Incyte Co. (NASDAQ:INCY) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its stake in Incyte Co. (NASDAQ:INCY) by 2.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 40,994 shares of the biopharmaceutical company’s stock after selling 1,060 shares during the period. Retirement Systems of Alabama’s holdings in Incyte were worth $2,574,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of INCY. Commonwealth Equity Services LLC increased its holdings in Incyte by 12.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 20,009 shares of the biopharmaceutical company’s stock valued at $1,156,000 after purchasing an additional 2,197 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Incyte by 100.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 25,097 shares of the biopharmaceutical company’s stock valued at $1,450,000 after buying an additional 12,576 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Incyte by 95.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 250,077 shares of the biopharmaceutical company’s stock valued at $14,447,000 after buying an additional 122,045 shares during the period. Mackenzie Financial Corp grew its position in Incyte by 10.7% in the 3rd quarter. Mackenzie Financial Corp now owns 328,211 shares of the biopharmaceutical company’s stock valued at $19,220,000 after acquiring an additional 31,750 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in Incyte by 4.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 55,708 shares of the biopharmaceutical company’s stock valued at $3,218,000 after acquiring an additional 2,554 shares in the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Price Performance

Shares of INCY opened at $54.37 on Wednesday. The firm has a fifty day moving average price of $55.83 and a 200 day moving average price of $57.54. The stock has a market cap of $12.21 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 1.35 and a beta of 0.69. Incyte Co. has a 1-year low of $50.27 and a 1-year high of $67.36. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.47 and a quick ratio of 3.43.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, February 13th. The biopharmaceutical company reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.09). The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. Incyte had a net margin of 19.78% and a return on equity of 12.83%. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the company earned $0.44 earnings per share. As a group, sell-side analysts anticipate that Incyte Co. will post 3.54 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Incyte in a report on Friday, February 23rd. They issued a “buy” rating and a $81.00 price objective for the company. TD Cowen cut their price objective on Incyte from $88.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. Cantor Fitzgerald started coverage on Incyte in a report on Tuesday, April 23rd. They set a “neutral” rating on the stock. Finally, William Blair reissued an “outperform” rating on shares of Incyte in a research report on Tuesday, February 6th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $74.93.

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.