Sumitomo Mitsui Trust Holdings Inc. Has $41.69 Million Stock Holdings in Incyte Co. (NASDAQ:INCY)

Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in Incyte Co. (NASDAQ:INCY) by 1.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 663,893 shares of the biopharmaceutical company’s stock after selling 7,243 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.30% of Incyte worth $41,686,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Clear Street Markets LLC grew its position in Incyte by 93.6% in the first quarter. Clear Street Markets LLC now owns 362 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 175 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Incyte by 91.0% during the 1st quarter. Parkside Financial Bank & Trust now owns 447 shares of the biopharmaceutical company’s stock valued at $36,000 after purchasing an additional 213 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in Incyte during the 4th quarter worth approximately $31,000. Salem Investment Counselors Inc. lifted its stake in Incyte by 1,458.0% in the 2nd quarter. Salem Investment Counselors Inc. now owns 779 shares of the biopharmaceutical company’s stock valued at $59,000 after purchasing an additional 729 shares during the last quarter. Finally, Allworth Financial LP boosted its position in Incyte by 40.0% in the fourth quarter. Allworth Financial LP now owns 802 shares of the biopharmaceutical company’s stock valued at $50,000 after buying an additional 229 shares in the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Truist Financial dropped their price target on Incyte from $91.00 to $84.00 and set a “buy” rating for the company in a research note on Wednesday, February 14th. Bank of America cut their price target on Incyte from $69.00 to $67.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 13th. Stifel Nicolaus boosted their price target on Incyte from $67.00 to $68.00 and gave the stock a “hold” rating in a report on Wednesday, February 14th. BMO Capital Markets lifted their target price on shares of Incyte from $58.00 to $64.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 14th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $65.00 price target on shares of Incyte in a research report on Monday, March 25th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $76.07.

Incyte Trading Down 0.9 %

NASDAQ INCY opened at $52.35 on Friday. The stock has a market capitalization of $11.75 billion, a P/E ratio of 19.75, a P/E/G ratio of 1.22 and a beta of 0.65. The business has a 50 day simple moving average of $57.46 and a 200 day simple moving average of $57.92. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.55 and a quick ratio of 3.36. Incyte Co. has a one year low of $50.27 and a one year high of $75.74.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, February 13th. The biopharmaceutical company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.09). Incyte had a return on equity of 12.56% and a net margin of 16.17%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. During the same period last year, the business earned $0.44 EPS. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. Research analysts expect that Incyte Co. will post 3.84 earnings per share for the current year.

About Incyte

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.