Swiss National Bank Has $31.94 Million Position in Incyte Co. (NASDAQ:INCY)

Swiss National Bank lessened its holdings in shares of Incyte Co. (NASDAQ:INCY) by 4.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 462,474 shares of the biopharmaceutical company’s stock after selling 20,800 shares during the quarter. Swiss National Bank’s holdings in Incyte were worth $31,943,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in INCY. Quintet Private Bank Europe S.A. acquired a new stake in shares of Incyte in the 4th quarter valued at approximately $26,000. Global X Japan Co. Ltd. grew its holdings in Incyte by 144.7% during 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 period. Brooklyn Investment Group acquired a new stake in Incyte in the third quarter worth $30,000. R Squared Ltd acquired a new stake in Incyte in the fourth quarter worth $30,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Incyte during the third quarter worth $33,000. Institutional investors own 96.97% of the company’s stock.

Analysts Set New Price Targets

INCY has been the subject of a number of recent analyst reports. Royal Bank of Canada lowered their price objective on shares of Incyte from $70.00 to $68.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 11th. Citigroup lowered their price target on Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. William Blair reiterated an “outperform” rating on shares of Incyte in a report on Friday, December 13th. Stifel Nicolaus increased their target price on Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research note on Monday, February 10th. Finally, UBS Group initiated coverage on shares of Incyte in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $75.25.

Incyte Price Performance

Shares of NASDAQ INCY opened at $62.01 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. The business has a 50-day moving average of $71.55 and a 200-day moving average of $70.31. The stock has a market capitalization of $12.00 billion, a price-to-earnings ratio of 229.68, a PEG ratio of 0.41 and a beta of 0.76. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a net margin of 0.77% and a return on equity of 0.05%. As a group, sell-side analysts predict that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Incyte

In related news, EVP Steven H. Stein sold 12,352 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total value of $897,866.88. Following the completion of the transaction, the executive vice president now owns 66,967 shares of the company’s stock, valued at $4,867,831.23. This represents a 15.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Sheila A. Denton sold 14,069 shares of Incyte stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total value of $1,042,090.83. Following the sale, the executive vice president now directly owns 25,848 shares in the company, valued at $1,914,561.36. The trade was a 35.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,020 shares of company stock valued at $1,981,882 in the last ninety days. 17.60% 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.