Public Employees Retirement System of Ohio Sells 2,422 Shares of Incyte Co. (NASDAQ:INCY)

Public Employees Retirement System of Ohio lowered its stake in shares of Incyte Co. (NASDAQ:INCY) by 3.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,030 shares of the biopharmaceutical company’s stock after selling 2,422 shares during the period. Public Employees Retirement System of Ohio’s holdings in Incyte were worth $7,281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its stake in Incyte by 1,719.2% during the first quarter. Tower Research Capital LLC TRC now owns 7,586 shares of the biopharmaceutical company’s stock worth $556,000 after buying an additional 7,169 shares during the period. State of Michigan Retirement System boosted its stake in Incyte by 12.7% during the second quarter. State of Michigan Retirement System now owns 46,104 shares of the biopharmaceutical company’s stock worth $4,793,000 after buying an additional 5,204 shares during the period. DNB Asset Management AS boosted its stake in Incyte by 24.3% during the second quarter. DNB Asset Management AS now owns 21,495 shares of the biopharmaceutical company’s stock worth $2,235,000 after buying an additional 4,208 shares during the period. State Street Corp boosted its stake in Incyte by 1.1% during the first quarter. State Street Corp now owns 8,369,821 shares of the biopharmaceutical company’s stock worth $612,922,000 after buying an additional 90,868 shares during the period. Finally, Eaton Vance Management boosted its stake in shares of Incyte by 89.9% during the first quarter. Eaton Vance Management now owns 376,629 shares of the biopharmaceutical company’s stock valued at $27,586,000 after purchasing an additional 178,295 shares during the period. Hedge funds and other institutional investors own 93.35% of the company’s stock.

In other news, CEO Herve Hoppenot sold 124,148 shares of the stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $102.91, for a total transaction of $12,776,070.68. Following the transaction, the chief executive officer now owns 245,250 shares in the company, valued at approximately $25,238,677.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Dashyant Dhanak sold 961 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $88.94, for a total value of $85,471.34. Following the transaction, the executive vice president now owns 28,971 shares in the company, valued at approximately $2,576,680.74. The disclosure for this sale can be found here. In the last 90 days, insiders sold 252,368 shares of company stock worth $26,711,586. Insiders own 16.10% of the company’s stock.

A number of analysts have recently issued reports on the stock. Mizuho assumed coverage on shares of Incyte in a research note on Tuesday, August 4th. They set a “hold” rating and a $95.00 target price for the company. Royal Bank of Canada boosted their target price on shares of Incyte from $91.00 to $92.00 and gave the company a “sector perform” rating in a research note on Monday, August 3rd. William Blair reissued a “buy” rating on shares of Incyte in a research note on Friday, July 24th. Oppenheimer reissued a “buy” rating and set a $121.00 target price on shares of Incyte in a research note on Friday, July 17th. Finally, BidaskClub lowered shares of Incyte from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 25th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $101.86.

INCY opened at $92.42 on Wednesday. Incyte Co. has a 52-week low of $62.48 and a 52-week high of $110.36. The firm’s 50-day moving average price is $94.77 and its 200-day moving average price is $92.95. The company has a quick ratio of 3.70, a current ratio of 3.73 and a debt-to-equity ratio of 0.01. The company has a market cap of $20.00 billion, a P/E ratio of -100.47 and a beta of 1.07.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, August 4th. The biopharmaceutical company reported $1.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.36. Incyte had a negative net margin of 8.00% and a negative return on equity of 8.06%. The company had revenue of $688.00 million for the quarter, compared to the consensus estimate of $617.55 million. During the same quarter in the prior year, the company earned $0.75 EPS. Incyte’s quarterly revenue was up 29.8% on a year-over-year basis. On average, research analysts anticipate that Incyte Co. will post -1.12 EPS for the current fiscal year.

About Incyte

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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