Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Acquires 4,130 Shares of Incyte Co. (NASDAQ:INCY)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Incyte Co. (NASDAQ:INCY) by 13.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,785 shares of the biopharmaceutical company’s stock after purchasing an additional 4,130 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Incyte were worth $2,788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Envestnet Asset Management Inc. raised its stake in shares of Incyte by 46.0% in the third quarter. Envestnet Asset Management Inc. now owns 13,256 shares of the biopharmaceutical company’s stock worth $984,000 after buying an additional 4,177 shares during the period. Atlas Capital Advisors LLC purchased a new stake in shares of Incyte during the third quarter worth about $113,000. Redpoint Investment Management Pty Ltd grew its position in shares of Incyte by 73.2% during the third quarter. Redpoint Investment Management Pty Ltd now owns 5,540 shares of the biopharmaceutical company’s stock worth $411,000 after purchasing an additional 2,342 shares in the last quarter. Millennium Management LLC grew its position in shares of Incyte by 270.1% during the third quarter. Millennium Management LLC now owns 275,860 shares of the biopharmaceutical company’s stock worth $20,477,000 after purchasing an additional 201,321 shares in the last quarter. Finally, California State Teachers Retirement System grew its position in shares of Incyte by 1.3% during the third quarter. California State Teachers Retirement System now owns 295,210 shares of the biopharmaceutical company’s stock worth $21,913,000 after purchasing an additional 3,817 shares in the last quarter. 91.06% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms recently issued reports on INCY. BMO Capital Markets cut their target price on Incyte from $85.00 to $74.00 and set a “market perform” rating for the company in a research report on Friday, January 3rd. Evercore ISI reiterated a “buy” rating and set a $92.00 target price on shares of Incyte in a research report on Monday, January 27th. Mizuho reiterated a “hold” rating and set a $79.00 target price on shares of Incyte in a research report on Thursday. Bank of America reiterated a “neutral” rating and set a $82.00 target price on shares of Incyte in a research report on Tuesday, February 4th. Finally, Goldman Sachs Group cut their target price on Incyte from $122.00 to $107.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $91.45.

In other news, EVP Barry P. Flannelly sold 2,142 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $90.00, for a total value of $192,780.00. Following the completion of the sale, the executive vice president now directly owns 17,401 shares of the company’s stock, valued at approximately $1,566,090. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Yao Wenqing sold 16,835 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $95.00, for a total value of $1,599,325.00. Following the completion of the sale, the executive vice president now directly owns 98,473 shares of the company’s stock, valued at $9,354,935. The disclosure for this sale can be found here. Insiders sold a total of 42,142 shares of company stock valued at $3,931,005 over the last ninety days. Corporate insiders own 17.10% of the company’s stock.

NASDAQ INCY opened at $78.45 on Friday. The stock has a market capitalization of $16.81 billion, a PE ratio of 36.30, a P/E/G ratio of 0.88 and a beta of 1.06. The business has a 50 day simple moving average of $78.56 and a two-hundred day simple moving average of $82.10. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.02 and a quick ratio of 5.01. Incyte Co. has a 1-year low of $71.84 and a 1-year high of $96.79.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Thursday, February 13th. The biopharmaceutical company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.08. The business had revenue of $579.40 million during the quarter, compared to analysts’ expectations of $558.13 million. Incyte had a return on equity of 20.82% and a net margin of 20.70%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 EPS. On average, analysts anticipate that Incyte Co. will post 2.79 EPS for the current fiscal year.

About Incyte

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; 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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