Alaska Permanent Fund Corp Sells 25,830 Shares of Incyte Co. (NASDAQ:INCY)

Alaska Permanent Fund Corp trimmed its position in Incyte Co. (NASDAQ:INCY) by 33.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,606 shares of the biopharmaceutical company’s stock after selling 25,830 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Incyte were worth $3,178,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its holdings in Incyte by 4,220.0% during the fourth quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 422 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in Incyte during the fourth quarter worth $31,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in Incyte by 157.3% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 772 shares of the biopharmaceutical company’s stock worth $48,000 after purchasing an additional 472 shares during the last quarter. Allworth Financial LP grew its stake in Incyte by 40.0% in the 4th quarter. Allworth Financial LP now owns 802 shares of the biopharmaceutical company’s stock valued at $50,000 after purchasing an additional 229 shares during the period. Finally, NBC Securities Inc. purchased a new stake in shares of Incyte during the 3rd quarter valued at $83,000. 96.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $65.00 price objective on shares of Incyte in a report on Monday, March 25th. JMP Securities lowered Incyte from an “outperform” rating to a “market perform” rating in a research note 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 note on Wednesday, February 14th. Cantor Fitzgerald initiated coverage on shares of Incyte in a report on Tuesday. They issued a “neutral” rating on the stock. Finally, Oppenheimer lowered their price objective on shares of Incyte from $92.00 to $84.00 and set an “outperform” rating for the company in a research note on Wednesday. Nine research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Incyte currently has a consensus rating of “Moderate Buy” and an average price target of $75.50.

Incyte Stock Up 0.2 %

Shares of Incyte stock traded up $0.09 on Wednesday, reaching $51.74. The company’s stock had a trading volume of 1,542,911 shares, compared to its average volume of 1,724,642. The company has a market capitalization of $11.62 billion, a price-to-earnings ratio of 19.49, a P/E/G ratio of 1.20 and a beta of 0.65. 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 Co. has a 52 week low of $50.27 and a 52 week high of $75.74. The firm’s fifty day simple moving average is $57.18 and its two-hundred day simple moving average is $57.82.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data 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). Incyte had a return on equity of 12.56% and a net margin of 16.17%. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.44 EPS. Equities analysts anticipate that Incyte Co. will post 3.85 earnings per share for the current year.

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.