Incyte Corporation $INCY Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. cut its stake in Incyte Corporation (NASDAQ:INCY) by 25.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,666 shares of the biopharmaceutical company’s stock after selling 14,396 shares during the period. Daiwa Securities Group Inc.’s holdings in Incyte were worth $4,115,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Elyxium Wealth LLC acquired a new stake in Incyte in the fourth quarter valued at $28,000. Smithfield Trust Co raised its holdings in Incyte by 135.0% in the fourth quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 162 shares in the last quarter. Leonteq Securities AG acquired a new stake in Incyte in the fourth quarter valued at $35,000. Kingdom Financial Group LLC. acquired a new stake in Incyte in the fourth quarter valued at $43,000. Finally, MUFG Securities EMEA plc bought a new stake in Incyte during the second quarter valued at $32,000. 96.97% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Incyte

In other news, insider Pablo J. Cagnoni sold 18,667 shares of the firm’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $96.50, for a total transaction of $1,801,365.50. Following the completion of the transaction, the insider owned 262,692 shares in the company, valued at approximately $25,349,778. This trade represents a 6.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 16.20% of the company’s stock.

Incyte Stock Down 1.7%

Incyte stock opened at $100.64 on Tuesday. The company has a 50-day simple moving average of $96.66 and a 200-day simple moving average of $99.03. The firm has a market capitalization of $20.11 billion, a P/E ratio of 14.21, a P/E/G ratio of 0.99 and a beta of 0.79. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.60 and a current ratio of 3.68. Incyte Corporation has a one year low of $66.74 and a one year high of $112.29.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.43. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the firm posted $1.16 EPS. Incyte’s revenue was up 20.9% compared to the same quarter last year. As a group, equities analysts expect that Incyte Corporation will post 6.65 earnings per share for the current year.

More Incyte News

Here are the key news stories impacting Incyte this week:

• Positive Sentiment: Incyte announced a definitive agreement to buy Vega Therapeutics for up to $2 billion, adding a late-stage bleeding-disorder asset to strengthen its hematology pipeline. Article Title
• Positive Sentiment: The deal is part of a broader push to bolster Incyte’s blood-disorder portfolio and diversify growth ahead of looming patent-expiry concerns for its key drug Jakafi. Article Title
• Neutral Sentiment: Multiple reports echoed the transaction and described it as a major biotech M&A move, reinforcing the market’s focus on pipeline expansion rather than operational weakness. Article Title

Analyst Ratings Changes

INCY has been the subject of several recent research reports. Morgan Stanley set a $102.00 price target on shares of Incyte in a research report on Wednesday, February 11th. Jefferies Financial Group cut shares of Incyte from a “buy” rating to a “hold” rating and cut their target price for the stock from $120.00 to $94.00 in a report on Monday, March 16th. Weiss Ratings raised Incyte from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, April 1st. HC Wainwright reaffirmed a “buy” rating and set a $135.00 target price on shares of Incyte in a report on Thursday, May 21st. Finally, UBS Group lowered their target price on Incyte from $104.00 to $94.00 and set a “neutral” rating for the company in a report on Wednesday, March 25th. Nine analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $104.85.

Incyte Company Profile

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.