Meiji Yasuda Asset Management Co Ltd. Has $2.34 Million Stock Position in Incyte Corporation $INCY

Meiji Yasuda Asset Management Co Ltd. lessened its stake in Incyte Corporation (NASDAQ:INCY) by 29.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,630 shares of the biopharmaceutical company’s stock after selling 11,408 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Incyte were worth $2,343,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in INCY. CreativeOne Wealth LLC bought a new stake in Incyte in the 3rd quarter valued at $299,000. Natixis Advisors LLC raised its stake in shares of Incyte by 11.0% in the 3rd quarter. Natixis Advisors LLC now owns 33,935 shares of the biopharmaceutical company’s stock valued at $2,878,000 after purchasing an additional 3,363 shares during the period. Korea Investment CORP lifted its holdings in shares of Incyte by 190.2% in the third quarter. Korea Investment CORP now owns 229,326 shares of the biopharmaceutical company’s stock valued at $19,449,000 after purchasing an additional 150,300 shares in the last quarter. Aptus Capital Advisors LLC bought a new stake in shares of Incyte in the third quarter valued at about $205,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Incyte by 15.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,596,129 shares of the biopharmaceutical company’s stock worth $135,350,000 after buying an additional 208,167 shares during the period. Institutional investors own 96.97% of the company’s stock.

Incyte Stock Down 1.4%

NASDAQ:INCY opened at $95.94 on Monday. The firm has a market capitalization of $19.09 billion, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 0.76 and a beta of 0.84. Incyte Corporation has a twelve month low of $53.56 and a twelve month high of $112.29. The stock’s 50 day moving average price is $102.28 and its two-hundred day moving average price is $96.32. The company has a quick ratio of 3.25, a current ratio of 3.32 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, February 10th. The biopharmaceutical company reported $1.80 EPS for the quarter, missing the consensus estimate of $1.96 by ($0.16). Incyte had a net margin of 25.03% and a return on equity of 26.34%. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same period in the previous year, the company posted $1.43 EPS. The company’s quarterly revenue was up 27.8% compared to the same quarter last year. Equities research analysts expect that Incyte Corporation will post 4.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on INCY. Zacks Research lowered Incyte from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Wells Fargo & Company reduced their price target on Incyte from $107.00 to $101.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 11th. TD Cowen reiterated a “buy” rating on shares of Incyte in a report on Tuesday, January 13th. Morgan Stanley set a $102.00 price objective on shares of Incyte in a research report on Wednesday, February 11th. Finally, Royal Bank Of Canada reduced their target price on shares of Incyte from $95.00 to $92.00 and set a “sector perform” rating for the company in a report on Wednesday, February 11th. Ten equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $104.00.

Insider Buying and Selling at Incyte

In other news, insider Thomas Tray sold 2,774 shares of the business’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $100.00, for a total transaction of $277,400.00. Following the transaction, the insider directly owned 22,973 shares in the company, valued at $2,297,300. The trade was a 10.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael James Morrissey sold 4,323 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $97.26, for a total transaction of $420,454.98. Following the completion of the sale, the executive vice president directly owned 27,507 shares in the company, valued at approximately $2,675,330.82. The trade was a 13.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 72,561 shares of company stock worth $7,195,307 over the last quarter. 17.80% of the stock is currently owned by insiders.

About Incyte

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.