Nomura Holdings Inc. Buys 6,493 Shares of Incyte Corporation $INCY

Key Points

• Nomura Holdings Inc. increased its stake in Incyte Corporation by 72.4%, acquiring an additional 6,493 shares to reach a total of 15,461 shares valued at approximately $936,000.
• Institutional investors collectively own 96.97% of Incyte, with notable stakes raised by Vanguard Group, LSV Asset Management, and Invesco during the same quarter.
• Analysts hold varying opinions on Incyte, with a current average rating of "Hold" and a consensus target price of $81.60, indicating a mixed outlook for the stock.

Nomura Holdings Inc. raised its position in Incyte Corporation (NASDAQ:INCY - Free Report) by 72.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 15,461 shares of the biopharmaceutical company's stock after purchasing an additional 6,493 shares during the period. Nomura Holdings Inc.'s holdings in Incyte were worth $936,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Stifel Financial Corp raised its position in Incyte by 7.9% in the fourth quarter. Stifel Financial Corp now owns 10,176 shares of the biopharmaceutical company's stock worth $703,000 after acquiring an additional 745 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its position in shares of Incyte by 131.4% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 7,624 shares of the biopharmaceutical company's stock valued at $527,000 after buying an additional 4,329 shares during the last quarter. Algert Global LLC bought a new position in Incyte in the 4th quarter worth approximately $3,194,000. Captrust Financial Advisors grew its holdings in shares of Incyte by 248.7% in the 4th quarter. Captrust Financial Advisors now owns 20,166 shares of the biopharmaceutical company's stock worth $1,393,000 after acquiring an additional 14,382 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in Incyte by 10.8% in the 4th quarter. Cetera Investment Advisers now owns 13,288 shares of the biopharmaceutical company's stock valued at $918,000 after buying an additional 1,294 shares during the period. Institutional investors and hedge funds own 96.97% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on INCY. JPMorgan Chase & Co. upped their price objective on Incyte from $67.00 to $73.00 and gave the stock a "neutral" rating in a report on Friday, August 22nd. UBS Group reissued a "neutral" rating and set a $68.00 price target (up from $62.00) on shares of Incyte in a research report on Wednesday, July 30th. Wells Fargo & Company upgraded Incyte from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $67.00 to $89.00 in a research note on Wednesday, August 6th. BMO Capital Markets reissued an "underperform" rating and set a $60.00 price objective (up previously from $52.00) on shares of Incyte in a research note on Wednesday, July 30th. Finally, Stifel Nicolaus raised Incyte from a "hold" rating to a "buy" rating and increased their target price for the stock from $75.00 to $107.00 in a research note on Monday, June 16th. Seven analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Incyte currently has an average rating of "Hold" and a consensus target price of $82.53.

Insider Buying and Selling

In other Incyte news, EVP Vijay K. Iyengar sold 8,617 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $68.15, for a total value of $587,248.55. Following the sale, the executive vice president owned 37,701 shares of the company's stock, valued at $2,569,323.15. This trade represents a 18.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Barry P. Flannelly sold 10,903 shares of the stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $68.15, for a total transaction of $743,039.45. Following the completion of the transaction, the executive vice president owned 39,744 shares in the company, valued at $2,708,553.60. This represents a 21.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,098 shares of company stock valued at $3,836,196. 17.80% of the stock is currently owned by insiders.

Incyte Price Performance

NASDAQ:INCY traded down $0.57 during trading hours on Monday, hitting $86.08. The company's stock had a trading volume of 633,577 shares, compared to its average volume of 1,858,995. The business's 50-day moving average is $76.83 and its two-hundred day moving average is $68.64. The company has a market capitalization of $16.81 billion, a PE ratio of 19.58, a PEG ratio of 0.68 and a beta of 0.75. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.78 and a current ratio of 2.85. Incyte Corporation has a 52-week low of $53.56 and a 52-week high of $87.99.

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.