Sumitomo Mitsui DS Asset Management Company Ltd Sells 306 Shares of Incyte Co. (NASDAQ:INCY)

Sumitomo Mitsui DS Asset Management Company Ltd lowered its position in Incyte Co. (NASDAQ:INCY) by 1.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 23,730 shares of the biopharmaceutical company’s stock after selling 306 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Incyte were worth $1,490,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of INCY. Turtle Creek Wealth Advisors LLC purchased a new stake in Incyte in the 4th quarter worth $31,000. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Incyte by 157.3% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 772 shares of the biopharmaceutical company’s stock worth $48,000 after purchasing an additional 472 shares in the last quarter. Allworth Financial LP lifted its stake in Incyte by 40.0% in the 4th quarter. Allworth Financial LP now owns 802 shares of the biopharmaceutical company’s stock worth $50,000 after purchasing an additional 229 shares in the last quarter. NBC Securities Inc. purchased a new stake in Incyte in the 3rd quarter worth $83,000. Finally, Covestor Ltd raised its position in shares of Incyte by 28.8% during the 3rd quarter. Covestor Ltd now owns 1,606 shares of the biopharmaceutical company’s stock valued at $93,000 after buying an additional 359 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.

Incyte Price Performance

Shares of INCY opened at $51.74 on Thursday. The company has a 50 day moving average of $57.06 and a two-hundred day moving average of $57.78. The company has a market cap of $11.62 billion, a price-to-earnings ratio of 19.52, a price-to-earnings-growth ratio of 1.19 and a beta of 0.65. Incyte Co. has a twelve month low of $50.27 and a twelve month high of $75.74. The company has a quick ratio of 3.36, a current ratio of 3.55 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.09). The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. Incyte had a return on equity of 12.56% and a net margin of 16.17%. The company’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.44 EPS. As a group, analysts predict that Incyte Co. will post 3.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on INCY shares. JMP Securities cut shares of Incyte from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 14th. Citigroup decreased their target price on shares of Incyte from $82.00 to $81.00 and set a “buy” rating on the stock in a research report on Wednesday, February 14th. William Blair restated an “outperform” rating on shares of Incyte in a research report on Tuesday, February 6th. Cantor Fitzgerald assumed coverage on shares of Incyte in a research report on Tuesday. They set a “neutral” rating on the stock. Finally, Jefferies Financial Group assumed coverage on shares of Incyte in a research report on Friday, February 23rd. They issued a “buy” rating and a $81.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $75.50.

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.