Incyte Co. (NASDAQ:INCY) Stock Holdings Trimmed by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its position in shares of Incyte Co. (NASDAQ:INCY) by 36.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,059 shares of the biopharmaceutical company’s stock after selling 19,330 shares during the period. State of Alaska Department of Revenue’s holdings in Incyte were worth $2,250,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its stake in Incyte by 17,460.4% during the second quarter. Pacer Advisors Inc. now owns 2,692,182 shares of the biopharmaceutical company’s stock worth $163,200,000 after purchasing an additional 2,676,851 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Incyte by 70.5% in the 2nd quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock valued at $159,905,000 after buying an additional 1,101,041 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Incyte by 28.0% in the 2nd quarter. Acadian Asset Management LLC now owns 3,560,989 shares of the biopharmaceutical company’s stock valued at $215,833,000 after buying an additional 779,243 shares during the period. Swedbank AB acquired a new stake in Incyte during the first quarter worth about $37,440,000. Finally, Allspring Global Investments Holdings LLC raised its stake in Incyte by 122.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 892,710 shares of the biopharmaceutical company’s stock worth $54,116,000 after acquiring an additional 490,680 shares during the period. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Stock Performance

INCY opened at $76.13 on Friday. The company has a quick ratio of 1.84, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. The firm has a market cap of $14.67 billion, a PE ratio of 543.79, a P/E/G ratio of 6.57 and a beta of 0.73. The business has a fifty day simple moving average of $66.04 and a 200-day simple moving average of $61.84. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $76.33.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the prior year, the business posted $0.91 EPS. The company’s revenue for the quarter was up 23.8% compared to the same quarter last year. As a group, equities analysts predict that Incyte Co. will post 0.51 EPS for the current fiscal year.

Insider Activity

In related news, insider Thomas Tray sold 572 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $62.94, for a total value of $36,001.68. Following the completion of the transaction, the insider now owns 24,825 shares of the company’s stock, valued at approximately $1,562,485.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Incyte news, insider Thomas Tray sold 572 shares of Incyte stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $62.94, for a total transaction of $36,001.68. Following the transaction, the insider now owns 24,825 shares of the company’s stock, valued at $1,562,485.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Jonathan Elliott Dickinson sold 8,450 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.36, for a total value of $526,942.00. Following the completion of the transaction, the executive vice president now owns 36,390 shares in the company, valued at $2,269,280.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 17.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a report on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft upped their price objective on Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Guggenheim raised their target price on Incyte from $86.00 to $92.00 and gave the company a “buy” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. upped their price target on shares of Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Morgan Stanley lifted their price objective on shares of Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $76.74.

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.