61,786 Shares of Incyte Corporation $INCY Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Incyte Corporation (NASDAQ:INCY) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 61,786 shares of the biopharmaceutical company’s stock, valued at approximately $7,498,000.

A number of other institutional investors also recently made changes to their positions in the company. Fiduciary Financial Advisors acquired a new position in shares of Incyte in the second quarter valued at approximately $26,000. Continuum Advisory LLC bought a new stake in Incyte in the 2nd quarter valued at $36,000. Latitude Advisors LLC acquired a new position in Incyte in the 3rd quarter valued at $39,000. Quantbot Technologies LP acquired a new position in Incyte in the 2nd quarter valued at $52,000. Finally, Parkside Financial Bank & Trust increased its position in Incyte by 49.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 727 shares of the biopharmaceutical company’s stock worth $82,000 after buying an additional 239 shares during the period. Institutional investors own 96.97% of the company’s stock.

Analysts Set New Price Targets

INCY has been the subject of a number of research reports. Oppenheimer set a $152.00 target price on Incyte in a report on Tuesday, October 27th. UBS Group set a $152.00 price target on shares of Incyte in a research note on Friday, October 30th. Wells Fargo & Company decreased their price target on shares of Incyte from $128.00 to $127.00 and set an “equal weight” rating on the stock in a research note on Friday, October 30th. Canaccord Genuity Group initiated coverage on shares of Incyte in a research report on Thursday, August 20th. They set a “buy” rating and a $152.00 price target on the stock. Finally, Wall Street Zen downgraded shares of Incyte from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. Twelve investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $133.10.

Incyte Stock Up 4.5%

INCY opened at $122.85 on Thursday. Incyte Corporation has a twelve month low of $89.25 and a twelve month high of $132.60. The company has a 50-day simple moving average of $119.99 and a 200 day simple moving average of $108.37. The stock has a market capitalization of $25.04 billion, a price-to-earnings ratio of 65.35, a P/E/G ratio of 4.28 and a beta of 0.78.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Thursday, October 29th. The biopharmaceutical company reported ($3.60) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.93) by $0.33. Incyte had a net margin of 6.71% and a return on equity of 7.92%. The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the company posted $2.26 earnings per share. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. Sell-side analysts anticipate that Incyte Corporation will post 2.24 EPS for the current fiscal year.

Insider Buying and Selling at Incyte

In other news, insider Pablo Cagnoni sold 2,642 shares of the company’s stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $112.71, for a total transaction of $297,779.82. Following the completion of the sale, the insider owned 183,200 shares of the company’s stock, valued at approximately $20,648,472. This represents a 1.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 16.20% of the company’s stock.

Incyte Company Profile

Incyte Corporation is a biopharmaceutical company that discovers, develops and commercializes medicines for oncology and inflammatory or autoimmune diseases. The company focuses on therapies that target specific biological pathways, including Janus kinase (JAK), fibroblast growth factor receptor (FGFR) and other mechanisms involved in cancer and immune-related conditions.

Its key products include Jakafi (ruxolitinib), a JAK inhibitor used in the United States for certain blood cancers and graft-versus-host disease; Opzelura (ruxolitinib cream), a topical treatment for atopic dermatitis and nonsegmental vitiligo; and Pemazyre (pemigatinib), an FGFR inhibitor approved for selected patients with cholangiocarcinoma and certain myeloid or lymphoid neoplasms.