Incyte Co. (NASDAQ:INCY) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lessened its holdings in Incyte Co. (NASDAQ:INCY) by 3.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 355,558 shares of the biopharmaceutical company’s stock after selling 14,355 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Incyte were worth $24,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its position in shares of Incyte by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 4,040,086 shares of the biopharmaceutical company’s stock worth $278,346,000 after purchasing an additional 103,910 shares during the period. LSV Asset Management increased its position in Incyte by 18.6% in the fourth quarter. LSV Asset Management now owns 3,467,490 shares of the biopharmaceutical company’s stock worth $239,500,000 after buying an additional 544,080 shares during the period. Norges Bank bought a new stake in Incyte in the fourth quarter valued at $121,890,000. Charles Schwab Investment Management Inc. lifted its stake in Incyte by 2.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,643,067 shares of the biopharmaceutical company’s stock valued at $113,487,000 after buying an additional 33,847 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its holdings in shares of Incyte by 73.4% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,313,873 shares of the biopharmaceutical company’s stock valued at $90,749,000 after acquiring an additional 556,218 shares during the period. Institutional investors own 96.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on INCY. William Blair downgraded shares of Incyte from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 18th. Guggenheim cut Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price target on the stock. in a report on Tuesday, March 18th. Stifel Nicolaus boosted their price objective on Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research report on Monday, February 10th. Truist Financial lowered their target price on Incyte from $74.00 to $72.00 and set a “hold” rating on the stock in a research report on Tuesday, March 18th. Finally, StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $74.88.

Insider Transactions at Incyte

In other Incyte news, EVP Sheila A. Denton sold 14,069 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total transaction of $1,042,090.83. Following the sale, the executive vice president now directly owns 25,848 shares of the company’s stock, valued at $1,914,561.36. The trade was a 35.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven H. Stein sold 12,352 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total value of $897,866.88. Following the completion of the sale, the executive vice president now directly owns 66,967 shares of the company’s stock, valued at approximately $4,867,831.23. This trade represents a 15.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,827 shares of company stock valued at $3,322,618 over the last ninety days. Corporate insiders own 17.60% of the company’s stock.

Incyte Stock Up 0.8 %

INCY stock opened at $58.21 on Monday. The firm has a market cap of $11.27 billion, a PE ratio of 215.60, a P/E/G ratio of 0.41 and a beta of 0.89. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95. The firm has a 50 day simple moving average of $64.84 and a 200 day simple moving average of $69.33. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94.

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

About Incyte

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.