Incyte Co. (NASDAQ:INCY) Shares Acquired by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Incyte Co. (NASDAQ:INCY) by 409.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,855 shares of the biopharmaceutical company’s stock after acquiring an additional 32,830 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Incyte were worth $2,822,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quintet Private Bank Europe S.A. acquired a new position in shares of Incyte in the 4th quarter valued at $26,000. Global X Japan Co. Ltd. boosted its holdings in shares of Incyte by 144.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 230 shares during the period. Brooklyn Investment Group purchased a new position in shares of Incyte in the third quarter worth approximately $30,000. R Squared Ltd acquired a new stake in shares of Incyte during the fourth quarter valued at approximately $30,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Incyte in the 3rd quarter valued at approximately $33,000. 96.97% of the stock is currently owned by institutional investors.

Insider Activity at Incyte

In other news, EVP Steven H. Stein sold 12,352 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total transaction of $897,866.88. Following the sale, the executive vice president now directly owns 66,967 shares in the company, valued at approximately $4,867,831.23. The trade was a 15.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Sheila A. Denton sold 14,069 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $74.07, for a total value of $1,042,090.83. Following the completion of the transaction, the executive vice president now directly owns 25,848 shares of the company’s stock, valued at approximately $1,914,561.36. This trade represents a 35.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,827 shares of company stock worth $3,322,618 over the last three months. Company insiders own 17.60% of the company’s stock.

Incyte Trading Down 1.1 %

Shares of INCY stock opened at $62.08 on Wednesday. The firm has a market capitalization of $12.01 billion, a P/E ratio of 229.93, a price-to-earnings-growth ratio of 0.41 and a beta of 0.76. Incyte Co. has a 1 year low of $50.35 and a 1 year high of $83.95. The firm’s fifty day simple moving average is $70.22 and its 200 day simple moving average is $70.18. 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 posted its quarterly earnings data 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 return on equity of 0.05% and a net margin of 0.77%. As a group, sell-side analysts predict that Incyte Co. will post 4.86 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. JMP Securities restated a “market perform” rating on shares of Incyte in a research report on Tuesday, February 11th. Morgan Stanley decreased their target price on shares of Incyte from $69.00 to $65.00 and set an “equal weight” rating for the company in a research note on Monday. Royal Bank of Canada dropped their price target on shares of Incyte from $70.00 to $68.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 11th. William Blair cut Incyte from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 18th. Finally, Guggenheim downgraded Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price target for the company. in a research note on Tuesday, March 18th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $74.88.

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.