Incyte Co. (INCY) Shares Bought by Sumitomo Mitsui Asset Management Company LTD
Sumitomo Mitsui Asset Management Company LTD grew its holdings in Incyte Co. (NASDAQ:INCY) by 1.9% during the first quarter, HoldingsChannel reports. The firm owned 12,184 shares of the biopharmaceutical company’s stock after acquiring an additional 222 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Incyte were worth $1,047,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. National Pension Service lifted its stake in Incyte by 4.7% in the 4th quarter. National Pension Service now owns 222,084 shares of the biopharmaceutical company’s stock worth $18,526,000 after purchasing an additional 9,960 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Incyte by 20.4% in the fourth quarter. Bank of Montreal Can now owns 239,587 shares of the biopharmaceutical company’s stock worth $15,236,000 after acquiring an additional 40,525 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its stake in shares of Incyte by 46.3% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 730 shares of the biopharmaceutical company’s stock worth $46,000 after purchasing an additional 231 shares in the last quarter. Norinchukin Bank The grew its stake in shares of Incyte by 45.2% during the fourth quarter. Norinchukin Bank The now owns 32,950 shares of the biopharmaceutical company’s stock worth $2,095,000 after purchasing an additional 10,256 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV grew its stake in shares of Incyte by 4.6% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 13,603 shares of the biopharmaceutical company’s stock worth $865,000 after purchasing an additional 595 shares in the last quarter. 92.20% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have issued reports on INCY. Argus upped their price objective on shares of Incyte from $83.00 to $98.00 and gave the company a “buy” rating in a research note on Monday, February 25th. Royal Bank of Canada cut shares of Incyte from an “outperform” rating to a “sector perform” rating and set a $89.00 target price for the company. in a report on Wednesday, April 3rd. They noted that the move was a valuation call. BidaskClub cut shares of Incyte from a “buy” rating to a “hold” rating in a report on Monday, April 1st. Oppenheimer set a $85.00 target price on shares of Incyte and gave the company a “hold” rating in a report on Sunday, April 7th. Finally, Raymond James set a $100.00 target price on shares of Incyte and gave the company a “buy” rating in a report on Friday, February 15th. Thirteen equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $91.07.
NASDAQ INCY traded down $0.38 during trading hours on Wednesday, hitting $78.30. 19,159 shares of the stock were exchanged, compared to its average volume of 1,446,056. The stock has a market capitalization of $16.78 billion, a P/E ratio of 95.46 and a beta of 1.31. Incyte Co. has a 12-month low of $57.00 and a 12-month high of $88.83. The company has a quick ratio of 5.21, a current ratio of 5.22 and a debt-to-equity ratio of 0.01.
Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.29. The firm had revenue of $497.86 million during the quarter, compared to analysts’ expectations of $488.00 million. Incyte had a net margin of 12.66% and a return on equity of 13.28%. The firm’s revenue for the quarter was up 30.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.01) earnings per share. On average, equities research analysts expect that Incyte Co. will post 1.78 earnings per share for the current fiscal year.
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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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