Handelsbanken Fonder AB Decreases Stock Position in Incyte Co. (NASDAQ:INCY)

Handelsbanken Fonder AB cut its stake in Incyte Co. (NASDAQ:INCY) by 50.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 and hedge funds also recently bought and sold shares of the company. Global X Japan Co. Ltd. lifted its stake in shares of Incyte by 144.7% during the 4th 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 last quarter. Brooklyn Investment Group purchased a new stake in Incyte in the third quarter worth $30,000. R Squared Ltd bought a new stake in shares of Incyte during the fourth quarter worth $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Incyte during the third quarter valued at $33,000. Finally, Groupama Asset Managment grew its holdings in shares of Incyte by 11.4% in the third quarter. Groupama Asset Managment now owns 59,597 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 6,105 shares during the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Stock Performance

Shares of INCY stock opened at $74.01 on Tuesday. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The business’s fifty day simple moving average is $71.32 and its 200-day simple moving average is $69.60. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. The company has a market cap of $14.32 billion, a PE ratio of 274.12, a PEG ratio of 0.41 and a beta of 0.70.

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. StockNews.com lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a research note on Tuesday, February 11th. Stifel Nicolaus increased their price objective on Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research note on Monday, February 10th. The Goldman Sachs Group lifted their target price on Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $75.25.

Insider Activity at Incyte

In other news, insider Thomas Tray sold 650 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $70.64, for a total transaction of $45,916.00. Following the sale, the insider now directly owns 23,962 shares of the company’s stock, valued at $1,692,675.68. The trade was a 2.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Vijay K. Iyengar sold 6,043 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $75.38, for a total value of $455,521.34. Following the completion of the transaction, the executive vice president now owns 30,658 shares of the company’s stock, valued at $2,311,000.04. This trade represents a 16.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,695 shares of company stock valued at $1,444,356 in the last three months. 17.60% of the stock is owned by insiders.

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.