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

Teachers Retirement System of The State of Kentucky lowered its position in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 6.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 369,913 shares of the biopharmaceutical company's stock after selling 24,733 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.19% of Incyte worth $24,451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. MFA Wealth Advisors LLC acquired a new stake in shares of Incyte during the 2nd quarter worth approximately $26,000. Brooklyn Investment Group acquired a new stake in shares of Incyte during the 3rd quarter worth approximately $30,000. Innealta Capital LLC acquired a new stake in shares of Incyte during the 2nd quarter worth approximately $32,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Incyte during the 3rd quarter worth approximately $33,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Incyte during the 2nd quarter worth approximately $36,000. Institutional investors and hedge funds own 96.97% of the company's stock.

Incyte Stock Up 0.0 %

Shares of Incyte stock traded up $0.01 during trading on Wednesday, hitting $72.49. 1,084,560 shares of the stock were exchanged, compared to its average volume of 2,340,388. The stock has a market cap of $13.97 billion, a price-to-earnings ratio of 517.71, a price-to-earnings-growth ratio of 8.75 and a beta of 0.69. The firm's 50-day moving average price is $71.94 and its 200 day moving average price is $66.03. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82.

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on INCY. Truist Financial reiterated a "hold" rating and issued a $74.00 target price (down previously from $83.00) on shares of Incyte in a report on Wednesday, September 18th. Wells Fargo & Company lifted their target price on shares of Incyte from $62.00 to $68.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. BMO Capital Markets reiterated an "underperform" rating and issued a $52.00 target price (up previously from $48.00) on shares of Incyte in a report on Wednesday, October 30th. Cantor Fitzgerald reiterated a "neutral" rating on shares of Incyte in a report on Tuesday, November 19th. Finally, William Blair reiterated an "outperform" rating on shares of Incyte in a report on Monday, September 9th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $77.16.

Insider Buying and Selling

In other Incyte news, EVP Jonathan Elliott Dickinson sold 8,450 shares of Incyte stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.36, for a total value of $526,942.00. Following the transaction, the executive vice president now directly owns 36,390 shares in the company, valued at approximately $2,269,280.40. The trade was a 18.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Barry P. Flannelly sold 3,680 shares of Incyte 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 completion of the transaction, the executive vice president now owns 58,042 shares in the company, valued at approximately $4,624,786.56. This represents a 5.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,745 shares of company stock worth $1,311,687 in the last ninety days. 17.60% of the stock is owned by corporate insiders.

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.