Mirae Asset Global Investments Co. Ltd. reduced its stake in Incyte Co. (NASDAQ:INCY – Get Rating) by 23.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 58,708 shares of the biopharmaceutical company’s stock after selling 17,929 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Incyte were worth $4,715,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. General Partner Inc. acquired a new stake in Incyte in the 4th quarter worth approximately $25,000. Guardian Wealth Advisors LLC acquired a new stake in Incyte in the 3rd quarter worth approximately $29,000. CI Investments Inc. boosted its stake in Incyte by 76.7% in the 3rd quarter. CI Investments Inc. now owns 507 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 220 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in Incyte by 91.0% in the 1st quarter. Parkside Financial Bank & Trust now owns 447 shares of the biopharmaceutical company’s stock worth $36,000 after purchasing an additional 213 shares in the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new stake in Incyte in the 3rd quarter worth approximately $51,000. 95.08% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms recently commented on INCY. StockNews.com began coverage on shares of Incyte in a research note on Thursday, May 18th. They issued a “buy” rating for the company. Royal Bank of Canada decreased their price objective on shares of Incyte from $79.00 to $70.00 in a research note on Wednesday, May 3rd. SVB Leerink restated an “underperform” rating and set a $63.00 price objective on shares of Incyte in a research note on Wednesday, February 8th. JMP Securities decreased their price objective on shares of Incyte from $113.00 to $93.00 in a research note on Thursday, May 4th. Finally, VNET Group restated a “maintains” rating on shares of Incyte in a research note on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $81.50.
Incyte Price Performance
About Incyte
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.
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