State of Alaska Department of Revenue Reduces Stock Position in Incyte Co. (NASDAQ:INCY)

State of Alaska Department of Revenue decreased its position in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 46.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,234 shares of the biopharmaceutical company's stock after selling 15,825 shares during the quarter. State of Alaska Department of Revenue's holdings in Incyte were worth $1,259,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in INCY. CWM LLC grew its holdings in shares of Incyte by 79.3% during the third quarter. CWM LLC now owns 14,297 shares of the biopharmaceutical company's stock valued at $945,000 after buying an additional 6,325 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Incyte by 102.3% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,562 shares of the biopharmaceutical company's stock worth $103,000 after purchasing an additional 790 shares during the last quarter. Creative Planning boosted its holdings in Incyte by 6.2% in the third quarter. Creative Planning now owns 22,366 shares of the biopharmaceutical company's stock worth $1,478,000 after purchasing an additional 1,307 shares during the last quarter. V Square Quantitative Management LLC boosted its holdings in Incyte by 4.1% in the third quarter. V Square Quantitative Management LLC now owns 3,963 shares of the biopharmaceutical company's stock worth $262,000 after purchasing an additional 155 shares during the last quarter. Finally, Foundations Investment Advisors LLC purchased a new stake in Incyte in the third quarter worth approximately $220,000. Hedge funds and other institutional investors own 96.97% of the company's stock.

Incyte Price Performance

Shares of INCY stock traded up $0.41 on Friday, hitting $70.42. 1,882,071 shares of the stock traded hands, compared to its average volume of 1,255,658. The firm has a market cap of $13.57 billion, a price-to-earnings ratio of 503.04, a PEG ratio of 0.53 and a beta of 0.70. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95. The firm has a 50 day simple moving average of $71.26 and a two-hundred day simple moving average of $69.19. 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 data on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. As a group, equities research analysts predict that Incyte Co. will post 0.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. William Blair restated an "outperform" rating on shares of Incyte in a report on Friday, December 13th. Oppenheimer raised their target price on shares of Incyte from $81.00 to $82.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. JMP Securities restated a "market perform" rating on shares of Incyte in a report on Tuesday, February 11th. Bank of America upgraded shares of Incyte from a "neutral" rating to a "buy" rating and raised their target price for the stock from $68.00 to $90.00 in a report on Tuesday, October 29th. Finally, The Goldman Sachs Group lifted their price target on shares of Incyte from $63.00 to $70.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $75.59.

Insider Buying and Selling at Incyte

In other Incyte news, EVP Steven H. Stein sold 12,352 shares of Incyte stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total value of $897,866.88. Following the sale, the executive vice president now directly owns 66,967 shares in the company, valued at approximately $4,867,831.23. The trade was a 15.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Thomas Tray sold 650 shares of Incyte stock in a transaction on Monday, December 16th. The shares were sold at an average price of $69.31, for a total transaction of $45,051.50. Following the completion of the sale, the insider now owns 23,312 shares in the company, valued at approximately $1,615,754.72. This represents a 2.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,695 shares of company stock worth $1,444,356. Insiders own 17.60% of the company's stock.

Incyte Company 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.