Resona Asset Management Co. Ltd. Acquires Shares of 78,694 Incyte Co. (NASDAQ:INCY)

Resona Asset Management Co. Ltd. bought a new position in Incyte Co. (NASDAQ:INCY - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 78,694 shares of the biopharmaceutical company's stock, valued at approximately $5,436,000.

Several other large investors have also added to or reduced their stakes in INCY. Geode Capital Management LLC lifted its stake in Incyte by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 4,040,086 shares of the biopharmaceutical company's stock worth $278,346,000 after purchasing an additional 103,910 shares in the last quarter. Norges Bank bought a new stake in shares of Incyte in the fourth quarter worth about $121,890,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Incyte by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,643,067 shares of the biopharmaceutical company's stock worth $113,487,000 after acquiring an additional 33,847 shares in the last quarter. Pictet Asset Management Holding SA raised its position in shares of Incyte by 73.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,313,873 shares of the biopharmaceutical company's stock valued at $90,749,000 after buying an additional 556,218 shares in the last quarter. Finally, Sound Shore Management Inc. CT boosted its stake in Incyte by 98.4% during the fourth quarter. Sound Shore Management Inc. CT now owns 1,201,089 shares of the biopharmaceutical company's stock worth $82,959,000 after buying an additional 595,741 shares during the period. Hedge funds and other institutional investors own 96.97% of the company's stock.

Insider Buying and Selling

In other Incyte news, EVP Sheila A. Denton sold 599 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total transaction of $41,924.01. Following the sale, the executive vice president now owns 25,848 shares of the company's stock, valued at approximately $1,809,101.52. This trade represents a 2.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Barry P. Flannelly sold 19,807 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the completion of the transaction, the executive vice president now directly owns 33,567 shares in the company, valued at $2,272,150.23. This trade represents a 37.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,827 shares of company stock worth $3,322,618. Corporate insiders own 17.60% of the company's stock.

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Incyte Stock Up 2.2 %

Shares of NASDAQ:INCY traded up $1.25 during trading on Monday, hitting $58.12. The company's stock had a trading volume of 217,658 shares, compared to its average volume of 2,372,715. The company has a market capitalization of $11.25 billion, a PE ratio of 215.27, a P/E/G ratio of 0.41 and a beta of 0.89. 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 Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The business has a 50 day moving average price of $66.19 and a two-hundred day moving average price of $69.63.

Incyte (NASDAQ:INCY - Get Free Report) last announced its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a net margin of 0.77% and a return on equity of 0.05%. As a group, research analysts expect that Incyte Co. will post 4.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

INCY has been the topic of a number of analyst reports. StockNews.com cut Incyte from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, February 12th. Royal Bank of Canada cut their price target on Incyte from $70.00 to $68.00 and set a "sector perform" rating on the stock in a report on Tuesday, February 11th. Cantor Fitzgerald reissued a "neutral" rating on shares of Incyte in a research report on Friday, January 10th. William Blair cut Incyte from an "outperform" rating to a "market perform" rating in a research note on Tuesday, March 18th. Finally, Stifel Nicolaus upped their price objective on shares of Incyte from $75.00 to $77.00 and gave the company a "hold" rating in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $74.88.

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.