Tokio Marine Asset Management Co. Ltd. Acquires 1,145 Shares of Incyte Co. (NASDAQ:INCY)

Tokio Marine Asset Management Co. Ltd. increased its holdings in Incyte Co. (NASDAQ:INCY) by 21.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,406 shares of the biopharmaceutical company’s stock after acquiring an additional 1,145 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Incyte were worth $423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. MFA Wealth Advisors LLC bought a new position in shares of Incyte during the second quarter valued at approximately $26,000. Innealta Capital LLC bought a new position in Incyte during the 2nd quarter valued at approximately $32,000. Itau Unibanco Holding S.A. purchased a new position in Incyte during the second quarter valued at $36,000. Deseret Mutual Benefit Administrators boosted its holdings in Incyte by 37.1% in the second quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 164 shares in the last quarter. Finally, Cromwell Holdings LLC grew its stake in shares of Incyte by 101.1% in the third quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock worth $37,000 after acquiring an additional 283 shares during the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Stock Down 2.4 %

INCY opened at $75.87 on Friday. The firm’s 50 day simple moving average is $68.99 and its two-hundred day simple moving average is $63.75. The company has a market capitalization of $14.62 billion, a PE ratio of 541.97, a PEG ratio of 9.28 and a beta of 0.71. Incyte Co. has a 1-year low of $50.35 and a 1-year high of $83.95. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. Incyte’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.91 earnings per share. As a group, equities analysts forecast that Incyte Co. will post 0.4 EPS for the current year.

Insider Activity at Incyte

In related news, EVP Jonathan Elliott Dickinson sold 8,450 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.36, for a total value of $526,942.00. Following the completion of the transaction, the executive vice president now owns 36,390 shares of the company’s stock, valued at approximately $2,269,280.40. This represents a 18.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Thomas Tray sold 572 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $62.94, for a total value of $36,001.68. Following the completion of the sale, the insider now owns 24,825 shares of the company’s stock, valued at $1,562,485.50. The trade was a 2.25 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,702 shares of company stock worth $856,166. 17.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Citigroup lifted their price target on Incyte from $92.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on shares of Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group raised their price target on shares of Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. William Blair reaffirmed an “outperform” rating on shares of Incyte in a research report on Monday, September 9th. Finally, Truist Financial reiterated a “hold” rating and set a $74.00 target price (down from $83.00) on shares of Incyte in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $77.16.

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.