Incyte Corporation (NASDAQ:INCY) Shares Bought by Dai Ichi Life Insurance Company Ltd

Dai Ichi Life Insurance Company Ltd increased its stake in shares of Incyte Corporation (NASDAQ:INCY) by 48.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 60,873 shares of the biopharmaceutical company’s stock after purchasing an additional 19,813 shares during the quarter. Dai Ichi Life Insurance Company Ltd’s holdings in Incyte were worth $7,106,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of INCY. Vanguard Group Inc. raised its position in Incyte by 11.1% in the second quarter. Vanguard Group Inc. now owns 17,125,542 shares of the biopharmaceutical company’s stock worth $2,156,276,000 after acquiring an additional 1,709,685 shares in the last quarter. Capital International Investors increased its position in shares of Incyte by 4.0% in the second quarter. Capital International Investors now owns 6,407,197 shares of the biopharmaceutical company’s stock valued at $806,730,000 after buying an additional 246,134 shares in the last quarter. BB Biotech AG increased its position in shares of Incyte by 0.7% in the second quarter. BB Biotech AG now owns 3,514,822 shares of the biopharmaceutical company’s stock valued at $442,551,000 after buying an additional 25,000 shares in the last quarter. Matrix Capital Management Company LP increased its position in shares of Incyte by 28.3% in the second quarter. Matrix Capital Management Company LP now owns 1,796,716 shares of the biopharmaceutical company’s stock valued at $226,225,000 after buying an additional 396,716 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in shares of Incyte by 10.7% in the second quarter. UBS Asset Management Americas Inc. now owns 1,636,035 shares of the biopharmaceutical company’s stock valued at $205,993,000 after buying an additional 158,574 shares in the last quarter. 90.86% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Bros. Advisors Lp Baker acquired 100,000 shares of Incyte stock in a transaction that occurred on Friday, September 8th. The stock was acquired at an average price of $132.00 per share, for a total transaction of $13,200,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Barry P. Flannelly sold 714 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $124.25, for a total value of $88,714.50. Following the transaction, the executive vice president now owns 15,496 shares of the company’s stock, valued at approximately $1,925,378. The disclosure for this sale can be found here. Insiders sold a total of 104,334 shares of company stock valued at $11,992,011 over the last quarter. Company insiders own 17.70% of the company’s stock.

A number of analysts recently commented on INCY shares. Raymond James Financial upgraded Incyte from a “market perform” rating to an “outperform” rating and set a $159.00 price objective for the company in a research report on Monday, September 11th. J P Morgan Chase & Co reiterated a “buy” rating and set a $149.00 price objective on shares of Incyte in a research report on Thursday, August 31st. Oppenheimer reiterated a “hold” rating and set a $135.00 price objective on shares of Incyte in a research report on Thursday, August 31st. BMO Capital Markets reiterated an “outperform” rating and set a $172.00 price objective on shares of Incyte in a research report on Monday, August 28th. Finally, Argus reissued a “buy” rating and issued a $150.00 price target on shares of Incyte in a research note on Wednesday, September 13th. One analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $145.65.

Shares of Incyte Corporation (NASDAQ:INCY) opened at $93.71 on Wednesday. The company has a quick ratio of 4.81, a current ratio of 4.82 and a debt-to-equity ratio of 0.01. Incyte Corporation has a twelve month low of $93.49 and a twelve month high of $153.15.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.11. Incyte had a negative return on equity of 12.91% and a negative net margin of 10.90%. The company had revenue of $381.50 million for the quarter, compared to the consensus estimate of $360.34 million. During the same period in the previous year, the business earned $0.19 EPS. Incyte’s revenue for the quarter was up 41.6% compared to the same quarter last year. sell-side analysts predict that Incyte Corporation will post -1.33 earnings per share for the current year.

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Incyte Company Profile

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).

Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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