State Board of Administration of Florida Retirement System decreased its holdings in Incyte Co. (NASDAQ:INCY) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 234,583 shares of the biopharmaceutical company’s stock after selling 3,139 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Incyte were worth $19,735,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. increased its holdings in Incyte by 4.9% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 22,261 shares of the biopharmaceutical company’s stock worth $1,872,000 after purchasing an additional 1,047 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Incyte by 13.6% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 34,636 shares of the biopharmaceutical company’s stock worth $2,914,000 after buying an additional 4,142 shares in the last quarter. Cutter & CO Brokerage Inc. raised its position in Incyte by 3.6% in the 2nd quarter. Cutter & CO Brokerage Inc. now owns 9,165 shares of the biopharmaceutical company’s stock valued at $771,000 after buying an additional 320 shares during the last quarter. Commerce Bank lifted its stake in Incyte by 4.8% during the 2nd quarter. Commerce Bank now owns 7,046 shares of the biopharmaceutical company’s stock valued at $593,000 after acquiring an additional 324 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC boosted its holdings in Incyte by 100.0% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 500 shares of the biopharmaceutical company’s stock worth $42,000 after acquiring an additional 250 shares during the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.
NASDAQ:INCY opened at $75.99 on Friday. The company has a market capitalization of $16.78 billion, a P/E ratio of 49.99, a P/E/G ratio of 0.88 and a beta of 0.76. The business has a fifty day simple moving average of $76.15 and a two-hundred day simple moving average of $80.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.97 and a quick ratio of 3.94. Incyte Co. has a 1 year low of $70.97 and a 1 year high of $101.47.
A number of research analysts recently weighed in on the stock. William Blair reissued an “outperform” rating on shares of Incyte in a research report on Tuesday, June 15th. Benchmark raised shares of Incyte from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research report on Tuesday, July 20th. TheStreet lowered Incyte from a “b-” rating to a “c+” rating in a report on Friday, August 20th. Royal Bank of Canada dropped their price target on Incyte from $92.00 to $88.00 and set a “sector perform” rating on the stock in a report on Friday, June 25th. Finally, SVB Leerink reduced their price objective on Incyte from $70.00 to $67.00 and set an “underperform” rating for the company in a research note on Wednesday, August 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $92.29.
In related news, EVP Dashyant Dhanak sold 388 shares of Incyte stock in a transaction that occurred on Wednesday, September 1st. The shares were sold at an average price of $76.71, for a total value of $29,763.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Vijay K. Iyengar sold 4,911 shares of the stock in a transaction on Thursday, July 29th. The stock was sold at an average price of $78.29, for a total value of $384,482.19. The disclosure for this sale can be found here. Insiders have sold 32,493 shares of company stock valued at $2,735,797 in the last quarter. Company insiders own 15.80% of the company’s stock.
Incyte Company Profile
Incyte Corp. is a biopharmaceutical company, which engages in the discovery, development and commercialization of proprietary therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late stage development, and commercialized products such as JAKAFI (ruxolitinib), and ICLUSIG (ponatinib).
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