Securian Asset Management Inc. Has $1.25 Million Position in Incyte Co. (NASDAQ:INCY)

Posted by Defense World Staff on Apr 25th, 2023

Securian Asset Management Inc. increased its position in Incyte Co. (NASDAQ:INCY – Get Rating) by 2.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,509 shares of the biopharmaceutical company’s stock after buying an additional 369 shares during the quarter. Securian Asset Management Inc.’s holdings in Incyte were worth $1,246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Daiwa Securities Group Inc. increased its position in Incyte by 0.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 17,683 shares of the biopharmaceutical company’s stock valued at $1,178,000 after purchasing an additional 138 shares during the period. 180 Wealth Advisors LLC increased its position in Incyte by 4.0% during the 4th quarter. 180 Wealth Advisors LLC now owns 3,613 shares of the biopharmaceutical company’s stock valued at $311,000 after purchasing an additional 139 shares during the period. Vantage Consulting Group Inc increased its position in Incyte by 4.4% during the 3rd quarter. Vantage Consulting Group Inc now owns 3,561 shares of the biopharmaceutical company’s stock valued at $237,000 after purchasing an additional 150 shares during the period. D.A. Davidson & CO. increased its position in Incyte by 4.8% during the 1st quarter. D.A. Davidson & CO. now owns 3,300 shares of the biopharmaceutical company’s stock valued at $262,000 after purchasing an additional 150 shares during the period. Finally, Czech National Bank increased its position in Incyte by 0.8% during the 4th quarter. Czech National Bank now owns 21,614 shares of the biopharmaceutical company’s stock valued at $1,736,000 after purchasing an additional 168 shares during the period. Institutional investors and hedge funds own 95.08% of the company’s stock.

Incyte Price Performance

Shares of INCY opened at $75.25 on Tuesday. Incyte Co. has a 12-month low of $65.07 and a 12-month high of $86.29. The business’s fifty day moving average is $74.80 and its 200 day moving average is $77.29. The company has a quick ratio of 3.50, a current ratio of 3.54 and a debt-to-equity ratio of 0.01. The stock has a market cap of $16.78 billion, a P/E ratio of 49.51, a P/E/G ratio of 3.25 and a beta of 0.73.

Incyte (NASDAQ:INCY – Get Rating) last issued its earnings results on Tuesday, February 7th. The biopharmaceutical company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.03. Incyte had a return on equity of 11.45% and a net margin of 10.03%. The company had revenue of $926.70 million for the quarter, compared to analysts’ expectations of $880.25 million. During the same period last year, the business earned ($0.07) EPS. Incyte’s quarterly revenue was up 7.4% compared to the same quarter last year. Sell-side analysts anticipate that Incyte Co. will post 3.28 earnings per share for the current fiscal year.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Maria E. Pasquale sold 60,024 shares of the firm’s stock in a transaction on Monday, January 30th. The stock was sold at an average price of $84.74, for a total transaction of $5,086,433.76. Following the transaction, the executive vice president now directly owns 68,524 shares in the company, valued at approximately $5,806,723.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Incyte news, EVP Vijay K. Iyengar sold 7,000 shares of the firm’s stock in a transaction on Thursday, January 26th. The stock was sold at an average price of $85.00, for a total transaction of $595,000.00. Following the transaction, the executive vice president now directly owns 42,835 shares in the company, valued at approximately $3,640,975. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Maria E. Pasquale sold 60,024 shares of the firm’s stock in a transaction on Monday, January 30th. The shares were sold at an average price of $84.74, for a total value of $5,086,433.76. Following the transaction, the executive vice president now owns 68,524 shares in the company, valued at $5,806,723.76. The disclosure for this sale can be found here. Company insiders own 17.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. SVB Leerink reissued an “underperform” rating and set a $63.00 target price on shares of Incyte in a research report on Wednesday, February 8th. Royal Bank of Canada downgraded shares of Incyte from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $81.00 to $79.00 in a research report on Monday, April 10th. StockNews.com raised shares of Incyte from a “buy” rating to a “strong-buy” rating in a research report on Monday. Cowen raised their price objective on shares of Incyte from $95.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 8th. Finally, William Blair reaffirmed an “outperform” rating on shares of Incyte in a research report on Monday, March 20th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $85.43.

About Incyte

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Incyte Corp. is a biopharmaceutical company, which engages in the discovery, development, and commercialization of proprietary therapeutics. The company was founded in April 1991 and is headquartered in Wilmington, DE.