Meiji Yasuda Life Insurance Co Purchases 6,533 Shares of Incyte Co. (NASDAQ:INCY)

Meiji Yasuda Life Insurance Co increased its position in shares of Incyte Co. (NASDAQ:INCY) by 90.1% during the 4th quarter, Holdings Channel reports. The firm owned 13,786 shares of the biopharmaceutical company’s stock after acquiring an additional 6,533 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in Incyte were worth $952,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Barclays PLC lifted its holdings in shares of Incyte by 8.1% in the third quarter. Barclays PLC now owns 1,031,932 shares of the biopharmaceutical company’s stock worth $68,208,000 after buying an additional 77,542 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Incyte by 18.3% during the 4th quarter. GAMMA Investing LLC now owns 5,764 shares of the biopharmaceutical company’s stock valued at $398,000 after purchasing an additional 890 shares during the last quarter. Everence Capital Management Inc. purchased a new position in shares of Incyte during the fourth quarter valued at about $265,000. Nordea Investment Management AB increased its holdings in shares of Incyte by 9.2% in the fourth quarter. Nordea Investment Management AB now owns 13,738 shares of the biopharmaceutical company’s stock worth $945,000 after purchasing an additional 1,153 shares during the last quarter. Finally, CWA Asset Management Group LLC purchased a new stake in shares of Incyte in the fourth quarter worth about $1,933,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Sheila A. Denton sold 14,069 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total value of $1,042,090.83. Following the completion of the transaction, the executive vice president now directly owns 25,848 shares of the company’s stock, valued at $1,914,561.36. This trade represents a 35.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Barry P. Flannelly sold 19,807 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the sale, the executive vice president now directly owns 33,567 shares in the company, valued at approximately $2,272,150.23. This represents a 37.11 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,475 shares of company stock worth $2,424,751. 17.60% of the stock is owned by corporate insiders.

Incyte Stock Performance

Shares of Incyte stock opened at $62.53 on Friday. Incyte Co. has a 12 month low of $52.73 and a 12 month high of $83.95. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. The firm has a market cap of $12.10 billion, a P/E ratio of 231.60, a P/E/G ratio of 0.41 and a beta of 0.89. The stock’s fifty day moving average price is $62.53 and its 200-day moving average price is $68.85.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.15. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $996.17 million. Incyte had a net margin of 0.77% and a return on equity of 0.05%. The company’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period last year, the firm earned $0.64 earnings per share. On average, equities research analysts expect that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

INCY has been the topic of a number of research reports. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. Morgan Stanley dropped their price objective on shares of Incyte from $69.00 to $65.00 and set an “equal weight” rating for the company in a research note on Monday, March 24th. StockNews.com upgraded shares of Incyte from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Citigroup reduced their price objective on Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Finally, Stifel Nicolaus raised their price objective on Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a research note on Monday, February 10th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Incyte has an average rating of “Hold” and a consensus target price of $73.53.

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.