Incyte Co. (NASDAQ:INCY) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lessened its position in shares of Incyte Co. (NASDAQ:INCY) by 6.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 369,913 shares of the biopharmaceutical company’s stock after selling 24,733 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Incyte were worth $24,451,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Pacer Advisors Inc. raised its holdings in shares of Incyte by 17,460.4% in the second quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock worth $163,200,000 after acquiring an additional 2,676,851 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Incyte in the 3rd quarter valued at about $156,611,000. Mizuho Securities USA LLC lifted its holdings in Incyte by 13,814.7% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock valued at $132,207,000 after purchasing an additional 1,985,726 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Incyte by 70.5% during the 2nd quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock worth $159,905,000 after purchasing an additional 1,101,041 shares during the last quarter. Finally, Acadian Asset Management LLC grew its holdings in shares of Incyte by 28.0% during the second quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company’s stock worth $215,833,000 after buying an additional 779,243 shares in the last quarter. 96.97% of the stock is owned by institutional investors and hedge funds.

Incyte Stock Performance

Incyte stock opened at $72.48 on Wednesday. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. The stock has a market cap of $13.96 billion, a P/E ratio of 517.71, a price-to-earnings-growth ratio of 8.75 and a beta of 0.69. The stock has a 50 day moving average of $71.86 and a 200-day moving average of $65.92.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.12). The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. Incyte’s revenue was up 23.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.91 earnings per share. On average, analysts expect that Incyte Co. will post 0.4 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on INCY shares. William Blair reiterated an “outperform” rating on shares of Incyte in a report on Monday, September 9th. StockNews.com upgraded Incyte from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 28th. Truist Financial reissued a “hold” rating and issued a $74.00 price target (down from $83.00) on shares of Incyte in a research note on Wednesday, September 18th. Morgan Stanley upped their price objective on shares of Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada boosted their target price on shares of Incyte from $72.00 to $80.00 and gave the company a “sector perform” rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $77.16.

Insider Activity at Incyte

In other news, EVP Barry P. Flannelly sold 3,680 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total transaction of $293,222.40. Following the completion of the transaction, the executive vice president now owns 58,042 shares of the company’s stock, valued at approximately $4,624,786.56. The trade was a 5.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas Tray sold 572 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.94, for a total transaction of $36,001.68. Following the completion of the transaction, the insider now owns 24,825 shares of the company’s stock, valued at approximately $1,562,485.50. This trade represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,745 shares of company stock valued at $1,311,687 over the last three months. 17.60% of the stock is owned by insiders.

Incyte Profile

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.