Nikko Asset Management Americas Inc. acquired a new position in Incyte Co. (NASDAQ:INCY) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 62,235 shares of the biopharmaceutical company’s stock, valued at approximately $5,353,000.
Other institutional investors have also recently bought and sold shares of the company. CX Institutional boosted its stake in Incyte by 1,496.7% in the 1st quarter. CX Institutional now owns 479 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 449 shares during the period. Bremer Trust National Association acquired a new stake in shares of Incyte during the 4th quarter valued at $42,000. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Incyte by 46.3% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 730 shares of the biopharmaceutical company’s stock valued at $46,000 after buying an additional 231 shares during the period. Machina Capital S.A.S. acquired a new stake in shares of Incyte during the 4th quarter valued at $48,000. Finally, Financial Gravity Wealth Inc. acquired a new stake in shares of Incyte during the 1st quarter valued at $51,000. 91.30% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on INCY. Argus lifted their target price on shares of Incyte from $83.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, February 25th. Royal Bank of Canada lowered shares of Incyte from an “outperform” rating to a “sector perform” rating and set a $89.00 target price for the company. in a research note on Wednesday, April 3rd. They noted that the move was a valuation call. BidaskClub lowered shares of Incyte from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Oppenheimer set a $85.00 price target on shares of Incyte and gave the company a “hold” rating in a report on Sunday, April 7th. Finally, Raymond James set a $100.00 price target on shares of Incyte and gave the company a “buy” rating in a report on Friday, February 15th. Thirteen equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Incyte currently has a consensus rating of “Buy” and a consensus price target of $91.07.
In related news, EVP Paula J. Swain sold 10,000 shares of Incyte stock in a transaction on Friday, March 1st. The shares were sold at an average price of $86.68, for a total value of $866,800.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 17.10% of the company’s stock.
INCY traded up $1.25 during trading on Friday, hitting $81.75. The stock had a trading volume of 1,308,233 shares, compared to its average volume of 1,438,546. The company has a market capitalization of $17.53 billion, a PE ratio of 99.70 and a beta of 1.31. Incyte Co. has a 12 month low of $57.00 and a 12 month high of $88.83. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.22 and a quick ratio of 5.21.
Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.33 by $0.29. The firm had revenue of $497.86 million for the quarter, compared to the consensus estimate of $488.00 million. Incyte had a net margin of 12.66% and a return on equity of 13.28%. The business’s quarterly revenue was up 30.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.01) EPS. Analysts anticipate that Incyte Co. will post 1.78 earnings per share for the current year.
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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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