Mitsubishi UFJ Asset Management Co. Ltd. Raises Holdings in Incyte Co. (NASDAQ:INCY)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Incyte Co. (NASDAQ:INCY - Free Report) by 5.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 248,875 shares of the biopharmaceutical company's stock after buying an additional 13,026 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.13% of Incyte worth $17,329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Quintet Private Bank Europe S.A. bought a new stake in shares of Incyte in the 4th quarter worth approximately $26,000. Global X Japan Co. Ltd. lifted its stake in Incyte by 144.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company's stock worth $27,000 after purchasing an additional 230 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Incyte during the third quarter valued at about $30,000. R Squared Ltd bought a new position in shares of Incyte during the fourth quarter valued at about $30,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Incyte during the third quarter valued at about $33,000. 96.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on INCY. JMP Securities restated a "market perform" rating on shares of Incyte in a report on Tuesday, February 11th. Citigroup dropped their price objective on Incyte from $97.00 to $88.00 and set a "buy" rating for the company in a research note on Tuesday, February 11th. Royal Bank of Canada decreased their target price on shares of Incyte from $70.00 to $68.00 and set a "sector perform" rating on the stock in a research note on Tuesday, February 11th. UBS Group started coverage on shares of Incyte in a research report on Tuesday, December 17th. They set a "neutral" rating and a $77.00 price target for the company. Finally, Truist Financial decreased their price objective on shares of Incyte from $74.00 to $72.00 and set a "hold" rating on the stock in a research report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $74.88.

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Insiders Place Their Bets

In other news, EVP Barry P. Flannelly sold 19,807 shares of Incyte stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $67.69, for a total value of $1,340,735.83. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sheila A. Denton sold 599 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $69.99, for a total transaction of $41,924.01. Following the completion of the transaction, the executive vice president now owns 25,848 shares in the company, valued at approximately $1,809,101.52. The trade was a 2.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,827 shares of company stock worth $3,322,618. 17.60% of the stock is currently owned by company insiders.

Incyte Stock Down 3.0 %

Shares of INCY traded down $1.88 on Friday, reaching $60.58. The stock had a trading volume of 3,670,885 shares, compared to its average volume of 2,348,296. The firm has a market capitalization of $11.72 billion, a price-to-earnings ratio of 224.38, a price-to-earnings-growth ratio of 0.41 and a beta of 0.89. The company has a 50-day simple moving average of $68.41 and a 200-day simple moving average of $69.95. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97.

Incyte (NASDAQ:INCY - Get Free Report) last announced its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS for the quarter, missing analysts' consensus estimates of $1.57 by ($0.48). Incyte had a net margin of 0.77% and a return on equity of 0.05%. Sell-side analysts predict that Incyte Co. will post 4.86 EPS for the current year.

Incyte 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.