Incyte Co. (NASDAQ:INCY) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lessened its position in Incyte Co. (NASDAQ:INCY) by 17.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 58,971 shares of the biopharmaceutical company’s stock after selling 12,843 shares during the period. Public Employees Retirement System of Ohio’s holdings in Incyte were worth $3,898,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in INCY. Raymond James & Associates boosted its holdings in Incyte by 783.4% in the 2nd quarter. Raymond James & Associates now owns 34,790 shares of the biopharmaceutical company’s stock valued at $2,109,000 after purchasing an additional 30,852 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Incyte by 4.1% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 25,213 shares of the biopharmaceutical company’s stock valued at $1,528,000 after buying an additional 997 shares in the last quarter. Dakota Wealth Management purchased a new stake in shares of Incyte in the second quarter valued at approximately $1,063,000. Pallas Capital Advisors LLC acquired a new position in Incyte during the second quarter worth $210,000. Finally, MFA Wealth Advisors LLC purchased a new position in Incyte in the second quarter worth $26,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Insider Transactions at Incyte

In related news, EVP Vijay K. Iyengar sold 6,043 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $75.38, for a total transaction of $455,521.34. Following the transaction, the executive vice president now directly owns 30,658 shares in the company, valued at approximately $2,311,000.04. This represents a 16.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Barry P. Flannelly sold 3,680 shares of Incyte stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total value of $293,222.40. Following the completion of the sale, the executive vice president now owns 58,042 shares of the company’s stock, valued at $4,624,786.56. This trade represents a 5.96 % decrease in their position. The disclosure for this sale can be found here. Insiders own 17.60% of the company’s stock.

Incyte Price Performance

NASDAQ:INCY opened at $68.55 on Monday. The firm has a market cap of $13.21 billion, a price-to-earnings ratio of 489.64, a price-to-earnings-growth ratio of 8.36 and a beta of 0.69. Incyte Co. has a 12-month low of $50.35 and a 12-month 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 company’s 50-day moving average is $72.14 and its two-hundred day moving average is $66.31.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on INCY. William Blair reaffirmed an “outperform” rating on shares of Incyte in a research note on Friday. JPMorgan Chase & Co. boosted their price objective on shares of Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Guggenheim increased their target price on shares of Incyte from $86.00 to $92.00 and gave the company a “buy” rating in a report on Monday, September 16th. The Goldman Sachs Group boosted their price target on Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Wolfe Research began coverage on Incyte in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $84.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $76.13.

Incyte Company 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.