Arbejdsmarkedets Tillaegspension Takes Position in Incyte Corporation $INCY

Arbejdsmarkedets Tillaegspension acquired a new position in shares of Incyte Corporation (NASDAQ:INCY) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 244,419 shares of the biopharmaceutical company’s stock, valued at approximately $24,141,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. LSV Asset Management raised its holdings in Incyte by 3.2% during the third 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 during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Incyte by 13.7% during the third 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 during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in Incyte by 7.0% during the fourth 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 during the last quarter. Man Group plc increased its position in Incyte by 20.0% during the third quarter. Man Group plc now owns 1,933,547 shares of the biopharmaceutical company’s stock worth $163,984,000 after buying an additional 322,877 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in Incyte by 34.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,743,794 shares of the biopharmaceutical company’s stock worth $147,891,000 after buying an additional 448,911 shares in the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Incyte

In other news, insider Pablo J. Cagnoni sold 18,667 shares of Incyte stock in a transaction on Friday, April 17th. The stock was sold at an average price of $96.50, for a total value of $1,801,365.50. Following the completion of the sale, the insider owned 262,692 shares of the company’s stock, valued at $25,349,778. The trade was a 6.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 currently owned by corporate insiders.

Incyte Price Performance

Shares of NASDAQ:INCY opened at $97.63 on Friday. The company has a market cap of $19.50 billion, a P/E ratio of 13.79, a P/E/G ratio of 0.95 and a beta of 0.79. The company has a quick ratio of 3.60, a current ratio of 3.68 and a debt-to-equity ratio of 0.01. Incyte Corporation has a 52 week low of $61.10 and a 52 week high of $112.29. The business has a fifty day simple moving average of $95.45 and a 200-day simple moving average of $99.52.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.43. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.22 billion. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The business’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.16 earnings per share. Equities research analysts forecast that Incyte Corporation will post 6.73 EPS for the current year.

Analyst Upgrades and Downgrades

INCY has been the subject of several recent research reports. Piper Sandler raised their price target on Incyte from $102.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. Jefferies Financial Group downgraded Incyte from a “buy” rating to a “hold” rating and dropped their price target for the stock from $120.00 to $94.00 in a research report on Monday, March 16th. Stifel Nicolaus raised their price target on Incyte from $120.00 to $123.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. HC Wainwright reissued a “buy” rating and set a $135.00 price target on shares of Incyte in a research report on Monday, May 4th. Finally, Barclays reissued an “overweight” rating on shares of Incyte in a research report on Tuesday, March 24th. Ten research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $104.26.

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.