Teacher Retirement System of Texas Acquires 5,135 Shares of Incyte Co. (NASDAQ:INCY)

Teacher Retirement System of Texas grew its holdings in shares of Incyte Co. (NASDAQ:INCY - Free Report) by 11.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,581 shares of the biopharmaceutical company's stock after acquiring an additional 5,135 shares during the quarter. Teacher Retirement System of Texas' holdings in Incyte were worth $3,425,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. CWA Asset Management Group LLC purchased a new position in Incyte in the 4th quarter worth approximately $1,933,000. Orion Portfolio Solutions LLC bought a new stake in shares of Incyte during the 3rd quarter worth $770,000. Tri Ri Asset Management Corp purchased a new position in Incyte in the third quarter worth $3,292,000. Bridgewater Associates LP increased its stake in Incyte by 142.8% in the third quarter. Bridgewater Associates LP now owns 308,632 shares of the biopharmaceutical company's stock valued at $20,401,000 after acquiring an additional 181,504 shares during the last quarter. Finally, Pallas Capital Advisors LLC purchased a new stake in Incyte during the fourth quarter valued at about $1,006,000. Institutional investors own 96.97% of the company's stock.

Incyte Trading Down 1.1 %

Shares of NASDAQ INCY traded down $0.70 during trading on Tuesday, hitting $62.08. 2,603,519 shares of the company traded hands, compared to its average volume of 2,267,810. Incyte Co. has a 1 year low of $50.35 and a 1 year high of $83.95. The firm has a market capitalization of $12.01 billion, a P/E ratio of 229.93, a P/E/G ratio of 0.41 and a beta of 0.76. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $70.42 and a 200-day moving average price of $70.17.

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Incyte (NASDAQ:INCY - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a net margin of 0.77% and a return on equity of 0.05%. On average, equities analysts predict that Incyte Co. will post 4.86 EPS for the current year.

Insider Activity at Incyte

In related news, EVP Sheila A. Denton sold 599 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $69.99, for a total value of $41,924.01. Following the completion of the transaction, the executive vice president now directly owns 25,848 shares of the company's stock, valued at $1,809,101.52. This represents a 2.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Barry P. Flannelly sold 19,807 shares of the business's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the sale, the executive vice president now owns 33,567 shares in the company, valued at $2,272,150.23. This trade represents a 37.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,827 shares of company stock valued at $3,322,618 over the last three months. 17.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on INCY. StockNews.com lowered Incyte from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, February 12th. Morgan Stanley decreased their target price on shares of Incyte from $69.00 to $65.00 and set an "equal weight" rating on the stock in a research note on Monday. Guggenheim cut shares of Incyte from a "buy" rating to a "neutral" rating and set a $92.00 price target for the company. in a research report on Tuesday, March 18th. Cantor Fitzgerald restated a "neutral" rating on shares of Incyte in a report on Friday, January 10th. Finally, William Blair lowered Incyte from an "outperform" rating to a "market perform" rating in a research report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $74.88.

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.