Swiss National Bank Sells 14,400 Shares of Incyte Co. (NASDAQ:INCY)

Swiss National Bank lessened its holdings in Incyte Co. (NASDAQ:INCY) by 2.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 595,600 shares of the biopharmaceutical company’s stock after selling 14,400 shares during the period. Swiss National Bank’s holdings in Incyte were worth $37,398,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in INCY. Commonwealth Equity Services LLC grew its stake in shares of Incyte by 12.3% in the third quarter. Commonwealth Equity Services LLC now owns 20,009 shares of the biopharmaceutical company’s stock valued at $1,156,000 after buying an additional 2,197 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Incyte by 100.4% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 25,097 shares of the biopharmaceutical company’s stock worth $1,450,000 after purchasing an additional 12,576 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Incyte by 95.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 250,077 shares of the biopharmaceutical company’s stock valued at $14,447,000 after purchasing an additional 122,045 shares during the period. Mackenzie Financial Corp lifted its stake in Incyte by 10.7% in the 3rd quarter. Mackenzie Financial Corp now owns 328,211 shares of the biopharmaceutical company’s stock valued at $19,220,000 after purchasing an additional 31,750 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Incyte by 4.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 55,708 shares of the biopharmaceutical company’s stock worth $3,218,000 after purchasing an additional 2,554 shares during the period. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Stock Performance

NASDAQ:INCY opened at $54.37 on Wednesday. The company has a market capitalization of $12.21 billion, a PE ratio of 16.48, a P/E/G ratio of 1.35 and a beta of 0.69. Incyte Co. has a fifty-two week low of $50.27 and a fifty-two week high of $67.36. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.43 and a current ratio of 3.47. The company has a 50 day simple moving average of $55.83 and a two-hundred day simple moving average of $57.54.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, February 13th. The biopharmaceutical company reported $1.06 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $1 billion. During the same period in the prior year, the business earned $0.44 EPS. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. Research analysts anticipate that Incyte Co. will post 3.54 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Oppenheimer decreased their price target on shares of Incyte from $92.00 to $84.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 24th. TD Cowen dropped their price target on shares of Incyte from $88.00 to $80.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Citigroup lowered their price objective on Incyte from $82.00 to $81.00 and set a “buy” rating on the stock in a research note on Wednesday, February 14th. Truist Financial reiterated a “buy” rating and set a $83.00 target price (down from $84.00) on shares of Incyte in a research report on Wednesday, May 1st. Finally, William Blair reaffirmed an “outperform” rating on shares of Incyte in a research report on Tuesday, February 6th. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $74.93.

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.