Incyte Co. (NASDAQ:INCY) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund cut its holdings in shares of Incyte Co. (NASDAQ:INCY) by 11.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 179,731 shares of the biopharmaceutical company’s stock after selling 22,417 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Incyte were worth $12,414,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in INCY. Creative Planning lifted its holdings in Incyte by 6.2% during the 3rd quarter. Creative Planning now owns 22,366 shares of the biopharmaceutical company’s stock worth $1,478,000 after buying an additional 1,307 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Incyte by 10.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 6,674 shares of the biopharmaceutical company’s stock worth $441,000 after buying an additional 609 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Incyte by 26.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,935 shares of the biopharmaceutical company’s stock worth $1,378,000 after buying an additional 4,317 shares in the last quarter. Forsta AP Fonden lifted its holdings in Incyte by 51.1% during the 3rd quarter. Forsta AP Fonden now owns 102,900 shares of the biopharmaceutical company’s stock worth $6,802,000 after buying an additional 34,800 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Incyte by 22.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 11,533 shares of the biopharmaceutical company’s stock valued at $762,000 after purchasing an additional 2,145 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. The Goldman Sachs Group raised their price objective on shares of Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. JMP Securities restated a “market perform” rating on shares of Incyte in a report on Tuesday, February 11th. BMO Capital Markets restated an “underperform” rating and issued a $52.00 price objective (up from $48.00) on shares of Incyte in a report on Wednesday, October 30th. Finally, Wells Fargo & Company raised their price objective on shares of Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Incyte has an average rating of “Hold” and a consensus target price of $75.25.

Incyte Trading Up 0.5 %

Shares of Incyte stock opened at $74.40 on Wednesday. Incyte Co. has a 1 year low of $50.35 and a 1 year high of $83.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. The company has a market capitalization of $14.40 billion, a P/E ratio of 275.57, a PEG ratio of 0.41 and a beta of 0.70. The company’s fifty day moving average is $71.42 and its two-hundred day moving average is $69.70.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. Analysts forecast that Incyte Co. will post 4.86 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Vijay K. Iyengar sold 6,043 shares of Incyte stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $75.38, for a total value of $455,521.34. Following the sale, the executive vice president now owns 30,658 shares of the company’s stock, valued at $2,311,000.04. The trade was a 16.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Thomas Tray sold 650 shares of Incyte stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $70.64, for a total transaction of $45,916.00. Following the completion of the sale, the insider now directly owns 23,962 shares in the company, valued at approximately $1,692,675.68. The trade was a 2.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,695 shares of company stock valued at $1,444,356. Insiders own 17.60% of the company’s stock.

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.