Incyte Co. (NASDAQ:INCY) Shares Purchased by Mizuho Securities USA LLC

Mizuho Securities USA LLC grew its holdings in Incyte Co. (NASDAQ:INCY - Free Report) by 13,814.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,000,100 shares of the biopharmaceutical company's stock after buying an additional 1,985,726 shares during the quarter. Mizuho Securities USA LLC owned 1.04% of Incyte worth $132,207,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. CIBC Asset Management Inc lifted its holdings in Incyte by 2.9% in the 3rd quarter. CIBC Asset Management Inc now owns 25,303 shares of the biopharmaceutical company's stock valued at $1,673,000 after purchasing an additional 723 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Incyte by 21.8% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,406 shares of the biopharmaceutical company's stock valued at $423,000 after purchasing an additional 1,145 shares during the period. Haverford Trust Co increased its position in Incyte by 1.8% during the third quarter. Haverford Trust Co now owns 7,796 shares of the biopharmaceutical company's stock worth $515,000 after purchasing an additional 135 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in Incyte by 26.5% in the 3rd quarter. GSA Capital Partners LLP now owns 6,453 shares of the biopharmaceutical company's stock valued at $427,000 after purchasing an additional 1,351 shares during the last quarter. Finally, Venturi Wealth Management LLC purchased a new stake in shares of Incyte in the 3rd quarter valued at approximately $65,000. 96.97% of the stock is owned by institutional investors and hedge funds.

Incyte Stock Performance

NASDAQ:INCY traded down $1.86 during mid-day trading on Friday, reaching $75.87. 3,842,709 shares of the stock were exchanged, compared to its average volume of 2,342,010. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. Incyte Co. has a 1 year low of $50.35 and a 1 year high of $83.95. The company has a 50 day simple moving average of $68.99 and a 200-day simple moving average of $63.75. The stock has a market capitalization of $14.62 billion, a P/E ratio of 541.97, a P/E/G ratio of 9.28 and a beta of 0.71.

Incyte (NASDAQ:INCY - Get Free Report) last announced its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.19 by ($0.12). The business had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The business's revenue was up 23.8% on a year-over-year basis. During the same quarter last year, the business posted $0.91 earnings per share. Analysts anticipate that Incyte Co. will post 0.4 earnings per share for the current fiscal year.

Insider Activity

In other Incyte news, insider Thomas Tray sold 572 shares of the business's stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total value of $36,001.68. Following the transaction, the insider now directly owns 24,825 shares of the company's stock, valued at approximately $1,562,485.50. The trade was a 2.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Barry P. Flannelly sold 3,680 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total transaction of $293,222.40. Following the completion of the sale, the executive vice president now owns 58,042 shares of the company's stock, valued at $4,624,786.56. This trade represents a 5.96 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,702 shares of company stock valued at $856,166. Insiders own 17.60% of the company's stock.

Wall Street Analysts Forecast Growth

INCY has been the subject of several analyst reports. Royal Bank of Canada increased their price objective on Incyte from $72.00 to $80.00 and gave the stock a "sector perform" rating in a research report on Thursday. Wells Fargo & Company increased their price target on Incyte from $62.00 to $68.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Oppenheimer boosted their price objective on shares of Incyte from $81.00 to $82.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Wolfe Research started coverage on shares of Incyte in a research note on Tuesday, October 1st. They set an "outperform" rating and a $84.00 target price for the company. Finally, Bank of America upgraded shares of Incyte from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $68.00 to $90.00 in a report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $77.16.

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.