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Mitsubishi UFJ increased its stake in Incyte, despite the biopharm's recent earnings miss.
Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in biopharmaceutical company Incyte Corp. by purchasing 13,026 shares, now holding 248,875 shares valued at $17.33 million.
Despite missing earnings expectations, with a reported EPS of $1.09 compared to estimates of $1.57, Incyte's stock has a "Hold" rating and a target price of $74.88.
The company focuses on developing therapeutics for hematology/oncology and inflammation.
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Mitsubishi UFJ aumentó su participación en Incyte, a pesar de la reciente pérdida de ganancias del biopharm.