Kentucky Retirement Systems Sells 151 Shares of Incyte Co. (NASDAQ:INCY)

Kentucky Retirement Systems decreased its stake in Incyte Co. (NASDAQ:INCY) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,985 shares of the biopharmaceutical company’s stock after selling 151 shares during the period. Kentucky Retirement Systems’ holdings in Incyte were worth $759,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the business. Point72 Asset Management L.P. purchased a new position in shares of Incyte in the third quarter worth about $156,611,000. Mizuho Securities USA LLC increased its stake in shares of Incyte by 13,814.7% in the third quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock worth $132,207,000 after purchasing an additional 1,985,726 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Incyte by 29.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,609,220 shares of the biopharmaceutical company’s stock valued at $106,369,000 after acquiring an additional 364,169 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Incyte by 5.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,265,966 shares of the biopharmaceutical company’s stock valued at $83,680,000 after acquiring an additional 70,596 shares in the last quarter. Finally, Barclays PLC grew its stake in Incyte by 8.1% during the third quarter. Barclays PLC now owns 1,031,932 shares of the biopharmaceutical company’s stock valued at $68,208,000 after acquiring an additional 77,542 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Insider Transactions at Incyte

In related news, insider Thomas Tray sold 650 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $70.64, for a total transaction of $45,916.00. Following the completion of the sale, the insider now directly owns 23,962 shares in the company, valued at $1,692,675.68. This represents a 2.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Steven H. Stein sold 12,352 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $4,867,831.23. This represents a 15.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,695 shares of company stock worth $1,444,356. 17.60% of the stock is currently owned by insiders.

Incyte Trading Up 2.6 %

Shares of INCY opened at $74.01 on Tuesday. The firm has a market cap of $14.32 billion, a price-to-earnings ratio of 274.12, a PEG ratio of 0.41 and a beta of 0.70. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The firm has a 50 day moving average price of $71.32 and a 200-day moving average price of $69.60.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data 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%. As a group, equities research analysts forecast that Incyte Co. will post 4.86 earnings per share for the current year.

Analysts Set New Price Targets

INCY has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. Morgan Stanley boosted their price objective on shares of Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. StockNews.com cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 12th. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a research note on Tuesday, February 11th. Finally, Royal Bank of Canada reduced their price objective on shares of Incyte from $70.00 to $68.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Incyte has an average rating of “Hold” and a consensus price target of $75.25.

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.