Sumitomo Mitsui Trust Holdings Inc. raised its stake in Incyte Co. (NASDAQ:INCY – Free Report) by 0.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 750,766 shares of the biopharmaceutical company’s stock after buying an additional 5,411 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.34% of Incyte worth $54,258,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of INCY. Desjardins Global Asset Management Inc. raised its stake in Incyte by 22.7% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 687 shares of the biopharmaceutical company’s stock valued at $55,000 after purchasing an additional 127 shares during the period. 180 Wealth Advisors LLC raised its stake 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. Ontario Teachers Pension Plan Board raised its stake in Incyte by 1.0% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 14,555 shares of the biopharmaceutical company’s stock valued at $1,169,000 after purchasing an additional 149 shares during the period. D.A. Davidson & CO. raised its stake 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 raised its stake 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 own 97.53% of the company’s stock.
Analyst Ratings Changes
Several brokerages have issued reports on INCY. Morgan Stanley boosted their target price on shares of Incyte from $76.00 to $77.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 12th. Stifel Nicolaus dropped their price target on shares of Incyte from $80.00 to $73.00 in a research note on Wednesday, May 3rd. Mizuho dropped their price target on shares of Incyte from $95.00 to $82.00 in a research note on Wednesday, May 3rd. Royal Bank of Canada dropped their price target on shares of Incyte from $79.00 to $70.00 in a research note on Wednesday, May 3rd. Finally, SVB Securities raised shares of Incyte from an “underperform” rating to a “market perform” rating and set a $61.00 price target on the stock in a research note on Friday, March 24th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Incyte presently has an average rating of “Hold” and a consensus price target of $81.50.
Incyte Stock Up 1.0 %
Incyte (NASDAQ:INCY – Get Free Report) last issued its quarterly earnings results on Tuesday, May 2nd. The biopharmaceutical company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.50). The business had revenue of $808.67 million during the quarter, compared to analyst estimates of $871.17 million. Incyte had a net margin of 9.35% and a return on equity of 9.99%. As a group, equities research analysts anticipate that Incyte Co. will post 2.83 EPS 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, Europe, Japan, and internationally. The company offers JAKAFI (ruxolitinib), for the treatment of adults with intermediate or high-risk myelofibrosis; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab), for the treatment of adult patients with relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in various liquid and solid tumor types; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.
Read More
- Five stocks we like better than Incyte
- Green Hydrogen Stocks Getting Ready to Deliver Big Gains
- Charles Schwab Gets The Rebound, Time to Buy?
- Is Ebix Inc a Phygital E-Commerce Contender or Pretender?
- 3 Mid-Cap Stocks with Expectations for High-Earnings Growth
- Can Lockheed Martin Fly To A New High In 2023?
Want to see what other hedge funds are holding INCY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Incyte Co. (NASDAQ:INCY – Free Report).
Receive News & Ratings for Incyte Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte and related companies with MarketBeat.com's FREE daily email newsletter.
