares of Incyte in a report on Tuesday, February 6th. Truist Financial reduced their target price on Incyte from $91.00 to $84.00 and set a “buy” rating for the company in a research note on Wednesday, February 14th. Finally, BMO Capital Markets raised their target price on Incyte from $58.00 to $64.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 14th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $76.07.

Incyte Stock Performance

NASDAQ INCY opened at $52.35 on Friday. The stock has a 50-day simple moving average of $57.46 and a two-hundred day simple moving average of $57.92. The firm has a market capitalization of $11.75 billion, a P/E ratio of 19.75, a PEG ratio of 1.22 and a beta of 0.65. Incyte Co. has a fifty-two week low of $50.27 and a fifty-two week high of $75.74. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.36 and a current ratio of 3.55.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.09). The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. Incyte had a net margin of 16.17% and a return on equity of 12.56%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.44 EPS. On average, equities analysts forecast that Incyte Co. will post 3.85 earnings per share for the current year.

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.