Zurcher Kantonalbank Zurich Cantonalbank Buys 37,132 Shares of Incyte Co. (NASDAQ:INCY)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Incyte Co. (NASDAQ:INCY) by 30.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 160,415 shares of the biopharmaceutical company’s stock after purchasing an additional 37,132 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.08% of Incyte worth $10,603,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. MFA Wealth Advisors LLC acquired a new position in Incyte during the 2nd quarter valued at about $26,000. Brooklyn Investment Group bought a new stake in shares of Incyte during the third quarter worth approximately $30,000. Innealta Capital LLC acquired a new position in Incyte in the second quarter valued at approximately $32,000. Cromwell Holdings LLC boosted its stake in Incyte by 101.1% in the third quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 283 shares during the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new stake in Incyte during the 2nd quarter worth $36,000. Institutional investors own 96.97% of the company’s stock.

Incyte Stock Down 1.1 %

Shares of Incyte stock opened at $74.59 on Monday. The firm has a market cap of $14.37 billion, a PE ratio of 532.82, a P/E/G ratio of 8.60 and a beta of 0.71. The business’s 50 day simple moving average is $70.76 and its 200 day simple moving average is $65.22. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. Incyte Co. has a 52-week low of $50.35 and a 52-week high of $83.95.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same period in the prior year, the firm earned $0.91 EPS. The business’s revenue for the quarter was up 23.8% compared to the same quarter last year. On average, analysts predict that Incyte Co. will post 0.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. StockNews.com raised Incyte from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Citigroup raised their target price on Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. BMO Capital Markets reaffirmed an “underperform” rating and issued a $52.00 price target (up from $48.00) on shares of Incyte in a research note on Wednesday, October 30th. Guggenheim lifted their price objective on shares of Incyte from $86.00 to $92.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Finally, The Goldman Sachs Group upped their target price on shares of Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Incyte currently has an average rating of “Hold” and an average price target of $77.16.

Insider Buying and Selling at Incyte

In related news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.36, for a total transaction of $526,942.00. Following the transaction, the executive vice president now directly owns 36,390 shares in the company, valued at approximately $2,269,280.40. The trade was a 18.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Barry P. Flannelly sold 3,680 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total transaction of $293,222.40. Following the completion of the sale, the executive vice president now owns 58,042 shares of the company’s stock, valued at approximately $4,624,786.56. This represents a 5.96 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,702 shares of company stock worth $856,166. Insiders own 17.60% of the company’s stock.

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.