Incyte Corporation $INCY Shares Sold by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its holdings in Incyte Corporation (NASDAQ:INCY) by 8.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 109,219 shares of the biopharmaceutical company’s stock after selling 10,000 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Incyte were worth $10,788,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of INCY. Geode Capital Management LLC boosted its position in Incyte by 11.3% in the 4th quarter. Geode Capital Management LLC now owns 4,993,012 shares of the biopharmaceutical company’s stock worth $491,500,000 after purchasing an additional 506,842 shares in the last quarter. LSV Asset Management boosted its position in Incyte by 3.2% in the 3rd quarter. LSV Asset Management now owns 3,986,097 shares of the biopharmaceutical company’s stock worth $338,061,000 after purchasing an additional 124,266 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Incyte by 13.7% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,103,946 shares of the biopharmaceutical company’s stock worth $263,246,000 after purchasing an additional 373,298 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Incyte by 7.0% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,480,793 shares of the biopharmaceutical company’s stock worth $245,028,000 after purchasing an additional 161,405 shares in the last quarter. Finally, Man Group plc boosted its position in Incyte by 20.0% in the 3rd quarter. Man Group plc now owns 1,933,547 shares of the biopharmaceutical company’s stock worth $163,984,000 after purchasing an additional 322,877 shares in the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insider Activity

In other news, insider Pablo J. Cagnoni sold 18,667 shares of the stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $96.50, for a total transaction of $1,801,365.50. Following the transaction, the insider owned 262,692 shares in the company, valued at $25,349,778. This trade represents a 6.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. UBS Group lowered their price objective on Incyte from $104.00 to $94.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 25th. HC Wainwright restated a “buy” rating and issued a $135.00 price objective on shares of Incyte in a research report on Thursday, May 21st. Royal Bank Of Canada lowered their price objective on Incyte from $95.00 to $92.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 11th. Citigroup restated a “market perform” rating on shares of Incyte in a research report on Tuesday. Finally, Wells Fargo & Company lowered their price objective on Incyte from $107.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 11th. Nine analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $104.00.

Incyte Trading Up 1.1%

Shares of NASDAQ:INCY opened at $102.38 on Friday. Incyte Corporation has a 1 year low of $66.74 and a 1 year high of $112.29. The firm has a market capitalization of $20.45 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 0.99 and a beta of 0.79. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.68 and a quick ratio of 3.60. The business’s 50 day moving average price is $96.49 and its 200-day moving average price is $99.09.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.43. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the firm posted $1.16 EPS. The business’s revenue was up 20.9% on a year-over-year basis. On average, equities research analysts forecast that Incyte Corporation will post 6.65 earnings per share for the current fiscal year.

Incyte Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.