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

Public Employees Retirement System of Ohio decreased its position in Incyte Co. (NASDAQ:INCY) by 7.8% in the 1st quarter, HoldingsChannel reports. The firm owned 77,497 shares of the biopharmaceutical company’s stock after selling 6,521 shares during the period. Public Employees Retirement System of Ohio’s holdings in Incyte were worth $4,415,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INCY. Wellington Management Group LLP raised its position in shares of Incyte by 48.8% in the fourth quarter. Wellington Management Group LLP now owns 131,649 shares of the biopharmaceutical company’s stock valued at $8,266,000 after buying an additional 43,160 shares during the last quarter. Fulton Bank N.A. purchased a new position in shares of Incyte during the 1st quarter worth $1,425,000. Russell Investments Group Ltd. lifted its stake in shares of Incyte by 29.3% during the 4th quarter. Russell Investments Group Ltd. now owns 963,090 shares of the biopharmaceutical company’s stock worth $60,465,000 after purchasing an additional 217,979 shares during the period. Great Lakes Advisors LLC acquired a new stake in shares of Incyte during the fourth quarter worth $2,033,000. Finally, FORVIS Wealth Advisors LLC purchased a new stake in shares of Incyte in the first quarter valued at $1,495,000. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Incyte Stock Down 4.0 %

NASDAQ INCY opened at $65.07 on Thursday. The stock has a market cap of $14.61 billion, a PE ratio of 19.72, a P/E/G ratio of 1.56 and a beta of 0.73. Incyte Co. has a fifty-two week low of $50.27 and a fifty-two week high of $70.36. The business has a 50 day moving average price of $61.60 and a two-hundred day moving average price of $58.76. The company has a quick ratio of 3.43, a current ratio of 1.89 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). Incyte had a return on equity of 0.75% and a net margin of 2.52%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the firm posted $0.77 earnings per share. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, sell-side analysts predict that Incyte Co. will post 3.33 EPS for the current fiscal year.

Insider Buying and Selling at Incyte

In other Incyte news, insider Thomas Tray sold 1,093 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $58.91, for a total transaction of $64,388.63. Following the completion of the sale, the insider now owns 21,634 shares in the company, valued at approximately $1,274,458.94. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Thomas Tray sold 1,093 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $58.91, for a total value of $64,388.63. Following the sale, the insider now directly owns 21,634 shares of the company’s stock, valued at $1,274,458.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Barry P. Flannelly sold 8,148 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $60.00, for a total transaction of $488,880.00. Following the transaction, the executive vice president now directly owns 50,534 shares of the company’s stock, valued at $3,032,040. The disclosure for this sale can be found here. Insiders sold a total of 45,282 shares of company stock valued at $2,876,911 in the last ninety days. Insiders own 17.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on INCY shares. Truist Financial reissued a “buy” rating and issued a $83.00 price target (down from $84.00) on shares of Incyte in a research note on Wednesday, May 1st. Bank of America boosted their target price on shares of Incyte from $62.00 to $66.00 and gave the company a “neutral” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Incyte in a research note on Thursday, May 23rd. They set a “hold” rating and a $55.00 price target on the stock. Oppenheimer lowered their price objective on shares of Incyte from $84.00 to $81.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Finally, Royal Bank of Canada increased their target price on Incyte from $61.00 to $66.00 and gave the stock a “sector perform” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $72.94.

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.