Public Employees Retirement System of Ohio Decreases Stock Position in Incyte Co. (NASDAQ:INCY)

Public Employees Retirement System of Ohio lessened its stake in shares of Incyte Co. (NASDAQ:INCY) by 6.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,076 shares of the biopharmaceutical company’s stock after selling 5,247 shares during the period. Public Employees Retirement System of Ohio’s holdings in Incyte were worth $6,378,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its position in Incyte by 133.3% in the second quarter. Renaissance Technologies LLC now owns 1,962,310 shares of the biopharmaceutical company’s stock worth $166,718,000 after buying an additional 1,121,310 shares during the last quarter. FMR LLC increased its holdings in shares of Incyte by 2,120.0% in the 1st quarter. FMR LLC now owns 657,610 shares of the biopharmaceutical company’s stock valued at $56,561,000 after acquiring an additional 627,988 shares during the period. Bessemer Group Inc. raised its holdings in Incyte by 115,574.2% in the second quarter. Bessemer Group Inc. now owns 564,490 shares of the biopharmaceutical company’s stock worth $47,959,000 after purchasing an additional 564,002 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Incyte by 13,339.9% during the 1st quarter. Victory Capital Management Inc. now owns 349,707 shares of the biopharmaceutical company’s stock worth $30,078,000 after acquiring an additional 347,105 shares in the last quarter. Finally, Argent Capital Management LLC acquired a new position in shares of Incyte during the first quarter worth $27,346,000. Institutional investors and hedge funds own 92.65% of the company’s stock.

A number of brokerages recently issued reports on INCY. Oppenheimer upgraded Incyte from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $85.00 to $100.00 in a research note on Thursday, September 5th. They noted that the move was a valuation call. BidaskClub lowered shares of Incyte from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Nomura upped their price objective on shares of Incyte from $100.00 to $111.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Credit Suisse Group started coverage on Incyte in a research report on Monday, May 20th. They issued a “neutral” rating and a $75.00 target price on the stock. Finally, Leerink Swann set a $90.00 price target on shares of Incyte and gave the stock a “hold” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $91.63.



In related news, EVP Steven H. Stein sold 8,357 shares of Incyte stock in a transaction on Monday, June 24th. The shares were sold at an average price of $87.96, for a total transaction of $735,081.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Barry P. Flannelly sold 959 shares of Incyte stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $79.91, for a total transaction of $76,633.69. The disclosure for this sale can be found here. Insiders sold a total of 118,540 shares of company stock worth $9,829,776 over the last ninety days. Corporate insiders own 17.10% of the company’s stock.

NASDAQ:INCY traded up $1.13 during trading hours on Wednesday, reaching $79.04. 28,624 shares of the company were exchanged, compared to its average volume of 1,035,952. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.61 and a quick ratio of 5.59. The firm has a market cap of $16.98 billion, a price-to-earnings ratio of 96.07 and a beta of 1.09. Incyte Co. has a 52-week low of $57.00 and a 52-week high of $89.30. The stock has a 50 day simple moving average of $81.66 and a 200 day simple moving average of $81.84.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported $0.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.37. Incyte had a net margin of 15.25% and a return on equity of 17.10%. The company had revenue of $529.93 million during the quarter, compared to analysts’ expectations of $498.57 million. During the same period in the previous year, the company earned $0.63 EPS. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, analysts predict that Incyte Co. will post 1.98 EPS for the current fiscal year.

About Incyte

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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