Incyte Corporation $INCY Position Increased by Meiji Yasuda Life Insurance Co

Meiji Yasuda Life Insurance Co raised its stake in shares of Incyte Corporation (NASDAQ:INCY) by 12.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,526 shares of the biopharmaceutical company’s stock after buying an additional 1,740 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in Incyte were worth $940,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of INCY. Mercer Global Advisors Inc. ADV raised its holdings in Incyte by 131.4% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 7,624 shares of the biopharmaceutical company’s stock valued at $527,000 after buying an additional 4,329 shares in the last quarter. Captrust Financial Advisors raised its holdings in Incyte by 248.7% during the fourth quarter. Captrust Financial Advisors now owns 20,166 shares of the biopharmaceutical company’s stock valued at $1,393,000 after buying an additional 14,382 shares in the last quarter. Cetera Investment Advisers raised its holdings in Incyte by 10.8% during the fourth quarter. Cetera Investment Advisers now owns 13,288 shares of the biopharmaceutical company’s stock valued at $918,000 after buying an additional 1,294 shares in the last quarter. Deutsche Bank AG raised its holdings in Incyte by 22.6% during the fourth quarter. Deutsche Bank AG now owns 1,176,137 shares of the biopharmaceutical company’s stock valued at $81,236,000 after buying an additional 217,109 shares in the last quarter. Finally, Focus Partners Wealth raised its holdings in Incyte by 249.9% during the fourth quarter. Focus Partners Wealth now owns 12,073 shares of the biopharmaceutical company’s stock valued at $834,000 after buying an additional 8,623 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors.

Incyte Stock Down 0.1%

INCY stock opened at $86.56 on Tuesday. Incyte Corporation has a twelve month low of $53.56 and a twelve month high of $87.99. The company has a market cap of $16.90 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 0.68 and a beta of 0.75. The business’s 50-day simple moving average is $77.20 and its 200 day simple moving average is $68.74. The company has a quick ratio of 2.78, a current ratio of 2.85 and a debt-to-equity ratio of 0.01.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on INCY shares. UBS Group reaffirmed a “neutral” rating and issued a $68.00 price target (up from $62.00) on shares of Incyte in a research report on Wednesday, July 30th. Royal Bank Of Canada raised their target price on Incyte from $68.00 to $72.00 and gave the company a “sector perform” rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. raised their target price on Incyte from $67.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, August 22nd. Stifel Nicolaus raised Incyte from a “hold” rating to a “buy” rating and raised their target price for the company from $75.00 to $107.00 in a report on Monday, June 16th. Finally, BMO Capital Markets reaffirmed an “underperform” rating and issued a $60.00 target price (up previously from $52.00) on shares of Incyte in a report on Wednesday, July 30th. Seven analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Incyte has an average rating of “Hold” and an average price target of $82.53.

Insider Transactions at Incyte

In other Incyte news, EVP Sheila A. Denton sold 599 shares of Incyte stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $68.61, for a total transaction of $41,097.39. Following the sale, the executive vice president directly owned 26,504 shares of the company’s stock, valued at approximately $1,818,439.44. The trade was a 2.21% 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 Steven H. Stein sold 3,706 shares of Incyte stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $67.94, for a total value of $251,785.64. Following the sale, the executive vice president directly owned 102,886 shares in the company, valued at $6,990,074.84. The trade was a 3.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 56,098 shares of company stock valued at $3,836,196 in the last ninety days. 17.80% of the stock is owned by corporate insiders.

About Incyte

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.