Incyte Co. (NASDAQ:INCY) Shares Sold by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. trimmed its position in shares of Incyte Co. (NASDAQ:INCY) by 16.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,127 shares of the biopharmaceutical company’s stock after selling 12,828 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Incyte were worth $4,429,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Retirement Systems of Alabama raised its holdings in shares of Incyte by 0.4% in the 4th quarter. Retirement Systems of Alabama now owns 34,620 shares of the biopharmaceutical company’s stock valued at $2,391,000 after buying an additional 139 shares during the period. Trust Point Inc. increased its stake in Incyte by 5.0% during the fourth quarter. Trust Point Inc. now owns 3,282 shares of the biopharmaceutical company’s stock worth $227,000 after purchasing an additional 156 shares during the period. Mather Group LLC. increased its stake in Incyte by 26.4% during the fourth quarter. Mather Group LLC. now owns 828 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 173 shares during the period. 180 Wealth Advisors LLC lifted its position in shares of Incyte by 3.9% during the fourth quarter. 180 Wealth Advisors LLC now owns 5,231 shares of the biopharmaceutical company’s stock worth $361,000 after purchasing an additional 195 shares in the last quarter. Finally, Catalyst Financial Partners LLC boosted its stake in shares of Incyte by 2.7% in the fourth quarter. Catalyst Financial Partners LLC now owns 7,493 shares of the biopharmaceutical company’s stock valued at $518,000 after purchasing an additional 200 shares during the period. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on INCY. Wells Fargo & Company boosted their price target on shares of Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 19th. Citigroup lowered their target price on Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Truist Financial lowered their price objective on Incyte from $74.00 to $72.00 and set a “hold” rating for the company in a research report on Tuesday, March 18th. Finally, Morgan Stanley reduced their target price on shares of Incyte from $69.00 to $65.00 and set an “equal weight” rating on the stock in a report on Monday, March 24th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $74.88.

Incyte Trading Up 0.6 %

NASDAQ:INCY opened at $60.91 on Wednesday. The company has a market capitalization of $11.79 billion, a PE ratio of 225.60, a P/E/G ratio of 0.41 and a beta of 0.76. Incyte Co. has a 52-week low of $50.35 and a 52-week high of $83.95. The stock’s 50 day moving average price is $69.06 and its 200 day moving average price is $70.10. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last announced its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. On average, research analysts anticipate that Incyte Co. will post 4.86 EPS for the current year.

Insider Buying and Selling at Incyte

In related news, EVP Sheila A. Denton sold 14,069 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $74.07, for a total value of $1,042,090.83. Following the transaction, the executive vice president now owns 25,848 shares in the company, valued at $1,914,561.36. The trade was a 35.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Steven H. Stein sold 12,352 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total value of $897,866.88. Following the sale, the executive vice president now directly owns 66,967 shares of the company’s stock, valued at approximately $4,867,831.23. This represents a 15.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,827 shares of company stock worth $3,322,618. 17.60% of the stock is owned by company insiders.

Incyte Company 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.