Dai ichi Life Insurance Company Ltd Increases Holdings in Incyte Corporation $INCY

Dai ichi Life Insurance Company Ltd raised its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 60.3% in the first quarter, HoldingsChannel reports. The firm owned 15,971 shares of the biopharmaceutical company’s stock after buying an additional 6,008 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Incyte were worth $1,503,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of INCY. Elyxium Wealth LLC bought a new stake in shares of Incyte in the 4th quarter worth approximately $28,000. Smithfield Trust Co increased its stake in shares of 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 during the period. MUFG Securities EMEA plc bought a new position in shares of Incyte during the second quarter valued at approximately $32,000. CYBER HORNET ETFs LLC bought a new position in shares of Incyte during the second quarter valued at approximately $33,000. Finally, Leonteq Securities AG purchased a new stake in Incyte in the fourth quarter worth $35,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on INCY shares. Morgan Stanley lifted their price target on shares of Incyte from $103.00 to $104.00 and gave the company an “equal weight” rating in a report on Thursday. Weiss Ratings restated a “buy (b-)” rating on shares of Incyte in a report on Monday, June 29th. HC Wainwright reaffirmed a “buy” rating and issued a $140.00 target price on shares of Incyte in a research report on Tuesday, July 21st. Barclays lifted their target price on shares of Incyte from $117.00 to $134.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Finally, BMO Capital Markets boosted their price target on shares of Incyte from $94.00 to $112.00 and gave the company a “market perform” rating in a research report on Monday, July 13th. Eight research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $111.10.

Incyte Price Performance

Shares of NASDAQ:INCY opened at $117.67 on Monday. The business has a fifty day moving average price of $106.82 and a 200-day moving average price of $101.63. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.68 and a quick ratio of 3.60. The company has a market capitalization of $23.51 billion, a PE ratio of 16.62, a PEG ratio of 1.06 and a beta of 0.76. Incyte Corporation has a 1-year low of $69.69 and a 1-year high of $119.60.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share (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 company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the previous year, the business posted $1.16 EPS. Incyte’s revenue was up 20.9% compared to the same quarter last year. As a group, equities analysts expect that Incyte Corporation will post 6.63 EPS for the current fiscal year.

About Incyte

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.