Mitsubishi UFJ Kokusai Asset Management Co. Ltd. decreased its stake in shares of Incyte Corporation (NASDAQ:INCY) by 8.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,227 shares of the biopharmaceutical company’s stock after selling 2,822 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Incyte Corporation were worth $3,680,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its stake in shares of Incyte Corporation by 110.7% in the first quarter. State Street Corp now owns 7,581,684 shares of the biopharmaceutical company’s stock valued at $1,013,437,000 after buying an additional 3,983,207 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Incyte Corporation by 22.7% in the first quarter. Vanguard Group Inc. now owns 15,415,857 shares of the biopharmaceutical company’s stock valued at $2,060,638,000 after buying an additional 2,847,907 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of Incyte Corporation during the first quarter valued at approximately $85,751,000. Geode Capital Management LLC raised its stake in shares of Incyte Corporation by 42.0% in the first quarter. Geode Capital Management LLC now owns 1,780,064 shares of the biopharmaceutical company’s stock valued at $237,618,000 after buying an additional 526,163 shares during the last quarter. Finally, Morgan Stanley raised its stake in shares of Incyte Corporation by 117.6% in the first quarter. Morgan Stanley now owns 776,654 shares of the biopharmaceutical company’s stock valued at $103,815,000 after buying an additional 419,732 shares during the last quarter. 91.73% of the stock is owned by hedge funds and other institutional investors.

Shares of Incyte Corporation (NASDAQ INCY) opened at 124.10 on Friday. The company has a 50-day moving average of $130.96 and a 200 day moving average of $129.40. Incyte Corporation has a one year low of $75.52 and a one year high of $153.15. The stock’s market capitalization is $25.53 billion.

Incyte Corporation (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by $0.01. Incyte Corporation had a negative return on equity of 21.57% and a negative net margin of 11.77%. The business had revenue of $326.40 million during the quarter, compared to analyst estimates of $318.45 million. During the same period in the previous year, the business posted $0.18 earnings per share. The firm’s quarterly revenue was up 32.5% on a year-over-year basis. Equities research analysts forecast that Incyte Corporation will post ($0.89) earnings per share for the current fiscal year.

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INCY has been the subject of several recent analyst reports. Piper Jaffray Companies reissued a “neutral” rating and issued a $124.00 price target on shares of Incyte Corporation in a report on Monday, April 17th. Jefferies Group LLC reissued a “buy” rating and issued a $148.00 price target (down previously from $165.00) on shares of Incyte Corporation in a report on Monday, April 17th. Raymond James Financial, Inc. reissued a “hold” rating on shares of Incyte Corporation in a report on Monday, April 17th. Vetr raised shares of Incyte Corporation from a “buy” rating to a “strong-buy” rating and set a $151.58 price target for the company in a report on Monday, April 17th. Finally, Goldman Sachs Group, Inc. (The) cut their price target on shares of Incyte Corporation from $149.00 to $136.00 and set a “buy” rating for the company in a report on Tuesday, April 18th. Seven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $140.39.

In other Incyte Corporation news, insider Paul Trower sold 3,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $125.25, for a total value of $375,750.00. Following the sale, the insider now directly owns 11,853 shares of the company’s stock, valued at approximately $1,484,588.25. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO David W. Gryska sold 16,756 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $116.60, for a total value of $1,953,749.60. Following the completion of the sale, the chief financial officer now directly owns 35,771 shares in the company, valued at $4,170,898.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,183 shares of company stock worth $5,976,946. 17.70% of the stock is owned by corporate insiders.

Incyte Corporation Company Profile

Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).

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Institutional Ownership by Quarter for Incyte Corporation (NASDAQ:INCY)

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