Incyte Corporation $INCY Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. trimmed its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 25.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,666 shares of the biopharmaceutical company’s stock after selling 14,396 shares during the period. Daiwa Securities Group Inc.’s holdings in Incyte were worth $4,115,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of INCY. Elyxium Wealth LLC acquired a new position in Incyte during the fourth quarter valued at approximately $28,000. Smithfield Trust Co lifted its position in Incyte by 135.0% during the fourth quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 162 shares in the last quarter. MUFG Securities EMEA plc acquired a new position in Incyte during the second quarter valued at approximately $32,000. CYBER HORNET ETFs LLC acquired a new position in Incyte during the second quarter valued at approximately $33,000. Finally, Leonteq Securities AG acquired a new position in Incyte during the fourth quarter valued at approximately $35,000. 96.97% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

INCY has been the topic of a number of recent research reports. UBS Group reduced their price target on shares of Incyte from $104.00 to $94.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 25th. Weiss Ratings raised shares of Incyte from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, April 1st. Oppenheimer reaffirmed a “market perform” rating and set a $107.00 price target on shares of Incyte in a research report on Monday. Barclays reaffirmed an “overweight” rating on shares of Incyte in a research report on Tuesday, March 24th. Finally, Citigroup reissued a “market perform” rating on shares of Incyte in a research report on Tuesday, June 2nd. Nine equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $104.85.

Trending Headlines about Incyte

Here are the key news stories impacting Incyte this week:

• Positive Sentiment: Incyte announced a definitive agreement to buy Vega Therapeutics for up to $2 billion, adding a late-stage bleeding-disorder asset to strengthen its hematology pipeline. Article Title
• Positive Sentiment: The deal is part of a broader push to bolster Incyte’s blood-disorder portfolio and diversify growth ahead of looming patent-expiry concerns for its key drug Jakafi. Article Title
• Neutral Sentiment: Multiple reports echoed the transaction and described it as a major biotech M&A move, reinforcing the market’s focus on pipeline expansion rather than operational weakness. Article Title

Incyte Trading Down 1.7%

NASDAQ INCY opened at $100.64 on Tuesday. The company’s fifty day simple moving average is $96.66 and its 200-day simple moving average is $99.03. Incyte Corporation has a 52 week low of $66.74 and a 52 week high of $112.29. The company has a current ratio of 3.68, a quick ratio of 3.60 and a debt-to-equity ratio of 0.01. The stock has a market cap of $20.11 billion, a P/E ratio of 14.21, a PEG ratio of 0.99 and a beta of 0.79.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.43. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the company posted $1.16 earnings per share. The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. Equities research analysts predict that Incyte Corporation will post 6.65 EPS for the current fiscal year.

Insider Activity at Incyte

In other news, insider Pablo J. Cagnoni sold 18,667 shares of the business’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $96.50, for a total transaction of $1,801,365.50. Following the transaction, the insider directly owned 262,692 shares of the company’s stock, valued at approximately $25,349,778. The trade was a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 16.20% of the company’s stock.

Incyte Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.