Daiwa Securities Group Inc. Has $1.88 Million Stock Holdings in Incyte Co. (NASDAQ:INCY)

Daiwa Securities Group Inc. increased its position in Incyte Co. (NASDAQ:INCYFree Report) by 42.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,957 shares of the biopharmaceutical company’s stock after purchasing an additional 9,893 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Incyte were worth $1,878,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC lifted its position in Incyte by 0.4% in the 4th quarter. Fisher Asset Management LLC now owns 44,169 shares of the biopharmaceutical company’s stock valued at $2,773,000 after acquiring an additional 187 shares in the last quarter. 180 Wealth Advisors LLC lifted its holdings in shares of Incyte by 4.5% in the first quarter. 180 Wealth Advisors LLC now owns 4,764 shares of the biopharmaceutical company’s stock valued at $271,000 after purchasing an additional 204 shares in the last quarter. Berger Financial Group Inc boosted its position in shares of Incyte by 0.4% during the fourth quarter. Berger Financial Group Inc now owns 60,468 shares of the biopharmaceutical company’s stock worth $3,797,000 after buying an additional 212 shares during the period. Allworth Financial LP grew its holdings in shares of Incyte by 40.0% during the fourth quarter. Allworth Financial LP now owns 802 shares of the biopharmaceutical company’s stock worth $50,000 after buying an additional 229 shares in the last quarter. Finally, Grandfield & Dodd LLC raised its position in Incyte by 1.8% in the 4th quarter. Grandfield & Dodd LLC now owns 18,390 shares of the biopharmaceutical company’s stock valued at $1,155,000 after buying an additional 319 shares during the last quarter. 96.97% of the stock is owned by institutional investors.

Incyte Trading Up 4.3 %

Shares of NASDAQ:INCY opened at $60.70 on Wednesday. Incyte Co. has a 12-month low of $50.27 and a 12-month high of $67.36. The business has a 50 day moving average of $58.38 and a 200-day moving average of $58.55. The company has a quick ratio of 3.43, a current ratio of 3.47 and a debt-to-equity ratio of 0.01. The stock has a market cap of $13.63 billion, a PE ratio of 18.39, a P/E/G ratio of 1.25 and a beta of 0.73.

Incyte (NASDAQ:INCYGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The biopharmaceutical company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.31). The firm had revenue of $880.89 million for the quarter, compared to the consensus estimate of $935.85 million. Incyte had a return on equity of 12.83% and a net margin of 19.78%. As a group, equities research analysts forecast that Incyte Co. will post 3.57 earnings per share for the current year.

Insider Buying and Selling at Incyte

In other news, EVP Barry P. Flannelly sold 19,164 shares of Incyte stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total value of $1,149,840.00. Following the completion of the sale, the executive vice president now directly owns 66,377 shares in the company, valued at $3,982,620. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Thomas Tray sold 1,093 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $58.91, for a total transaction of $64,388.63. Following the completion of the sale, the insider now owns 21,634 shares of the company’s stock, valued at approximately $1,274,458.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Barry P. Flannelly sold 19,164 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total transaction of $1,149,840.00. Following the transaction, the executive vice president now owns 66,377 shares of the company’s stock, valued at $3,982,620. The disclosure for this sale can be found here. Insiders own 17.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $65.00 price target on shares of Incyte in a research note on Monday, March 25th. Truist Financial restated a “buy” rating and set a $83.00 price objective (down from $84.00) on shares of Incyte in a research note on Wednesday, May 1st. Bank of America reduced their price target on Incyte from $69.00 to $67.00 and set a “neutral” rating for the company in a research report on Wednesday, March 13th. TD Cowen lowered their price target on Incyte from $88.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Finally, Oppenheimer decreased their target price on shares of Incyte from $92.00 to $84.00 and set an “outperform” rating for the company in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $73.44.

View Our Latest Stock Report on INCY

Incyte Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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