Sumitomo Mitsui DS Asset Management Company Ltd Has $1.56 Million Stake in Incyte Co. (NASDAQ:INCY)

Sumitomo Mitsui DS Asset Management Company Ltd reduced its holdings in Incyte Co. (NASDAQ:INCY) by 2.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,579 shares of the biopharmaceutical company’s stock after selling 683 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Incyte were worth $1,559,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Pacer Advisors Inc. increased its position in Incyte by 17,460.4% in the 2nd quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock worth $163,200,000 after buying an additional 2,676,851 shares during the period. AQR Capital Management LLC raised its stake in Incyte by 70.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock valued at $159,905,000 after purchasing an additional 1,101,041 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in Incyte by 28.0% in the 2nd quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company’s stock valued at $215,833,000 after purchasing an additional 779,243 shares during the period. Swedbank AB bought a new position in shares of Incyte during the 1st quarter worth about $37,440,000. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Incyte by 122.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 892,710 shares of the biopharmaceutical company’s stock valued at $54,116,000 after buying an additional 490,680 shares during the last quarter. 96.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Incyte

In related news, EVP Vijay K. Iyengar sold 15,571 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $70.00, for a total value of $1,089,970.00. Following the transaction, the executive vice president now owns 36,701 shares in the company, valued at $2,569,070. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Thomas Tray sold 572 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total value of $36,001.68. Following the transaction, the insider now directly owns 24,825 shares in the company, valued at $1,562,485.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Vijay K. Iyengar sold 15,571 shares of Incyte stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $70.00, for a total transaction of $1,089,970.00. Following the sale, the executive vice president now directly owns 36,701 shares of the company’s stock, valued at $2,569,070. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,593 shares of company stock worth $1,652,914. Insiders own 17.50% of the company’s stock.

Incyte Stock Down 1.7 %

Shares of NASDAQ INCY opened at $65.27 on Tuesday. The company has a quick ratio of 1.84, a current ratio of 1.92 and a debt-to-equity ratio of 0.01. The company has a market cap of $14.66 billion, a price-to-earnings ratio of 19.78, a price-to-earnings-growth ratio of 5.30 and a beta of 0.73. Incyte Co. has a 12-month low of $50.27 and a 12-month high of $70.36. The firm’s 50-day simple moving average is $64.87 and its 200 day simple moving average is $61.01.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing the consensus estimate of $0.78 by ($2.60). Incyte had a net margin of 2.52% and a return on equity of 0.75%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the company earned $0.77 earnings per share. Incyte’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, research analysts expect that Incyte Co. will post 0.66 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

INCY has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their target price on Incyte from $59.00 to $61.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Truist Financial restated a “hold” rating and issued a $74.00 target price (down from $83.00) on shares of Incyte in a research note on Wednesday, September 18th. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a research report on Tuesday, September 17th. Wells Fargo & Company lowered their price target on shares of Incyte from $63.00 to $62.00 and set an “equal weight” rating on the stock in a report on Thursday, October 10th. Finally, Citigroup raised their price objective on shares of Incyte from $80.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $73.21.

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.