Illinois Municipal Retirement Fund Has $24 Million Holdings in Incyte Corporation $INCY

Illinois Municipal Retirement Fund raised its position in Incyte Corporation (NASDAQ:INCY) by 9.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 254,990 shares of the biopharmaceutical company’s stock after purchasing an additional 22,282 shares during the period. Illinois Municipal Retirement Fund owned 0.13% of Incyte worth $24,000,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of INCY. Elyxium Wealth LLC bought a new position in Incyte during the fourth quarter worth $28,000. Smithfield Trust Co boosted its position in Incyte by 135.0% during the fourth quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 162 shares during the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in Incyte during the fourth quarter valued at $35,000. Atlas Capital Advisors Inc. acquired a new stake in Incyte during the 4th quarter worth about $35,000. Finally, Leonteq Securities AG acquired a new stake in Incyte during the 4th quarter worth about $35,000. 96.97% of the stock is owned by institutional investors.

Insider Activity at Incyte

In other news, insider Pablo J. Cagnoni sold 18,667 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $96.50, for a total transaction of $1,801,365.50. Following the completion of the sale, the insider owned 262,692 shares in the company, valued at $25,349,778. The trade was a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.20% of the stock is currently owned by corporate insiders.

Incyte Price Performance

INCY stock opened at $115.09 on Thursday. The stock has a market capitalization of $22.99 billion, a PE ratio of 16.26, a price-to-earnings-growth ratio of 1.05 and a beta of 0.76. The company’s 50-day moving average is $104.23 and its 200-day moving average is $100.80. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.68 and a quick ratio of 3.60. Incyte Corporation has a 1 year low of $67.17 and a 1 year high of $118.97.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.43. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.22 billion. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The firm’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.16 EPS. Equities research analysts expect that Incyte Corporation will post 6.61 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Barclays lifted their price objective on Incyte from $117.00 to $134.00 and gave the stock an “overweight” rating in a research report on Tuesday. Royal Bank Of Canada raised their target price on Incyte from $95.00 to $99.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 7th. BMO Capital Markets lifted their target price on Incyte from $94.00 to $112.00 and gave the stock a “market perform” rating in a report on Monday. Truist Financial boosted their price target on Incyte from $103.00 to $105.00 and gave the company a “hold” rating in a research note on Monday, June 22nd. Finally, Oppenheimer reissued a “market perform” rating and issued a $107.00 price target on shares of Incyte in a research note on Monday, June 8th. Eight equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $109.95.

Incyte Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.