Tokio Marine Asset Management Co. Ltd. Has $330,000 Holdings in Incyte Co. (NASDAQ:INCY)

Tokio Marine Asset Management Co. Ltd. cut its position in Incyte Co. (NASDAQ:INCY) by 4.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,261 shares of the biopharmaceutical company’s stock after selling 272 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Incyte were worth $330,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Incyte by 1.3% in the third quarter. Vanguard Group Inc. now owns 22,159,419 shares of the biopharmaceutical company’s stock worth $1,280,150,000 after acquiring an additional 289,882 shares during the last quarter. Invesco Ltd. raised its stake in shares of Incyte by 3.2% in the third quarter. Invesco Ltd. now owns 3,922,045 shares of the biopharmaceutical company’s stock worth $226,577,000 after acquiring an additional 120,838 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Incyte by 56.6% during the third quarter. Acadian Asset Management LLC now owns 2,684,621 shares of the biopharmaceutical company’s stock worth $155,053,000 after buying an additional 970,668 shares during the last quarter. Northern Trust Corp raised its stake in shares of Incyte by 5.9% during the third quarter. Northern Trust Corp now owns 2,127,688 shares of the biopharmaceutical company’s stock worth $122,917,000 after buying an additional 119,389 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Incyte by 17.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,085,465 shares of the biopharmaceutical company’s stock worth $120,477,000 after buying an additional 313,731 shares during the last quarter. 96.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Incyte in a report on Friday, February 23rd. They set a “buy” rating and a $81.00 price objective for the company. JMP Securities cut shares of Incyte from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 14th. BMO Capital Markets boosted their price objective on shares of Incyte from $58.00 to $64.00 and gave the company a “market perform” rating in a report on Wednesday, February 14th. Truist Financial decreased their price objective on shares of Incyte from $91.00 to $84.00 and set a “buy” rating for the company in a report on Wednesday, February 14th. Finally, Citigroup decreased their price objective on shares of Incyte from $82.00 to $81.00 and set a “buy” rating for the company in a report on Wednesday, February 14th. Nine equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $75.50.

Incyte Stock Performance

Shares of INCY opened at $51.68 on Monday. Incyte Co. has a 12 month low of $50.27 and a 12 month high of $75.74. The firm has a fifty day simple moving average of $56.78 and a 200 day simple moving average of $57.71. The stock has a market capitalization of $11.60 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 1.20 and a beta of 0.65. The company has a current ratio of 3.55, a quick ratio of 3.36 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, February 13th. The biopharmaceutical company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.09). Incyte had a return on equity of 12.56% and a net margin of 16.17%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. During the same quarter in the previous year, the company posted $0.44 EPS. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. Research analysts forecast that Incyte Co. will post 3.84 EPS for the current fiscal year.

Incyte 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.