Asset Management One Co. Ltd. Has $5.94 Million Stock Position in Incyte Corporation $INCY

Asset Management One Co. Ltd. lowered its position in shares of Incyte Corporation (NASDAQ:INCY) by 3.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 87,269 shares of the biopharmaceutical company’s stock after selling 2,762 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Incyte were worth $5,943,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. FNY Investment Advisers LLC acquired a new position in Incyte during the 2nd quarter worth approximately $27,000. Banque Transatlantique SA acquired a new stake in shares of Incyte in the 1st quarter valued at approximately $26,000. Hilltop National Bank acquired a new stake in shares of Incyte in the 2nd quarter valued at approximately $37,000. SVB Wealth LLC acquired a new stake in shares of Incyte in the 1st quarter valued at approximately $39,000. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Incyte by 350.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 756 shares of the biopharmaceutical company’s stock valued at $46,000 after buying an additional 588 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Stifel Nicolaus increased their price objective on Incyte from $110.00 to $115.00 and gave the company a “buy” rating in a report on Monday, September 22nd. UBS Group reissued a “neutral” rating and issued a $68.00 price objective (up previously from $62.00) on shares of Incyte in a report on Wednesday, July 30th. Guggenheim reissued a “neutral” rating on shares of Incyte in a report on Friday, September 19th. Royal Bank Of Canada increased their price objective on Incyte from $72.00 to $81.00 and gave the company a “sector perform” rating in a report on Wednesday, September 24th. Finally, JPMorgan Chase & Co. increased their price objective on Incyte from $73.00 to $89.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $84.79.

Incyte Trading Down 1.5%

Shares of Incyte stock opened at $91.65 on Wednesday. The business has a fifty day simple moving average of $85.93 and a two-hundred day simple moving average of $74.14. Incyte Corporation has a 1 year low of $53.56 and a 1 year high of $93.98. The company has a market capitalization of $17.90 billion, a price-to-earnings ratio of 20.83, a P/E/G ratio of 0.73 and a beta of 0.73. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.85 and a quick ratio of 2.78.

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.