Meiji Yasuda Life Insurance Co Has $952,000 Holdings in Incyte Co. (NASDAQ:INCY)

Meiji Yasuda Life Insurance Co boosted its position in Incyte Co. (NASDAQ:INCY - Free Report) by 90.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,786 shares of the biopharmaceutical company's stock after acquiring an additional 6,533 shares during the quarter. Meiji Yasuda Life Insurance Co's holdings in Incyte were worth $952,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC lifted its position in Incyte by 8.1% during the 3rd quarter. Barclays PLC now owns 1,031,932 shares of the biopharmaceutical company's stock worth $68,208,000 after acquiring an additional 77,542 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Incyte by 18.3% in the fourth 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 period. Everence Capital Management Inc. acquired a new stake in Incyte during the 4th quarter valued at $265,000. Nordea Investment Management AB grew its holdings in Incyte by 9.2% during the 4th quarter. Nordea Investment Management AB now owns 13,738 shares of the biopharmaceutical company's stock valued at $945,000 after purchasing an additional 1,153 shares in the last quarter. Finally, CWA Asset Management Group LLC acquired a new position in Incyte in the 4th quarter worth $1,933,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

INCY has been the topic of a number of recent analyst reports. Truist Financial cut their target price on Incyte from $74.00 to $72.00 and set a "hold" rating on the stock in a research report on Tuesday, March 18th. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Incyte in a report on Friday, January 10th. Citigroup cut their target price on Incyte from $97.00 to $88.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. Royal Bank of Canada raised their target price on shares of Incyte from $64.00 to $67.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 30th. Finally, JMP Securities restated a "market perform" rating on shares of Incyte in a report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Incyte has a consensus rating of "Hold" and a consensus price target of $73.53.

Insider Transactions at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 19,807 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $67.69, for a total value of $1,340,735.83. Following the sale, the executive vice president now owns 33,567 shares of the company's stock, valued at $2,272,150.23. The trade was a 37.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Sheila A. Denton sold 599 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total value of $41,924.01. Following the completion of the sale, the executive vice president now directly owns 25,848 shares in the company, valued at approximately $1,809,101.52. This represents a 2.26 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,475 shares of company stock worth $2,424,751. 17.60% of the stock is currently owned by company insiders.

Incyte Stock Performance

INCY stock traded down $0.42 during midday trading on Monday, hitting $62.11. 1,819,461 shares of the company traded hands, compared to its average volume of 2,358,397. The business has a 50 day simple moving average of $62.29 and a 200-day simple moving average of $68.86. 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 Co. has a twelve month low of $52.81 and a twelve month high of $83.95. The stock has a market capitalization of $12.02 billion, a price-to-earnings ratio of 230.05, a price-to-earnings-growth ratio of 0.41 and a beta of 0.68.

Incyte (NASDAQ:INCY - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.15. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $996.17 million. Incyte had a return on equity of 0.05% and a net margin of 0.77%. The firm's revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 earnings per share. As a group, equities research analysts predict that Incyte Co. will post 4.86 earnings per share for the current year.

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.