Incyte Corporation (INCY) Shares Bought by Daiwa Securities Group Inc.
Daiwa Securities Group Inc. raised its stake in shares of Incyte Corporation (NASDAQ:INCY) by 11.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,030 shares of the biopharmaceutical company’s stock after buying an additional 2,100 shares during the period. Daiwa Securities Group Inc.’s holdings in Incyte Corporation were worth $2,522,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the stock. Nisa Investment Advisors LLC increased its stake in Incyte Corporation by 42.0% in the first quarter. Nisa Investment Advisors LLC now owns 28,960 shares of the biopharmaceutical company’s stock worth $3,871,000 after buying an additional 8,560 shares during the last quarter. Boston Advisors LLC increased its stake in Incyte Corporation by 23.4% in the first quarter. Boston Advisors LLC now owns 163,480 shares of the biopharmaceutical company’s stock worth $21,852,000 after buying an additional 31,025 shares during the last quarter. DnB Asset Management AS increased its stake in Incyte Corporation by 14.8% in the first quarter. DnB Asset Management AS now owns 18,600 shares of the biopharmaceutical company’s stock worth $2,486,000 after buying an additional 2,400 shares during the last quarter. Gateway Investment Advisers LLC purchased a new stake in Incyte Corporation during the first quarter worth $1,538,000. Finally, Louisiana State Employees Retirement System purchased a new stake in Incyte Corporation during the first quarter worth $1,444,000. Hedge funds and other institutional investors own 91.73% of the company’s stock.
Incyte Corporation (INCY) opened at 130.70 on Wednesday. The stock’s 50 day moving average price is $130.84 and its 200-day moving average price is $128.99. The company’s market cap is $26.89 billion. Incyte Corporation has a 52 week low of $75.52 and a 52 week high of $153.15.
Incyte Corporation (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $326.40 million during the quarter, compared to the consensus estimate of $318.45 million. Incyte Corporation had a negative return on equity of 21.57% and a negative net margin of 11.77%. The company’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same period last year, the firm posted $0.18 EPS. On average, equities research analysts forecast that Incyte Corporation will post ($0.85) earnings per share for the current fiscal year.
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A number of equities research analysts have recently weighed in on INCY shares. BMO Capital Markets restated a “buy” rating and set a $172.00 target price on shares of Incyte Corporation in a research report on Friday, July 21st. Barclays PLC restated an “overweight” rating and set a $165.00 target price (down previously from $180.00) on shares of Incyte Corporation in a research report on Wednesday, August 2nd. TheStreet downgraded Incyte Corporation from a “c+” rating to a “d+” rating in a research report on Thursday, May 4th. SunTrust Banks, Inc. dropped their target price on Incyte Corporation from $160.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, April 19th. Finally, Jefferies Group LLC restated a “buy” rating and set a $148.00 target price on shares of Incyte Corporation in a research report on Tuesday, June 20th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $140.39.
In other Incyte Corporation news, insider Paul Trower sold 3,000 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $125.25, for a total transaction of $375,750.00. Following the sale, the insider now owns 11,853 shares of the company’s stock, valued at approximately $1,484,588.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Steven H. Stein sold 9,883 shares of the business’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $125.00, for a total transaction of $1,235,375.00. Following the sale, the executive vice president now directly owns 18,518 shares in the company, valued at approximately $2,314,750. The disclosure for this sale can be found here. Insiders sold a total of 48,183 shares of company stock worth $5,976,946 in the last ninety days. 17.70% of the stock is currently owned by insiders.
About Incyte Corporation
Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).
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