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

Teachers Retirement System of The State of Kentucky cut its holdings in shares of Incyte Co. (NASDAQ:INCY) by 3.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,063 shares of the biopharmaceutical company’s stock after selling 648 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Incyte were worth $1,008,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Cape Investment Advisory Inc. acquired a new position in shares of Incyte during the 4th quarter worth approximately $25,000. Larson Financial Group LLC boosted its stake in Incyte by 4,220.0% during the fourth quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 422 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in Incyte in the 4th quarter valued at $31,000. EverSource Wealth Advisors LLC increased its stake in shares of Incyte by 597.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 635 shares of the biopharmaceutical company’s stock worth $40,000 after acquiring an additional 544 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its holdings in shares of Incyte by 85.2% during the 4th quarter. Quadrant Capital Group LLC now owns 711 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 327 shares during the period. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Stock Up 1.4 %

Shares of NASDAQ INCY opened at $63.22 on Monday. The stock has a market cap of $14.20 billion, a P/E ratio of 19.16, a PEG ratio of 1.34 and a beta of 0.74. The business’s fifty day simple moving average is $56.48 and its 200-day simple moving average is $58.58. Incyte Co. has a 12-month low of $50.27 and a 12-month high of $67.36. The company has a current ratio of 3.47, a quick ratio of 3.43 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.31). Incyte had a net margin of 19.78% and a return on equity of 12.83%. The company had revenue of $880.89 million during the quarter, compared to analyst estimates of $935.85 million. As a group, equities analysts predict that Incyte Co. will post 3.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Barry P. Flannelly sold 19,164 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total value of $1,149,840.00. Following the sale, the executive vice president now directly owns 66,377 shares in the company, valued at approximately $3,982,620. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Thomas Tray sold 1,093 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 21,634 shares of the company’s stock, valued at approximately $1,274,458.94. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Barry P. Flannelly sold 19,164 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $60.00, for a total value of $1,149,840.00. Following the sale, the executive vice president now directly owns 66,377 shares in the company, valued at approximately $3,982,620. The disclosure for this sale can be found here. 17.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. StockNews.com cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a report on Tuesday, June 18th. Oppenheimer cut their target price on Incyte from $92.00 to $84.00 and set an “outperform” rating for the company in a research note on Wednesday, April 24th. Truist Financial reaffirmed a “buy” rating and issued a $83.00 price target (down previously from $84.00) on shares of Incyte in a research note on Wednesday, May 1st. Finally, Bank of America cut their price objective on Incyte from $69.00 to $67.00 and set a “neutral” rating for the company in a research report on Wednesday, March 13th. Ten equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $73.69.

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.