Incyte Co. (NASDAQ:INCY) Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lifted its stake in Incyte Co. (NASDAQ:INCY) by 2.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 61,975 shares of the biopharmaceutical company’s stock after purchasing an additional 1,416 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Incyte were worth $4,281,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Orion Portfolio Solutions LLC acquired a new stake in shares of Incyte in the 3rd quarter worth $770,000. CWA Asset Management Group LLC purchased a new stake in shares of Incyte in the fourth quarter valued at about $1,933,000. Greenwood Capital Associates LLC acquired a new stake in Incyte during the third quarter worth about $433,000. Tri Ri Asset Management Corp purchased a new position in Incyte during the third quarter worth about $3,292,000. Finally, Cypress Capital Group acquired a new position in Incyte in the 3rd quarter valued at about $971,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Insider Buying and Selling

In other Incyte news, EVP Vijay K. Iyengar sold 6,043 shares of Incyte stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $75.38, for a total transaction of $455,521.34. Following the transaction, the executive vice president now owns 30,658 shares of the company’s stock, valued at $2,311,000.04. The trade was a 16.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Steven H. Stein sold 12,352 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 66,967 shares of the company’s stock, valued at approximately $4,867,831.23. This represents a 15.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,695 shares of company stock worth $1,444,356 over the last 90 days. 17.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on INCY shares. JPMorgan Chase & Co. raised their price target on shares of Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. JMP Securities reissued a “market perform” rating on shares of Incyte in a research note on Tuesday, February 11th. Wells Fargo & Company upped their price target on Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. William Blair reissued an “outperform” rating on shares of Incyte in a research report on Friday, December 13th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Incyte presently has an average rating of “Hold” and an average target price of $75.59.

Incyte Trading Down 1.6 %

INCY opened at $70.16 on Thursday. The business has a fifty day moving average price of $71.20 and a 200 day moving average price of $69.31. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95. The stock has a market capitalization of $13.58 billion, a price-to-earnings ratio of 259.86, a PEG ratio of 0.40 and a beta of 0.70.

Incyte (NASDAQ:INCY) last released its earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. Sell-side analysts expect that Incyte Co. will post 4.86 earnings per share for the current fiscal 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.