Commonwealth of Pennsylvania Public School Empls Retrmt SYS Decreases Position in Incyte Co. (NASDAQ:INCY)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its position in Incyte Co. (NASDAQ:INCY) by 2.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 33,999 shares of the biopharmaceutical company’s stock after selling 800 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Incyte were worth $2,348,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Point72 Asset Management L.P. acquired a new stake in Incyte in the 3rd quarter valued at about $156,611,000. Charles Schwab Investment Management Inc. increased its stake in shares of Incyte by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,643,067 shares of the biopharmaceutical company’s stock worth $113,487,000 after purchasing an additional 33,847 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Incyte by 7.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,127,515 shares of the biopharmaceutical company’s stock worth $77,877,000 after purchasing an additional 78,827 shares during the last quarter. Candriam S.C.A. lifted its stake in Incyte by 27.8% in the 4th quarter. Candriam S.C.A. now owns 1,034,652 shares of the biopharmaceutical company’s stock valued at $71,463,000 after buying an additional 224,919 shares in the last quarter. Finally, Barclays PLC grew its holdings in Incyte by 8.1% during the 3rd quarter. Barclays PLC now owns 1,031,932 shares of the biopharmaceutical company’s stock valued at $68,208,000 after buying an additional 77,542 shares during the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Wall Street Analysts Forecast Growth

INCY has been the topic of several recent research reports. UBS Group started coverage on Incyte in a research report on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 price objective on the stock. Royal Bank of Canada decreased their price target on shares of Incyte from $70.00 to $68.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 11th. Citigroup cut their price objective on shares of Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Wells Fargo & Company boosted their price target on Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $74.88.

Insider Activity at Incyte

In other news, EVP Steven H. Stein sold 12,352 shares of Incyte stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total transaction of $897,866.88. Following the sale, the executive vice president now owns 66,967 shares in the company, valued at $4,867,831.23. This trade represents a 15.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Sheila A. Denton sold 14,069 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total transaction of $1,042,090.83. Following the completion of the transaction, the executive vice president now owns 25,848 shares of the company’s stock, valued at $1,914,561.36. This trade represents a 35.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,827 shares of company stock worth $3,322,618. 17.60% of the stock is currently owned by company insiders.

Incyte Stock Performance

Shares of INCY stock opened at $62.78 on Tuesday. The company’s fifty day simple moving average is $70.42 and its 200-day simple moving average is $70.17. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. The company has a market cap of $12.15 billion, a PE ratio of 232.53, a P/E/G ratio of 0.41 and a beta of 0.76.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) 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%. As a group, equities research analysts anticipate that Incyte Co. will post 4.86 EPS for the current year.

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.