Swiss National Bank Sells 20,800 Shares of Incyte Co. (NASDAQ:INCY)

Swiss National Bank cut its holdings in Incyte Co. (NASDAQ:INCY) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 462,474 shares of the biopharmaceutical company’s stock after selling 20,800 shares during the period. Swiss National Bank owned 0.24% of Incyte worth $31,943,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in INCY. Quintet Private Bank Europe S.A. bought a new position in Incyte in the 4th quarter worth approximately $26,000. Global X Japan Co. Ltd. increased its position in Incyte by 144.7% during the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 230 shares during the period. R Squared Ltd acquired a new position in Incyte during the 4th quarter valued at $30,000. Brooklyn Investment Group acquired a new position in Incyte during the 3rd quarter valued at $30,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Incyte in the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on INCY. Citigroup reduced their target price on shares of Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Wells Fargo & Company raised their price objective on Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. Royal Bank of Canada lowered their price objective on Incyte from $70.00 to $68.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 11th. UBS Group began coverage on Incyte in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 target price for the company. Finally, JMP Securities reissued a “market perform” rating on shares of Incyte in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $75.25.

Insider Buying and Selling at Incyte

In related news, EVP Sheila A. Denton sold 14,069 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 25,848 shares of the company’s stock, valued at $1,914,561.36. This trade represents a 35.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Steven H. Stein sold 12,352 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total value of $897,866.88. Following the transaction, the executive vice president now directly owns 66,967 shares in the company, valued at approximately $4,867,831.23. This represents a 15.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,020 shares of company stock worth $1,981,882. 17.60% of the stock is currently owned by corporate insiders.

Incyte Stock Down 8.6 %

NASDAQ INCY opened at $62.01 on Tuesday. The stock’s 50 day simple moving average is $71.55 and its 200 day simple moving average is $70.31. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. Incyte Co. has a one year low of $50.35 and a one year high of $83.95. The firm has a market cap of $12.00 billion, a PE ratio of 229.68, a price-to-earnings-growth ratio of 0.41 and a beta of 0.76.

Incyte (NASDAQ:INCY) last announced its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share 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 forecast that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

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.