South Dakota Investment Council Sells 5,200 Shares of Incyte Co. (NASDAQ:INCY)

South Dakota Investment Council reduced its holdings in shares of Incyte Co. (NASDAQ:INCY) by 2.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 171,836 shares of the biopharmaceutical company’s stock after selling 5,200 shares during the quarter. South Dakota Investment Council owned approximately 0.08% of Incyte worth $10,790,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Larson Financial Group LLC raised its stake in shares of Incyte by 4,220.0% in the fourth quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 422 shares during the period. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Incyte in the fourth quarter valued at $31,000. Livforsakringsbolaget Skandia Omsesidigt raised its stake in shares of Incyte by 157.3% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 772 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 472 shares during the period. Allworth Financial LP raised its stake in shares of Incyte by 40.0% during 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. bought a new stake in shares of Incyte during the 3rd quarter valued at $83,000. 96.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. William Blair reiterated an “outperform” rating on shares of Incyte in a research note on Tuesday, February 6th. Oppenheimer reduced their target price on Incyte from $92.00 to $84.00 and set an “outperform” rating for the company in a research report on Wednesday. Stifel Nicolaus boosted their target price on Incyte from $67.00 to $68.00 and gave the stock a “hold” rating in a research report on Wednesday, February 14th. Jefferies Financial Group began coverage on Incyte in a research report on Friday, February 23rd. They set a “buy” rating and a $81.00 target price for the company. Finally, Bank of America reduced their target price on Incyte from $69.00 to $67.00 and set a “neutral” rating for the company in a research report on Wednesday, March 13th. Nine investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Incyte has a consensus rating of “Moderate Buy” and a consensus target price of $75.50.

Incyte Trading Down 0.3 %

INCY stock traded down $0.16 during trading on Wednesday, hitting $51.49. 697,452 shares of the company traded hands, compared to its average volume of 1,713,445. The firm has a market capitalization of $11.56 billion, a PE ratio of 19.49, a P/E/G ratio of 1.20 and a beta of 0.65. Incyte Co. has a 1 year low of $50.27 and a 1 year high of $75.74. The company has a 50-day moving average of $57.18 and a 200-day moving average of $57.82. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.36 and a current ratio of 3.55.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.09). The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. Incyte had a net margin of 16.17% and a return on equity of 12.56%. The company’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.44 earnings per share. Analysts predict that Incyte Co. will post 3.85 earnings per share for the current fiscal 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.