Nomura Holdings Inc. Acquires Shares of 8,968 Incyte Co. (NASDAQ:INCY)

Nomura Holdings Inc. acquired a new stake in shares of Incyte Co. (NASDAQ:INCY) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,968 shares of the biopharmaceutical company’s stock, valued at approximately $619,000.

Several other institutional investors have also added to or reduced their stakes in the company. Retirement Systems of Alabama raised its position in Incyte by 0.4% during the fourth quarter. Retirement Systems of Alabama now owns 34,620 shares of the biopharmaceutical company’s stock valued at $2,391,000 after purchasing an additional 139 shares in the last quarter. Trust Point Inc. raised its position in Incyte by 5.0% during the fourth quarter. Trust Point Inc. now owns 3,282 shares of the biopharmaceutical company’s stock valued at $227,000 after purchasing an additional 156 shares in the last quarter. Bank of Nova Scotia raised its position in Incyte by 0.8% during the fourth quarter. Bank of Nova Scotia now owns 21,694 shares of the biopharmaceutical company’s stock valued at $1,498,000 after purchasing an additional 171 shares in the last quarter. Mather Group LLC. raised its position in Incyte by 26.4% during the fourth quarter. Mather Group LLC. now owns 828 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 173 shares in the last quarter. Finally, Catalyst Financial Partners LLC raised its position in Incyte by 2.7% during the fourth quarter. Catalyst Financial Partners LLC now owns 7,493 shares of the biopharmaceutical company’s stock valued at $518,000 after purchasing an additional 200 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Incyte Stock Performance

Shares of INCY opened at $65.30 on Wednesday. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $12.64 billion, a P/E ratio of 241.86, a price-to-earnings-growth ratio of 0.41 and a beta of 0.68. The firm’s fifty day simple moving average is $60.37 and its two-hundred day simple moving average is $68.28. Incyte Co. has a 12 month low of $53.56 and a 12 month high of $83.95.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.15. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $996.17 million. Incyte had a net margin of 0.77% and a return on equity of 0.05%. The business’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 EPS. As a group, analysts predict that Incyte Co. will post 4.86 EPS for the current year.

Insider Transactions at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 19,807 shares of the business’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the completion of the sale, the executive vice president now owns 33,567 shares in the company, valued at approximately $2,272,150.23. The trade was a 37.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Sheila A. Denton sold 599 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total transaction of $41,924.01. Following the sale, the executive vice president now owns 25,848 shares of the company’s stock, valued at $1,809,101.52. This trade represents a 2.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,475 shares of company stock valued at $2,424,751 in the last 90 days. 17.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on INCY shares. William Blair downgraded shares of Incyte from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 18th. Stifel Nicolaus raised their price objective on Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a report on Monday, February 10th. JMP Securities restated a “market perform” rating on shares of Incyte in a research report on Tuesday, February 11th. Morgan Stanley reduced their price objective on Incyte from $69.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Monday, March 24th. Finally, Guggenheim lowered Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price objective on the stock. in a research report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Incyte has a consensus rating of “Hold” and a consensus target price of $73.53.

Incyte Company Profile

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.