Incyte Co. (NASDAQ:INCY) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB lowered its holdings in Incyte Co. (NASDAQ:INCY) by 50.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,600 shares of the biopharmaceutical company’s stock after selling 43,717 shares during the quarter. Handelsbanken Fonder AB’s holdings in Incyte were worth $2,942,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in INCY. Global X Japan Co. Ltd. boosted its holdings in Incyte by 144.7% in 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 last quarter. Brooklyn Investment Group acquired a new position in shares of Incyte in the 3rd quarter valued at about $30,000. R Squared Ltd purchased a new stake in shares of Incyte in the fourth quarter worth about $30,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Incyte during the third quarter worth about $33,000. Finally, Groupama Asset Managment raised its position in Incyte by 11.4% during the third quarter. Groupama Asset Managment now owns 59,597 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 6,105 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Insiders Place Their Bets

In other Incyte news, insider Thomas Tray sold 650 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $69.31, for a total value of $45,051.50. Following the completion of the sale, the insider now directly owns 23,312 shares of the company’s stock, valued at $1,615,754.72. This trade represents a 2.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Vijay K. Iyengar sold 6,043 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $75.38, for a total transaction of $455,521.34. Following the transaction, the executive vice president now directly owns 30,658 shares in the company, valued at approximately $2,311,000.04. The trade was a 16.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,695 shares of company stock valued at $1,444,356 in the last ninety days. 17.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

INCY has been the topic of several recent research reports. Stifel Nicolaus upped their price objective on Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research report on Monday, February 10th. StockNews.com downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. Morgan Stanley lifted their price objective on shares of Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. JMP Securities reiterated a “market perform” rating on shares of Incyte in a research report on Tuesday, February 11th. Finally, William Blair restated an “outperform” rating on shares of Incyte in a research report on Friday, December 13th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $75.25.

Incyte Stock Up 2.6 %

NASDAQ INCY opened at $74.01 on Tuesday. Incyte Co. has a one year low of $50.35 and a one year high of $83.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. The business has a fifty day moving average price of $71.32 and a 200 day moving average price of $69.60. The company has a market cap of $14.32 billion, a P/E ratio of 274.12, a P/E/G ratio of 0.41 and a beta of 0.70.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. Research analysts anticipate that Incyte Co. will post 4.86 EPS for the current fiscal year.

About Incyte

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.