Principal Financial Group Inc. Purchases 4,954 Shares of Incyte Co. (NASDAQ:INCY)

Principal Financial Group Inc. boosted its position in shares of Incyte Co. (NASDAQ:INCYGet Rating) by 2.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 241,882 shares of the biopharmaceutical company’s stock after acquiring an additional 4,954 shares during the quarter. Principal Financial Group Inc. owned 0.11% of Incyte worth $18,375,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its position in shares of Incyte by 117.4% in the first quarter. Royal Bank of Canada now owns 7,682,752 shares of the biopharmaceutical company’s stock valued at $610,164,000 after purchasing an additional 4,148,559 shares during the period. UBS Group AG raised its position in shares of Incyte by 204.8% in the first quarter. UBS Group AG now owns 2,936,589 shares of the biopharmaceutical company’s stock valued at $233,224,000 after purchasing an additional 1,973,236 shares during the period. Polar Capital Holdings Plc raised its position in shares of Incyte by 100.3% in the first quarter. Polar Capital Holdings Plc now owns 1,012,386 shares of the biopharmaceutical company’s stock valued at $80,404,000 after purchasing an additional 507,000 shares during the period. Wellington Management Group LLP raised its position in shares of Incyte by 3.7% in the first quarter. Wellington Management Group LLP now owns 9,338,192 shares of the biopharmaceutical company’s stock valued at $741,639,000 after purchasing an additional 329,701 shares during the period. Finally, National Pension Service acquired a new stake in Incyte during the first quarter worth about $25,365,000. 94.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Guggenheim downgraded shares of Incyte to a “neutral” rating in a research note on Tuesday, August 9th. StockNews.com downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 4th. Oppenheimer reduced their price target on shares of Incyte from $109.00 to $98.00 in a research note on Wednesday, August 3rd. Royal Bank of Canada raised their price target on shares of Incyte from $77.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, November 2nd. Finally, Morgan Stanley raised their price target on shares of Incyte from $76.00 to $77.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Incyte currently has an average rating of “Hold” and an average target price of $84.20.

Incyte Stock Down 0.2 %

Shares of NASDAQ INCY opened at $78.27 on Wednesday. The company has a 50 day simple moving average of $71.81 and a 200 day simple moving average of $73.79. The firm has a market cap of $17.41 billion, a PE ratio of 19.92, a price-to-earnings-growth ratio of 1.62 and a beta of 0.70. Incyte Co. has a 1 year low of $62.31 and a 1 year high of $84.86. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.80 and a quick ratio of 3.75.

Incyte Company Profile

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Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States and internationally. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in various liquid and solid tumor types; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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