State of Alaska Department of Revenue Sells 1,150 Shares of Incyte Co. (NASDAQ:INCY)

State of Alaska Department of Revenue reduced its position in shares of Incyte Co. (NASDAQ:INCYFree Report) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,159 shares of the biopharmaceutical company’s stock after selling 1,150 shares during the quarter. State of Alaska Department of Revenue’s holdings in Incyte were worth $3,965,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of INCY. ARK Investment Management LLC increased its position in Incyte by 7.7% during the fourth quarter. ARK Investment Management LLC now owns 531,625 shares of the biopharmaceutical company’s stock worth $33,381,000 after buying an additional 37,932 shares during the last quarter. Royal Bank of Canada lifted its holdings in Incyte by 85.3% during the 3rd quarter. Royal Bank of Canada now owns 987,052 shares of the biopharmaceutical company’s stock valued at $57,021,000 after purchasing an additional 454,416 shares during the last quarter. Seven Eight Capital LP bought a new position in Incyte during the second quarter worth $6,311,000. Massachusetts Financial Services Co. MA increased its holdings in shares of Incyte by 55.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 42,945 shares of the biopharmaceutical company’s stock valued at $2,481,000 after purchasing an additional 15,319 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Incyte by 25.7% during the 3rd quarter. American Century Companies Inc. now owns 248,771 shares of the biopharmaceutical company’s stock worth $14,372,000 after buying an additional 50,930 shares during the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Incyte Stock Performance

Shares of INCY opened at $55.83 on Wednesday. The firm has a market capitalization of $12.54 billion, a P/E ratio of 21.07, a P/E/G ratio of 1.22 and a beta of 0.65. Incyte Co. has a 52 week low of $50.27 and a 52 week high of $76.04. The stock has a 50 day moving average price of $58.86 and a two-hundred day moving average price of $58.39. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.36 and a current ratio of 3.55.

Incyte (NASDAQ:INCYGet Free Report) last released its earnings results on Tuesday, February 13th. The biopharmaceutical company reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.09). Incyte had a return on equity of 12.56% and a net margin of 16.17%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. Equities analysts forecast that Incyte Co. will post 3.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on INCY shares. Jefferies Financial Group assumed coverage on Incyte in a research note on Friday, February 23rd. They set a “buy” rating and a $81.00 target price on the stock. JMP Securities downgraded shares of Incyte from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 14th. Citigroup dropped their price objective on shares of Incyte from $82.00 to $81.00 and set a “buy” rating for the company in a research note on Wednesday, February 14th. Royal Bank of Canada reissued a “sector perform” rating and issued a $65.00 price objective on shares of Incyte in a report on Monday, March 25th. Finally, William Blair reaffirmed an “outperform” rating on shares of Incyte in a report on Tuesday, February 6th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $76.07.

Read Our Latest Research Report on Incyte

Incyte Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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