Incyte Corporation $INCY Shares Bought by Nordea Investment Management AB

Nordea Investment Management AB grew its position in shares of Incyte Corporation (NASDAQ:INCY) by 3.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,276 shares of the biopharmaceutical company’s stock after purchasing an additional 490 shares during the period. Nordea Investment Management AB’s holdings in Incyte were worth $977,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Banque Transatlantique SA acquired a new position in Incyte during the first quarter worth $26,000. Hilltop National Bank acquired a new position in Incyte during the second quarter worth $37,000. SVB Wealth LLC acquired a new position in Incyte during the first quarter worth $39,000. Geneos Wealth Management Inc. lifted its stake in Incyte by 350.0% during the first quarter. Geneos Wealth Management Inc. now owns 756 shares of the biopharmaceutical company’s stock worth $46,000 after purchasing an additional 588 shares in the last quarter. Finally, WPG Advisers LLC acquired a new position in Incyte during the first quarter worth $47,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Stifel Nicolaus upped their price target on Incyte from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Monday, September 22nd. Truist Financial upped their price objective on Incyte from $73.00 to $79.00 and gave the stock a “hold” rating in a research report on Wednesday, July 30th. Citigroup upped their price objective on Incyte from $88.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, July 30th. Barclays initiated coverage on Incyte in a research report on Friday, August 1st. They set an “overweight” rating and a $90.00 price objective on the stock. Finally, BMO Capital Markets reaffirmed an “underperform” rating and set a $60.00 price objective (up previously from $52.00) on shares of Incyte in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $84.79.

Incyte Stock Performance

NASDAQ:INCY opened at $89.31 on Friday. The firm has a market capitalization of $17.44 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 0.69 and a beta of 0.73. The business’s fifty day moving average price is $85.56 and its 200 day moving average price is $73.19. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.85 and a quick ratio of 2.78. Incyte Corporation has a 12 month low of $53.56 and a 12 month high of $92.86.

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.