Handelsbanken Fonder AB Has $6.39 Million Stock Position in Incyte Co. (NASDAQ:INCY)

Handelsbanken Fonder AB decreased its stake in shares of Incyte Co. (NASDAQ:INCY) by 19.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 101,773 shares of the biopharmaceutical company’s stock after selling 23,976 shares during the quarter. Handelsbanken Fonder AB’s holdings in Incyte were worth $6,390,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. increased its holdings in shares of Incyte by 2,858.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,025,784 shares of the biopharmaceutical company’s stock worth $64,409,000 after acquiring an additional 991,110 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Incyte by 585.8% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,145,362 shares of the biopharmaceutical company’s stock worth $66,168,000 after acquiring an additional 978,342 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of Incyte by 56.6% during the 3rd quarter. Acadian Asset Management LLC now owns 2,684,621 shares of the biopharmaceutical company’s stock worth $155,053,000 after acquiring an additional 970,668 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of Incyte by 145.2% during the 3rd quarter. Federated Hermes Inc. now owns 864,710 shares of the biopharmaceutical company’s stock worth $49,954,000 after acquiring an additional 512,083 shares during the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of Incyte by 85.3% during the 3rd quarter. Royal Bank of Canada now owns 987,052 shares of the biopharmaceutical company’s stock worth $57,021,000 after acquiring an additional 454,416 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Stock Down 1.1 %

Shares of NASDAQ:INCY opened at $51.18 on Friday. Incyte Co. has a 52-week low of $50.27 and a 52-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. The business’s 50 day simple moving average is $56.90 and its two-hundred day simple moving average is $57.73. The firm has a market cap of $11.49 billion, a P/E ratio of 19.31, a PEG ratio of 1.20 and a beta of 0.65.

Incyte (NASDAQ:INCY) last posted its earnings results 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). Incyte had a net margin of 16.17% and a return on equity of 12.56%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the prior year, the business earned $0.44 EPS. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, research analysts forecast that Incyte Co. will post 3.85 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Stifel Nicolaus boosted their price target on Incyte from $67.00 to $68.00 and gave the company a “hold” rating in a research note on Wednesday, February 14th. Jefferies Financial Group began coverage on Incyte in a research note on Friday, February 23rd. They issued a “buy” rating and a $81.00 price target for the company. Bank of America cut their target price on Incyte from $69.00 to $67.00 and set a “neutral” rating for the company in a research report on Wednesday, March 13th. Truist Financial cut their target price on Incyte from $91.00 to $84.00 and set a “buy” rating for the company in a research report on Wednesday, February 14th. Finally, Cantor Fitzgerald began coverage on Incyte in a research report on Tuesday. They set a “neutral” rating for the company. Nine equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Incyte currently has a consensus rating of “Moderate Buy” and an average target price of $75.50.

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.