Nomura Asset Management Co. Ltd. cut its holdings in shares of Incyte Co. (NASDAQ:INCY) by 12.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 37,852 shares of the biopharmaceutical company’s stock after selling 5,288 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Incyte were worth $2,536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. Tyers Asset Management LLC boosted its position in shares of Incyte by 22.0% during the first quarter. Tyers Asset Management LLC now owns 4,976 shares of the biopharmaceutical company’s stock valued at $415,000 after buying an additional 896 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Incyte by 34.6% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,500 shares of the biopharmaceutical company’s stock valued at $292,000 after buying an additional 900 shares during the last quarter. First Mercantile Trust Co. boosted its position in shares of Incyte by 75.8% during the second quarter. First Mercantile Trust Co. now owns 2,157 shares of the biopharmaceutical company’s stock valued at $145,000 after buying an additional 930 shares during the last quarter. Assetmark Inc. boosted its position in shares of Incyte by 221.5% during the first quarter. Assetmark Inc. now owns 1,405 shares of the biopharmaceutical company’s stock valued at $117,000 after buying an additional 968 shares during the last quarter. Finally, Blackhawk Capital Partners LLC. boosted its position in shares of Incyte by 162.5% during the first quarter. Blackhawk Capital Partners LLC. now owns 1,575 shares of the biopharmaceutical company’s stock valued at $131,000 after buying an additional 975 shares during the last quarter. 93.09% of the stock is currently owned by institutional investors.

NASDAQ INCY opened at $68.80 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.32 and a current ratio of 4.34. Incyte Co. has a 52 week low of $60.22 and a 52 week high of $140.11. The stock has a market capitalization of $13.70 billion, a PE ratio of 107.50 and a beta of 0.71.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, July 31st. The biopharmaceutical company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.04 by $0.22. Incyte had a positive return on equity of 1.74% and a negative net margin of 5.92%. The firm had revenue of $521.50 million for the quarter, compared to the consensus estimate of $510.70 million. During the same quarter last year, the company earned ($0.06) earnings per share. The business’s revenue for the quarter was up 59.8% compared to the same quarter last year. equities analysts predict that Incyte Co. will post 0.43 EPS for the current fiscal year.

In other news, EVP Vijay K. Iyengar sold 606 shares of the firm’s stock in a transaction dated Monday, July 9th. The stock was sold at an average price of $71.34, for a total value of $43,232.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 17.20% of the stock is owned by company insiders.

A number of research analysts have weighed in on INCY shares. JMP Securities downgraded Incyte from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 1st. Evercore ISI raised Incyte from an “in-line” rating to an “outperform” rating and increased their target price for the company from $60.23 to $140.11 in a report on Monday, June 11th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $88.00 target price on shares of Incyte in a report on Wednesday, August 1st. Royal Bank of Canada raised Incyte from a “sector perform” rating to an “outperform” rating and set a $74.00 target price on the stock in a report on Wednesday. They noted that the move was a valuation call. Finally, Oppenheimer set a $65.00 target price on Incyte and gave the company a “hold” rating in a report on Friday, June 1st. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $104.23.

About Incyte

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States. It offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and ICLUSIG, a kinase inhibitor for the treatment of 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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