New York State Common Retirement Fund Decreases Holdings in Incyte Co. (NASDAQ:INCY)

New York State Common Retirement Fund decreased its position in shares of Incyte Co. (NASDAQ:INCYGet Rating) by 1.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 213,773 shares of the biopharmaceutical company’s stock after selling 2,957 shares during the quarter. New York State Common Retirement Fund owned 0.10% of Incyte worth $16,978,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. AlphaMark Advisors LLC acquired a new position in shares of Incyte during the 4th quarter worth approximately $35,000. Glassman Wealth Services raised its position in shares of Incyte by 52.1% during the 4th quarter. Glassman Wealth Services now owns 502 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 172 shares during the last quarter. National Bank of Canada FI acquired a new position in shares of Incyte during the 4th quarter worth approximately $44,000. Ellevest Inc. raised its position in shares of Incyte by 210.1% during the 1st quarter. Ellevest Inc. now owns 673 shares of the biopharmaceutical company’s stock worth $53,000 after purchasing an additional 456 shares during the last quarter. Finally, CWM LLC acquired a new position in shares of Incyte during the 4th quarter worth approximately $51,000. 92.78% of the stock is currently owned by institutional investors and hedge funds.

Incyte Stock Down 0.9 %

Shares of NASDAQ INCY opened at $71.91 on Friday. Incyte Co. has a 52-week low of $61.91 and a 52-week high of $84.86. The firm has a fifty day moving average of $76.26 and a 200-day moving average of $75.23. The stock has a market capitalization of $15.93 billion, a PE ratio of 16.92, a P/E/G ratio of 0.85 and a beta of 0.64. The company has a quick ratio of 3.67, a current ratio of 4.14 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCYGet Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The biopharmaceutical company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.22. Incyte had a net margin of 28.46% and a return on equity of 13.02%. The company had revenue of $911.40 million during the quarter, compared to analysts’ expectations of $818.25 million. During the same period in the previous year, the company earned $0.65 EPS. The business’s quarterly revenue was up 29.1% compared to the same quarter last year. On average, analysts anticipate that Incyte Co. will post 2.37 EPS for the current year.

Insider Buying and Selling

In related news, insider Thomas Tray sold 1,564 shares of the company’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $83.13, for a total transaction of $130,015.32. Following the completion of the sale, the insider now directly owns 17,702 shares of the company’s stock, valued at approximately $1,471,567.26. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Thomas Tray sold 1,564 shares of the company’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $83.13, for a total transaction of $130,015.32. Following the completion of the sale, the insider now directly owns 17,702 shares of the company’s stock, valued at approximately $1,471,567.26. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Vijay K. Iyengar sold 5,787 shares of the company’s stock in a transaction on Thursday, July 7th. The stock was sold at an average price of $79.38, for a total transaction of $459,372.06. Following the sale, the executive vice president now directly owns 40,313 shares of the company’s stock, valued at $3,200,045.94. The disclosure for this sale can be found here. 15.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on INCY. StockNews.com upgraded Incyte from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. TheStreet upgraded Incyte from a “c” rating to a “b” rating in a report on Tuesday. Wells Fargo & Company started coverage on Incyte in a report on Thursday, July 28th. They issued an “equal weight” rating and a $76.00 price target for the company. Morgan Stanley cut their price target on Incyte from $77.00 to $76.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, Evercore ISI downgraded Incyte from an “outperform” rating to an “inline” rating and cut their price target for the company from $90.00 to $78.00 in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $84.92.

Incyte Profile

(Get Rating)

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States and internationally. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in various liquid and solid tumor types; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

Featured Articles

Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

Receive News & Ratings for Incyte Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte and related companies with MarketBeat.com's FREE daily email newsletter.