Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Increases Stock Holdings in Incyte Co. (NASDAQ:INCY)

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Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Incyte Co. (NASDAQ:INCY) by 13.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,785 shares of the biopharmaceutical company’s stock after buying an additional 4,130 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Incyte were worth $2,788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in INCY. Massachusetts Financial Services Co. MA grew its stake in Incyte by 217.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 477,984 shares of the biopharmaceutical company’s stock worth $35,481,000 after buying an additional 327,456 shares during the last quarter. Pictet Asset Management Ltd. grew its stake in Incyte by 12.6% during the 3rd quarter. Pictet Asset Management Ltd. now owns 1,878,190 shares of the biopharmaceutical company’s stock worth $139,418,000 after buying an additional 209,772 shares during the last quarter. Mackay Shields LLC grew its stake in Incyte by 357.1% during the 3rd quarter. Mackay Shields LLC now owns 264,392 shares of the biopharmaceutical company’s stock worth $19,626,000 after buying an additional 206,552 shares during the last quarter. Millennium Management LLC grew its stake in Incyte by 270.1% during the 3rd quarter. Millennium Management LLC now owns 275,860 shares of the biopharmaceutical company’s stock worth $20,477,000 after buying an additional 201,321 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in Incyte during the 4th quarter worth $11,214,000. Hedge funds and other institutional investors own 91.06% of the company’s stock.

Several analysts have weighed in on INCY shares. BidaskClub downgraded Incyte from a “sell” rating to a “strong sell” rating in a research note on Saturday, January 25th. Bank of America reiterated a “neutral” rating and set a $82.00 price target on shares of Incyte in a research note on Tuesday, February 4th. Mizuho reiterated a “hold” rating and set a $79.00 price target on shares of Incyte in a research note on Thursday. Morgan Stanley dropped their price target on Incyte from $89.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Monday, January 6th. Finally, ValuEngine upgraded Incyte from a “sell” rating to a “hold” rating in a research note on Saturday, January 4th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $91.45.

In related news, EVP Barry P. Flannelly sold 2,142 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $90.00, for a total value of $192,780.00. Following the completion of the transaction, the executive vice president now owns 17,401 shares of the company’s stock, valued at approximately $1,566,090. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul Trower sold 15,000 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $93.76, for a total value of $1,406,400.00. In the last three months, insiders sold 42,142 shares of company stock valued at $3,931,005. Insiders own 17.10% of the company’s stock.

Shares of INCY stock opened at $78.45 on Friday. The stock has a market cap of $16.81 billion, a PE ratio of 36.30, a price-to-earnings-growth ratio of 0.88 and a beta of 1.06. The business has a 50-day simple moving average of $78.56 and a 200-day simple moving average of $82.10. The company has a quick ratio of 5.01, a current ratio of 5.02 and a debt-to-equity ratio of 0.02. Incyte Co. has a 52-week low of $71.84 and a 52-week high of $96.79.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Thursday, February 13th. The biopharmaceutical company reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.08. The business had revenue of $579.40 million during the quarter, compared to analysts’ expectations of $558.13 million. Incyte had a return on equity of 20.82% and a net margin of 20.70%. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 EPS. Sell-side analysts anticipate that Incyte Co. will post 2.79 earnings per share for the current fiscal year.

Incyte Company Profile

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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