New York State Teachers Retirement System Sells 38,089 Shares of Incyte Co. (NASDAQ:INCY)

New York State Teachers Retirement System trimmed its position in Incyte Co. (NASDAQ:INCY - Free Report) by 18.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 173,895 shares of the biopharmaceutical company's stock after selling 38,089 shares during the quarter. New York State Teachers Retirement System owned approximately 0.08% of Incyte worth $11,494,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. MFA Wealth Advisors LLC acquired a new stake in shares of Incyte during the second quarter worth $26,000. Innealta Capital LLC acquired a new stake in Incyte during the second quarter worth about $32,000. Cromwell Holdings LLC raised its stake in Incyte by 101.1% during the third quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company's stock worth $37,000 after acquiring an additional 283 shares during the period. Fidelis Capital Partners LLC acquired a new position in Incyte in the first quarter valued at approximately $32,000. Finally, Itau Unibanco Holding S.A. acquired a new position in Incyte in the second quarter valued at approximately $36,000. 96.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on INCY. Truist Financial reissued a "hold" rating and issued a $74.00 price target (down previously from $83.00) on shares of Incyte in a report on Wednesday, September 18th. Wolfe Research started coverage on Incyte in a research report on Tuesday, October 1st. They issued an "outperform" rating and a $84.00 target price on the stock. The Goldman Sachs Group boosted their price target on shares of Incyte from $63.00 to $70.00 and gave the company a "neutral" rating in a report on Wednesday. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Incyte in a report on Monday, September 16th. Finally, Wells Fargo & Company boosted their target price on shares of Incyte from $62.00 to $68.00 and gave the company an "equal weight" rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $76.74.

Insider Buying and Selling at Incyte

In other Incyte news, insider Thomas Tray sold 572 shares of Incyte stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total transaction of $36,001.68. Following the completion of the sale, the insider now owns 24,825 shares of the company's stock, valued at $1,562,485.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Incyte news, EVP Jonathan Elliott Dickinson sold 8,450 shares of Incyte stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 36,390 shares in the company, valued at $2,269,280.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Tray sold 572 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $62.94, for a total transaction of $36,001.68. Following the transaction, the insider now owns 24,825 shares in the company, valued at approximately $1,562,485.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 17.60% of the company's stock.

Incyte Stock Up 2.7 %

Shares of Incyte stock traded up $2.01 during midday trading on Friday, hitting $76.13. The company's stock had a trading volume of 2,261,651 shares, compared to its average volume of 1,430,823. Incyte Co. has a 1-year low of $50.35 and a 1-year high of $76.33. The company has a quick ratio of 1.84, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $14.67 billion, a P/E ratio of 543.82, a PEG ratio of 6.49 and a beta of 0.71. The stock has a 50-day simple moving average of $66.04 and a 200-day simple moving average of $61.97.

Incyte (NASDAQ:INCY - Get Free Report) last released its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.12). The business had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The company's revenue was up 23.8% compared to the same quarter last year. During the same period last year, the firm earned $0.91 EPS. As a group, sell-side analysts expect that Incyte Co. will post 0.52 earnings per share for the current year.

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.