Incyte Co. (NASDAQ:INCY) Shares Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. increased its holdings in Incyte Co. (NASDAQ:INCY) by 12.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 23,064 shares of the biopharmaceutical company’s stock after buying an additional 2,599 shares during the period. Daiwa Securities Group Inc.’s holdings in Incyte were worth $1,448,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of INCY. Vontobel Holding Ltd. grew its position in Incyte by 1.2% in the 3rd quarter. Vontobel Holding Ltd. now owns 16,684 shares of the biopharmaceutical company’s stock worth $964,000 after purchasing an additional 195 shares during the last quarter. Allworth Financial LP grew its stake in shares of Incyte by 40.0% in the fourth quarter. Allworth Financial LP now owns 802 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 229 shares in the last quarter. MQS Management LLC raised its stake in shares of Incyte by 6.2% during the third quarter. MQS Management LLC now owns 5,581 shares of the biopharmaceutical company’s stock valued at $322,000 after purchasing an additional 327 shares in the last quarter. Treasurer of the State of North Carolina grew its position in Incyte by 0.4% in the 3rd quarter. Treasurer of the State of North Carolina now owns 89,217 shares of the biopharmaceutical company’s stock valued at $5,154,000 after buying an additional 335 shares in the last quarter. Finally, Covestor Ltd increased its stake in Incyte by 28.8% during the 3rd quarter. Covestor Ltd now owns 1,606 shares of the biopharmaceutical company’s stock valued at $93,000 after buying an additional 359 shares during the period. Institutional investors own 96.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on INCY shares. Citigroup lowered their price objective on shares of Incyte from $82.00 to $81.00 and set a “buy” rating on the stock in a research note on Wednesday, February 14th. Royal Bank of Canada reissued a “sector perform” rating and issued a $65.00 price target on shares of Incyte in a report on Monday, March 25th. Stifel Nicolaus lifted their price objective on shares of Incyte from $67.00 to $68.00 and gave the stock a “hold” rating in a research note on Wednesday, February 14th. BMO Capital Markets increased their target price on shares of Incyte from $58.00 to $64.00 and gave the company a “market perform” rating in a research note on Wednesday, February 14th. Finally, Truist Financial dropped their price target on Incyte from $91.00 to $84.00 and set a “buy” rating on the stock in a report on Wednesday, February 14th. Nine investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $76.07.

Incyte Price Performance

Shares of INCY opened at $51.65 on Wednesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.55 and a quick ratio of 3.36. The company has a market capitalization of $11.60 billion, a price-to-earnings ratio of 19.49, a P/E/G ratio of 1.21 and a beta of 0.65. The business’s 50-day moving average is $57.18 and its 200-day moving average is $57.82. Incyte Co. has a fifty-two week low of $50.27 and a fifty-two week high of $75.74.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.09). The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. Incyte had a net margin of 16.17% and a return on equity of 12.56%. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.44 EPS. Equities research analysts expect that Incyte Co. will post 3.85 EPS for the current fiscal 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 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.