Meiji Yasuda Asset Management Co Ltd. Sells 290 Shares of Incyte Co. (NASDAQ:INCY)

Meiji Yasuda Asset Management Co Ltd. cut its position in Incyte Co. (NASDAQ:INCY – Get Rating) by 1.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,973 shares of the biopharmaceutical company’s stock after selling 290 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Incyte were worth $1,331,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in INCY. Cetera Advisor Networks LLC raised its stake in shares of Incyte by 7.4% in the first quarter. Cetera Advisor Networks LLC now owns 5,265 shares of the biopharmaceutical company’s stock valued at $418,000 after buying an additional 362 shares during the period. Private Advisor Group LLC purchased a new position in shares of Incyte in the first quarter valued at $323,000. D.A. Davidson & CO. grew its position in shares of Incyte by 4.8% in the first quarter. D.A. Davidson & CO. now owns 3,300 shares of the biopharmaceutical company’s stock valued at $262,000 after purchasing an additional 150 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Incyte by 6.8% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,172 shares of the biopharmaceutical company’s stock valued at $1,999,000 after purchasing an additional 1,605 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Incyte by 7.8% in the first quarter. Dimensional Fund Advisors LP now owns 596,022 shares of the biopharmaceutical company’s stock valued at $47,338,000 after purchasing an additional 43,168 shares in the last quarter. 95.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Maria E. Pasquale sold 60,024 shares of the company’s stock in a transaction that occurred on Monday, January 30th. The stock was sold at an average price of $84.74, for a total transaction of $5,086,433.76. Following the completion of the transaction, the executive vice president now owns 68,524 shares of the company’s stock, valued at approximately $5,806,723.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Incyte news, EVP Vijay K. Iyengar sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, January 26th. The stock was sold at an average price of $85.00, for a total transaction of $595,000.00. Following the transaction, the executive vice president now owns 42,835 shares in the company, valued at approximately $3,640,975. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Maria E. Pasquale sold 60,024 shares of the company’s stock in a transaction that occurred on Monday, January 30th. The stock was sold at an average price of $84.74, for a total value of $5,086,433.76. Following the transaction, the executive vice president now owns 68,524 shares in the company, valued at approximately $5,806,723.76. The disclosure for this sale can be found here. Insiders sold 113,970 shares of company stock valued at $9,447,367 in the last 90 days. Insiders own 17.50% of the company’s stock.

Incyte Trading Up 1.1 %

NASDAQ INCY opened at $74.00 on Wednesday. Incyte Co. has a 1-year low of $65.07 and a 1-year high of $86.29. The company has a current ratio of 3.54, a quick ratio of 3.50 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average of $79.85 and a 200-day moving average of $76.45. The firm has a market cap of $16.50 billion, a PE ratio of 48.68, a price-to-earnings-growth ratio of 0.61 and a beta of 0.74.

Incyte (NASDAQ:INCY – Get Rating) last released its earnings results on Tuesday, February 7th. The biopharmaceutical company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.03. Incyte had a return on equity of 11.45% and a net margin of 10.03%. The company had revenue of $926.70 million during the quarter, compared to analyst estimates of $880.25 million. During the same quarter in the previous year, the company posted ($0.07) EPS. Incyte’s revenue for the quarter was up 7.4% on a year-over-year basis. As a group, sell-side analysts forecast that Incyte Co. will post 3.29 EPS for the current year.

Wall Street Analyst Weigh In

INCY has been the subject of several recent research reports. Mizuho reiterated a “neutral” rating and issued a $95.00 price target on shares of Incyte in a research report on Wednesday, February 8th. Wells Fargo & Company boosted their target price on Incyte from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 3rd. StockNews.com upgraded Incyte from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 8th. JPMorgan Chase & Co. reduced their target price on Incyte from $82.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, February 8th. Finally, Credit Suisse Group boosted their target price on Incyte from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, February 16th. One analyst has rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Incyte currently has an average rating of “Hold” and an average target price of $87.54.

Incyte Profile

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Incyte Corp. is a biopharmaceutical company, which engages in the discovery, development, and commercialization of proprietary therapeutics. The company was founded in April 1991 and is headquartered in Wilmington, DE.