Asset Management One Co. Ltd. Raises Stake in Incyte Corporation (INCY)

Asset Management One Co. Ltd. raised its position in Incyte Corporation (NASDAQ:INCY) by 146.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 357,295 shares of the biopharmaceutical company’s stock after buying an additional 212,344 shares during the period. Asset Management One Co. Ltd.’s holdings in Incyte Corporation were worth $35,972,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Aviva PLC increased its stake in Incyte Corporation by 6.6% in the fourth quarter. Aviva PLC now owns 109,496 shares of the biopharmaceutical company’s stock valued at $10,982,000 after buying an additional 6,817 shares in the last quarter. Marshall Wace LLP increased its stake in Incyte Corporation by 26.4% in the fourth quarter. Marshall Wace LLP now owns 940,303 shares of the biopharmaceutical company’s stock valued at $94,285,000 after buying an additional 196,129 shares in the last quarter. Pinnacle Associates Ltd. purchased a new stake in Incyte Corporation during the fourth quarter valued at approximately $212,000. Federated Investors Inc. PA increased its stake in Incyte Corporation by 9,088.7% in the fourth quarter. Federated Investors Inc. PA now owns 577,141 shares of the biopharmaceutical company’s stock valued at $57,870,000 after buying an additional 570,860 shares in the last quarter. Finally, Tredje AP fonden increased its stake in Incyte Corporation by 187.2% in the fourth quarter. Tredje AP fonden now owns 4,366 shares of the biopharmaceutical company’s stock valued at $438,000 after buying an additional 2,846 shares in the last quarter. Institutional investors and hedge funds own 92.62% of the company’s stock.

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

Shares of Incyte Corporation (NASDAQ:INCY) traded up 1.79% during trading on Tuesday, reaching $123.32. The company’s stock had a trading volume of 1,869,498 shares. The company has a 50 day moving average of $115.35 and a 200 day moving average of $97.30. The company has a market cap of $23.23 billion, a PE ratio of 165.75 and a beta of 0.78. Incyte Corporation has a 12-month low of $60.30 and a 12-month high of $125.49.

Incyte Corporation (NASDAQ:INCY) last posted its earnings results on Tuesday, February 14th. The biopharmaceutical company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by $0.09. Incyte Corporation had a return on equity of 50.38% and a net margin of 14.71%. The firm had revenue of $326 million for the quarter, compared to analysts’ expectations of $324.90 million. During the same period in the previous year, the company earned $0.29 earnings per share. The company’s revenue was up 33.9% compared to the same quarter last year. On average, analysts anticipate that Incyte Corporation will post $0.62 EPS for the current fiscal year.

“Asset Management One Co. Ltd. Raises Stake in Incyte Corporation (INCY)” was originally published by sleekmoney and is the sole property of of sleekmoney. If you are viewing this piece on another domain, it was stolen and republished in violation of United States and international copyright and trademark laws. The original version of this piece can be accessed at http://sleekmoney.com/asset-management-one-co-ltd-raises-stake-in-incyte-corporation-incy/1660963.html.

Several brokerages recently issued reports on INCY. Leerink Swann reaffirmed an “outperform” rating and set a $101.00 target price (up previously from $99.00) on shares of Incyte Corporation in a research report on Wednesday, November 2nd. RBC Capital Markets reaffirmed an “outperform” rating on shares of Incyte Corporation in a research report on Tuesday. Jefferies Group LLC reaffirmed a “buy” rating on shares of Incyte Corporation in a research report on Tuesday, November 8th. J P Morgan Chase & Co reaffirmed a “buy” rating and set a $101.00 target price on shares of Incyte Corporation in a research report on Thursday, November 3rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $126.00 target price on shares of Incyte Corporation in a research report on Tuesday, December 6th. Two equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $114.47.

In related news, EVP Reid M. Huber sold 11,739 shares of the firm’s stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $113.55, for a total value of $1,332,963.45. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 13.70% of the company’s stock.

Incyte Corporation Company Profile

Incyte Corporation is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of therapeutics to treat medical needs, primarily in oncology. The Company focuses on the research and development program to explore the inhibition of enzymes called janus associated kinases (JAK).

5 Day Chart for NASDAQ:INCY

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