Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Incyte Corporation (NASDAQ:INCY - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 412,258 shares of the biopharmaceutical company's stock, valued at approximately $46,734,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.20% of Incyte at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Elyxium Wealth LLC bought a new stake in Incyte during the fourth quarter worth $28,000. Smithfield Trust Co raised its holdings in shares of Incyte by 135.0% during the 4th quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company's stock worth $28,000 after buying an additional 162 shares in the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Incyte during the 4th quarter worth $35,000. Atlas Capital Advisors Inc. acquired a new stake in Incyte in the fourth quarter valued at about $35,000. Finally, Leonteq Securities AG acquired a new stake in Incyte in the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 96.97% of the company's stock.
Insider Transactions at Incyte
In other Incyte news, EVP Patrick A. Mayes sold 41,899 shares of Incyte stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $119.46, for a total transaction of $5,005,254.54. Following the transaction, the executive vice president directly owned 61,441 shares of the company's stock, valued at approximately $7,339,741.86. The trade was a 40.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.20% of the stock is currently owned by corporate insiders.
Incyte Price Performance
Incyte stock opened at $128.47 on Thursday. The business has a 50 day moving average of $115.40 and a 200-day moving average of $103.81. The company has a market capitalization of $26.04 billion, a P/E ratio of 16.37, a P/E/G ratio of 3.91 and a beta of 0.76. Incyte Corporation has a 1 year low of $81.09 and a 1 year high of $132.60.
Incyte (NASDAQ:INCY - Get Free Report) last posted its earnings results on Tuesday, July 28th. The biopharmaceutical company reported $3.09 EPS for the quarter, topping the consensus estimate of $2.15 by $0.94. The business had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.50 billion. Incyte had a net margin of 27.71% and a return on equity of 29.93%. The firm's revenue was up 37.7% compared to the same quarter last year. During the same period last year, the company earned $1.57 EPS. Equities analysts anticipate that Incyte Corporation will post 2.61 EPS for the current year.
Analysts Set New Price Targets
A number of research firms have recently commented on INCY. Royal Bank Of Canada increased their target price on shares of Incyte from $99.00 to $109.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 29th. Morgan Stanley set a $119.00 price objective on shares of Incyte in a research note on Wednesday, July 29th. Wall Street Zen cut shares of Incyte from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Piper Sandler upped their price target on shares of Incyte from $110.00 to $130.00 and gave the stock an "overweight" rating in a report on Monday. Finally, Guggenheim increased their price target on Incyte from $136.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, July 29th. Ten research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat, Incyte has an average rating of "Hold" and an average target price of $121.65.
Get Our Latest Report on INCY
Incyte Profile
(
Free Report)
Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company's research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.
The company's flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.
See Also
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