Incyte Co. (NASDAQ:INCY) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio reduced its stake in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 17.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,971 shares of the biopharmaceutical company's stock after selling 12,843 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Incyte were worth $3,898,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. MFA Wealth Advisors LLC bought a new stake in shares of Incyte in the second quarter valued at about $26,000. Brooklyn Investment Group purchased a new position in Incyte during the 3rd quarter valued at about $30,000. Innealta Capital LLC bought a new stake in shares of Incyte in the 2nd quarter valued at about $32,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Incyte in the 3rd quarter worth approximately $33,000. Finally, Itau Unibanco Holding S.A. bought a new position in shares of Incyte during the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 96.97% of the company's stock.

Insider Buying and Selling at Incyte

In related news, EVP Barry P. Flannelly sold 3,680 shares of the firm's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.68, for a total transaction of $293,222.40. Following the sale, the executive vice president now owns 58,042 shares in the company, valued at approximately $4,624,786.56. This trade represents a 5.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Vijay K. Iyengar sold 6,043 shares of the firm's stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $75.38, for a total value of $455,521.34. Following the completion of the sale, the executive vice president now directly owns 30,658 shares in the company, valued at approximately $2,311,000.04. The trade was a 16.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 17.60% of the company's stock.

Incyte Stock Performance

INCY stock traded up $1.25 during midday trading on Monday, reaching $69.80. The stock had a trading volume of 2,835,921 shares, compared to its average volume of 2,339,230. The firm has a fifty day simple moving average of $72.22 and a two-hundred day simple moving average of $66.40. Incyte Co. has a 52-week low of $50.35 and a 52-week high of $83.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. The stock has a market cap of $13.45 billion, a PE ratio of 498.57, a P/E/G ratio of 8.36 and a beta of 0.69.

Incyte (NASDAQ:INCY - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.12). The firm had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The company's revenue for the quarter was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.91 earnings per share. As a group, equities research analysts anticipate that Incyte Co. will post 0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

INCY has been the subject of a number of recent research reports. Wolfe Research began coverage on shares of Incyte in a research note on Tuesday, October 1st. They issued an "outperform" rating and a $84.00 price objective for the company. Cantor Fitzgerald reissued a "neutral" rating on shares of Incyte in a research report on Tuesday, November 19th. JPMorgan Chase & Co. raised their price objective on Incyte from $65.00 to $71.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Truist Financial reiterated a "hold" rating and issued a $74.00 target price (down from $83.00) on shares of Incyte in a report on Wednesday, September 18th. Finally, Morgan Stanley raised their price target on shares of Incyte from $64.00 to $69.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $76.13.

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.