Nikko Asset Management Americas Inc. Buys 94,908 Shares of Incyte Co. (NASDAQ:INCY)

Nikko Asset Management Americas Inc. increased its stake in shares of Incyte Co. (NASDAQ:INCY) by 152.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 157,143 shares of the biopharmaceutical company’s stock after buying an additional 94,908 shares during the period. Nikko Asset Management Americas Inc. owned 0.07% of Incyte worth $13,351,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in shares of Incyte by 1.2% during the 1st quarter. BlackRock Inc. now owns 15,453,453 shares of the biopharmaceutical company’s stock worth $1,329,154,000 after buying an additional 190,491 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Incyte by 7.6% during the 4th quarter. Geode Capital Management LLC now owns 2,360,606 shares of the biopharmaceutical company’s stock worth $149,854,000 after buying an additional 166,510 shares during the period. Northern Trust Corp boosted its holdings in Incyte by 2.1% in the 1st quarter. Northern Trust Corp now owns 2,014,831 shares of the biopharmaceutical company’s stock valued at $173,296,000 after purchasing an additional 41,396 shares during the period. OppenheimerFunds Inc. boosted its holdings in Incyte by 0.4% in the 1st quarter. OppenheimerFunds Inc. now owns 1,737,259 shares of the biopharmaceutical company’s stock valued at $149,421,000 after purchasing an additional 7,215 shares during the period. Finally, First Trust Advisors LP boosted its holdings in Incyte by 7.0% in the 1st quarter. First Trust Advisors LP now owns 1,585,118 shares of the biopharmaceutical company’s stock valued at $136,336,000 after purchasing an additional 103,479 shares during the period. 90.43% of the stock is owned by institutional investors and hedge funds.

A number of research firms have issued reports on INCY. JPMorgan Chase & Co. reissued a “buy” rating and issued a $91.00 price objective on shares of Incyte in a report on Wednesday, July 31st. BidaskClub raised shares of Incyte from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. Zacks Investment Research downgraded shares of Incyte from a “strong-buy” rating to a “hold” rating in a report on Monday, April 29th. Cowen reissued a “buy” rating on shares of Incyte in a report on Sunday, August 4th. Finally, Nomura boosted their price objective on shares of Incyte from $100.00 to $111.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Twelve equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Incyte currently has a consensus rating of “Buy” and a consensus price target of $89.67.

In related news, EVP Steven H. Stein sold 8,357 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $87.96, for a total transaction of $735,081.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paul A. Friedman sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $82.69, for a total transaction of $8,269,000.00. Following the transaction, the director now owns 277,597 shares of the company’s stock, valued at $22,954,495.93. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 116,040 shares of company stock valued at $9,627,376. 17.10% of the stock is owned by corporate insiders.

Shares of NASDAQ:INCY traded up $1.27 during midday trading on Friday, hitting $82.53. The stock had a trading volume of 42,667 shares, compared to its average volume of 1,111,089. The stock has a 50-day moving average price of $83.14. The company has a market capitalization of $17.38 billion, a P/E ratio of 100.55 and a beta of 1.12. The company has a quick ratio of 5.59, a current ratio of 5.61 and a debt-to-equity ratio of 0.02. Incyte Co. has a fifty-two week low of $57.00 and a fifty-two week high of $89.30.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.38 by $0.37. The company had revenue of $529.93 million during the quarter, compared to analysts’ expectations of $498.57 million. Incyte had a net margin of 15.25% and a return on equity of 17.10%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.63 EPS. As a group, equities research analysts expect that Incyte Co. will post 1.98 earnings per share for the current fiscal year.

Incyte Company Profile

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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