Incyte Corporation $INCY Shares Acquired by Swiss National Bank

Swiss National Bank lifted its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 7.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 489,774 shares of the biopharmaceutical company’s stock after acquiring an additional 34,900 shares during the period. Swiss National Bank owned 0.25% of Incyte worth $46,098,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Elyxium Wealth LLC acquired a new stake in Incyte during the 4th quarter worth $28,000. Smithfield Trust Co grew its holdings in shares of Incyte by 135.0% during the fourth quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 162 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Incyte during the fourth quarter worth about $35,000. Atlas Capital Advisors Inc. purchased a new stake in shares of Incyte in the 4th quarter valued at about $35,000. Finally, Leonteq Securities AG acquired a new stake in shares of Incyte in the 4th quarter valued at about $35,000. 96.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on INCY. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Incyte in a research report on Monday, June 29th. BMO Capital Markets increased their price objective on Incyte from $94.00 to $112.00 and gave the company a “market perform” rating in a report on Monday, July 13th. Sanford C. Bernstein began coverage on shares of Incyte in a research report on Thursday, May 21st. They set a “market perform” rating and a $99.00 target price on the stock. Oppenheimer reaffirmed a “market perform” rating and issued a $107.00 target price on shares of Incyte in a report on Monday, June 8th. Finally, Truist Financial upped their price target on shares of Incyte from $103.00 to $105.00 and gave the company a “hold” rating in a research report on Monday, June 22nd. Eight analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $109.95.

Incyte Stock Down 1.4%

Incyte stock opened at $115.79 on Thursday. Incyte Corporation has a twelve month low of $69.24 and a twelve month high of $119.60. The stock has a 50 day moving average of $106.00 and a two-hundred day moving average of $101.41. The company has a current ratio of 3.68, a quick ratio of 3.60 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $23.13 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 1.06 and a beta of 0.76.

Incyte (NASDAQ:INCY) last released 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 business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the company posted $1.16 earnings per share. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year. As a group, research analysts expect that Incyte Corporation will post 6.61 earnings per share for the current 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.