Andra AP fonden Grows Position in Incyte Corporation $INCY

Andra AP fonden boosted its stake in shares of Incyte Corporation (NASDAQ:INCY) by 11.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 370,800 shares of the biopharmaceutical company’s stock after purchasing an additional 38,500 shares during the period. Andra AP fonden owned about 0.19% of Incyte worth $25,251,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of INCY. Banque Transatlantique SA purchased a new position in shares of Incyte during the 1st quarter valued at about $26,000. FNY Investment Advisers LLC purchased a new position in Incyte during the second quarter valued at approximately $27,000. Hilltop National Bank purchased a new position in Incyte during the second quarter valued at approximately $37,000. SVB Wealth LLC purchased a new position in Incyte during the first quarter valued at approximately $39,000. Finally, Geneos Wealth Management Inc. lifted its holdings in Incyte by 350.0% during the first quarter. Geneos Wealth Management Inc. now owns 756 shares of the biopharmaceutical company’s stock valued at $46,000 after purchasing an additional 588 shares in the last quarter. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Incyte in a research note on Wednesday, October 8th. Truist Financial restated a “hold” rating and set a $93.00 target price (up previously from $79.00) on shares of Incyte in a research note on Wednesday, October 29th. JPMorgan Chase & Co. boosted their price objective on Incyte from $73.00 to $89.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. UBS Group restated a “neutral” rating and issued a $68.00 price objective (up from $62.00) on shares of Incyte in a research report on Wednesday, July 30th. Finally, Bank of America boosted their price objective on Incyte from $90.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Incyte currently has a consensus rating of “Hold” and a consensus price target of $92.77.

Insider Activity at Incyte

In other news, EVP Lee Heeson sold 3,074 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $94.02, for a total transaction of $289,017.48. Following the sale, the executive vice president directly owned 29,241 shares of the company’s stock, valued at $2,749,238.82. This represents a 9.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 3,629 shares of company stock valued at $335,714 in the last quarter. 17.80% of the stock is currently owned by insiders.

Incyte Stock Up 2.7%

Shares of INCY stock opened at $105.70 on Thursday. The stock has a market cap of $20.75 billion, a P/E ratio of 17.71, a PEG ratio of 0.70 and a beta of 0.73. Incyte Corporation has a 52 week low of $53.56 and a 52 week high of $106.47. The company has a quick ratio of 2.78, a current ratio of 3.20 and a debt-to-equity ratio of 0.01. The company’s fifty day simple moving average is $87.43 and its two-hundred day simple moving average is $75.80.

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.