Skandinaviska Enskilda Banken AB publ Purchases 1,192 Shares of Incyte Co. (NASDAQ:INCY)

Skandinaviska Enskilda Banken AB publ boosted its position in Incyte Co. (NASDAQ:INCY) by 2.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,922 shares of the biopharmaceutical company’s stock after acquiring an additional 1,192 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Incyte were worth $3,072,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in INCY. Quintet Private Bank Europe S.A. bought a new position in Incyte in the fourth quarter valued at $26,000. Global X Japan Co. Ltd. increased its stake in Incyte by 144.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 230 shares during the last quarter. Brooklyn Investment Group bought a new position in Incyte in the third quarter valued at $30,000. R Squared Ltd bought a new position in Incyte in the fourth quarter valued at $30,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Incyte during the third quarter valued at about $33,000. Institutional investors own 96.97% of the company’s stock.

Incyte Trading Up 0.2 %

NASDAQ:INCY opened at $67.86 on Monday. 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 Co. has a 12 month low of $50.35 and a 12 month high of $83.95. The company has a market cap of $13.13 billion, a PE ratio of 251.34, a price-to-earnings-growth ratio of 0.41 and a beta of 0.76. The company has a 50 day simple moving average of $71.75 and a two-hundred day simple moving average of $70.34.

Incyte (NASDAQ:INCY) last posted 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 forecast that Incyte Co. will post 4.86 earnings per share for the current year.

Insider Activity

In other news, EVP Steven H. Stein sold 12,352 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total transaction of $897,866.88. Following the completion of the sale, the executive vice president now owns 66,967 shares of the company’s stock, valued at $4,867,831.23. The trade was a 15.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Sheila A. Denton sold 599 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total transaction of $41,924.01. Following the sale, the executive vice president now directly owns 25,848 shares of the company’s stock, valued at approximately $1,809,101.52. The trade was a 2.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,020 shares of company stock valued at $1,981,882 in the last 90 days. Company insiders own 17.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Royal Bank of Canada reduced their price objective on Incyte from $70.00 to $68.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 11th. Citigroup reduced their price objective on Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Stifel Nicolaus raised their price objective on Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a research note on Monday, February 10th. Wells Fargo & Company raised their target price on Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 19th. Finally, UBS Group initiated coverage on Incyte in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $75.25.

Incyte 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.