Norinchukin Bank The Grows Stock Position in Incyte Co. (NASDAQ:INCY)

Norinchukin Bank The grew its position in shares of Incyte Co. (NASDAQ:INCY) by 9.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,222 shares of the biopharmaceutical company’s stock after purchasing an additional 620 shares during the period. Norinchukin Bank The’s holdings in Incyte were worth $499,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in INCY. Quintet Private Bank Europe S.A. purchased a new stake in Incyte during the 4th quarter worth $26,000. Global X Japan Co. Ltd. increased its position in shares of Incyte by 144.7% during the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 230 shares during the last quarter. R Squared Ltd acquired a new position in shares of Incyte in the fourth quarter worth about $30,000. Blue Trust Inc. boosted its holdings in Incyte by 124.6% in the fourth quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 329 shares during the last quarter. Finally, Bradley & Co. Private Wealth Management LLC acquired a new stake in Incyte during the 4th quarter valued at approximately $42,000. 96.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $67.69, for a total value of $1,340,735.83. Following the completion of the transaction, the executive vice president now owns 33,567 shares in the company, valued at $2,272,150.23. This represents a 37.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Sheila A. Denton sold 599 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $69.99, for a total transaction of $41,924.01. Following the sale, the executive vice president now owns 25,848 shares in the company, valued at $1,809,101.52. This trade represents a 2.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,475 shares of company stock valued at $2,424,751 in the last three months. 17.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

INCY has been the subject of several research analyst reports. William Blair cut Incyte from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 18th. Royal Bank of Canada reduced their price objective 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. Truist Financial dropped their target price on shares of Incyte from $74.00 to $72.00 and set a “hold” rating for the company in a research report on Tuesday, March 18th. Citigroup reduced their price target on shares of Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Finally, StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $74.69.

Incyte Stock Performance

Shares of INCY opened at $57.38 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. Incyte Co. has a 1 year low of $50.35 and a 1 year high of $83.95. The firm has a fifty day moving average of $64.35 and a 200-day moving average of $69.17. The company has a market cap of $11.10 billion, a price-to-earnings ratio of 212.53, a price-to-earnings-growth ratio of 0.41 and a beta of 0.89.

Incyte (NASDAQ:INCY) last posted its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 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, equities analysts anticipate that Incyte Co. will post 4.86 earnings per share for the current year.

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.