Daiwa Securities Group Inc. Has $1.52 Million Stock Holdings in Incyte Co. (NASDAQ:INCY)

Daiwa Securities Group Inc. boosted its position in shares of Incyte Co. (NASDAQ:INCY) by 6.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,993 shares of the biopharmaceutical company’s stock after acquiring an additional 1,344 shares during the period. Daiwa Securities Group Inc.’s holdings in Incyte were worth $1,519,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Quintet Private Bank Europe S.A. acquired a new stake in shares of Incyte during the 4th quarter worth approximately $26,000. Global X Japan Co. Ltd. lifted its position in 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 purchasing an additional 230 shares during the period. Brooklyn Investment Group acquired a new stake in Incyte during the third quarter worth $30,000. R Squared Ltd bought a new stake in Incyte in the 4th quarter valued at $30,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Incyte in the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Stifel Nicolaus lifted their target price on shares of Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a research report on Monday, February 10th. Citigroup decreased their price objective on Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. William Blair reissued an “outperform” rating on shares of Incyte in a report on Friday, December 13th. Royal Bank of Canada decreased their price target 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. Finally, JMP Securities reiterated 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 issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $75.25.

Insider Activity

In related news, EVP Sheila A. Denton sold 14,069 shares of Incyte stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total transaction of $1,042,090.83. Following the transaction, the executive vice president now owns 25,848 shares of the company’s stock, valued at $1,914,561.36. This trade represents a 35.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas Tray sold 650 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $69.31, for a total transaction of $45,051.50. Following the transaction, the insider now owns 23,312 shares of the company’s stock, valued at approximately $1,615,754.72. This represents a 2.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,670 shares of company stock valued at $2,026,933. 17.60% of the stock is currently owned by insiders.

Incyte Stock Up 0.2 %

NASDAQ:INCY opened at $67.86 on Friday. The company has a market cap of $13.13 billion, a price-to-earnings ratio of 251.34, a P/E/G ratio of 0.41 and a beta of 0.76. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. The stock’s fifty day moving average price is $71.75 and its two-hundred day moving average price is $70.27. Incyte Co. has a 52-week low of $50.35 and a 52-week high of $83.95.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results 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 net margin of 0.77% and a return on equity of 0.05%. On average, analysts anticipate 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.