Skandinaviska Enskilda Banken AB publ Grows Stock Holdings in Incyte Co. (NASDAQ:INCY)

Skandinaviska Enskilda Banken AB publ lifted its position in shares of Incyte Co. (NASDAQ:INCY) by 2.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 44,922 shares of the biopharmaceutical company’s stock after buying an additional 1,192 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Incyte were worth $3,072,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. CWA Asset Management Group LLC purchased a new stake in Incyte in the 4th quarter worth $1,933,000. Orion Portfolio Solutions LLC purchased a new stake in Incyte in the 3rd quarter worth $770,000. Tri Ri Asset Management Corp purchased a new stake in Incyte in the 3rd quarter worth $3,292,000. Cypress Capital Group purchased a new stake in Incyte in the 3rd quarter worth $971,000. Finally, Bridgewater Associates LP lifted its stake in Incyte by 142.8% in the 3rd quarter. Bridgewater Associates LP now owns 308,632 shares of the biopharmaceutical company’s stock worth $20,401,000 after purchasing an additional 181,504 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, EVP Steven H. Stein sold 12,352 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were 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 $4,867,831.23. This represents a 15.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Sheila A. Denton sold 599 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $69.99, for a total transaction of $41,924.01. Following the completion of the transaction, the executive vice president now owns 25,848 shares in the company, valued at $1,809,101.52. This represents a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 27,020 shares of company stock worth $1,981,882 in the last three months. Corporate insiders own 17.60% of the company’s stock.

Wall Street Analysts Forecast Growth

INCY has been the topic of several research analyst reports. StockNews.com cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. Stifel Nicolaus boosted their price target on shares of Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research note on Monday, February 10th. William Blair restated an “outperform” rating on shares of Incyte in a research report on Friday, December 13th. UBS Group began coverage on shares of Incyte in a research report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 target price on the stock. Finally, JMP Securities restated a “market perform” rating on shares of Incyte in a research report on Tuesday, February 11th. 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $75.25.

Incyte Stock Performance

Shares of NASDAQ:INCY opened at $67.86 on Monday. The company has a market capitalization of $13.13 billion, a price-to-earnings ratio of 251.34, a PEG ratio of 0.41 and a beta of 0.76. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95. The firm’s 50-day moving average is $71.75 and its 200 day moving average is $70.34. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01.

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