Incyte Co. (NASDAQ:INCY) Stock Holdings Lifted by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. grew its stake in shares of Incyte Co. (NASDAQ:INCY) by 6.5% in the fourth quarter, according to its most recent filing with the SEC. The fund 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 reporting period.

Several other large investors have also modified their holdings of the stock. CWA Asset Management Group LLC purchased a new stake in shares of Incyte during the fourth quarter valued at $1,933,000. Orion Portfolio Solutions LLC acquired a new stake in Incyte during the 3rd quarter worth about $770,000. Tri Ri Asset Management Corp purchased a new stake in Incyte during the third quarter valued at about $3,292,000. Cypress Capital Group acquired a new position in shares of Incyte in the third quarter worth about $971,000. Finally, Bridgewater Associates LP increased its position in shares of Incyte by 142.8% in the third quarter. Bridgewater Associates LP now owns 308,632 shares of the biopharmaceutical company’s stock worth $20,401,000 after acquiring an additional 181,504 shares in the last quarter. 96.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

INCY has been the subject of several research analyst reports. JMP Securities restated a “market perform” rating on shares of Incyte in a research report on Tuesday, February 11th. Stifel Nicolaus increased their target price on Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a report on Monday, February 10th. Wells Fargo & Company lifted their price target on Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. William Blair reissued an “outperform” rating on shares of Incyte in a research report on Friday, December 13th. Finally, StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $75.25.

Insiders Place Their Bets

In other Incyte news, EVP Sheila A. Denton sold 599 shares of Incyte stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $69.99, for a total value of $41,924.01. Following the transaction, the executive vice president now directly owns 25,848 shares of the company’s stock, valued at $1,809,101.52. The trade was a 2.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Thomas Tray sold 650 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $69.31, for a total value of $45,051.50. Following the completion of the sale, the insider now directly owns 23,312 shares of the company’s stock, valued at $1,615,754.72. This represents a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,670 shares of company stock valued at $2,026,933 over the last 90 days. 17.60% of the stock is currently owned by company insiders.

Incyte Stock Up 0.2 %

INCY stock opened at $67.86 on Friday. The firm has a market cap of $13.13 billion, a PE ratio of 251.34, a PEG 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 company has a fifty day simple moving average of $71.75 and a 200 day simple moving average of $70.27. 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 announced its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share 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%. Sell-side analysts anticipate that Incyte Co. will post 4.86 EPS for the current fiscal 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.