Teacher Retirement System of Texas Raises Position in Incyte Co. (NASDAQ:INCY)

Teacher Retirement System of Texas boosted its position in Incyte Co. (NASDAQ:INCY) by 11.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 49,581 shares of the biopharmaceutical company’s stock after acquiring an additional 5,135 shares during the period. Teacher Retirement System of Texas’ holdings in Incyte were worth $3,425,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of INCY. Point72 Asset Management L.P. bought a new stake in shares of Incyte during the 3rd quarter valued at $156,611,000. Charles Schwab Investment Management Inc. lifted its position 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 purchasing an additional 364,169 shares during the last quarter. Candriam S.C.A. lifted its holdings in shares of Incyte by 27.8% during the 4th quarter. Candriam S.C.A. now owns 1,034,652 shares of the biopharmaceutical company’s stock worth $71,463,000 after acquiring an additional 224,919 shares during the last quarter. LBP AM SA bought a new stake in Incyte during the fourth quarter worth about $13,905,000. Finally, Los Angeles Capital Management LLC boosted its stake in Incyte by 94.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 407,201 shares of the biopharmaceutical company’s stock worth $28,125,000 after buying an additional 197,406 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on INCY. Wells Fargo & Company upped their price target on shares of Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. Royal Bank of Canada lowered their price objective on Incyte from $70.00 to $68.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 11th. Stifel Nicolaus upped their price target on Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research note on Monday, February 10th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a research note on Friday, January 10th. Finally, Citigroup cut their target price on Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Incyte presently has an average rating of “Hold” and a consensus price target of $74.88.

Insider Activity at Incyte

In other Incyte news, EVP Sheila A. Denton sold 14,069 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $74.07, for a total transaction of $1,042,090.83. Following the sale, the executive vice president now directly owns 25,848 shares of the company’s stock, valued at $1,914,561.36. This trade represents a 35.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Barry P. Flannelly sold 19,807 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $67.69, for a total value of $1,340,735.83. Following the completion of the transaction, the executive vice president now directly owns 33,567 shares of the company’s stock, valued at approximately $2,272,150.23. This trade represents a 37.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,827 shares of company stock worth $3,322,618. 17.60% of the stock is owned by corporate insiders.

Incyte Price Performance

NASDAQ INCY opened at $62.78 on Tuesday. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95. The firm has a market capitalization of $12.15 billion, a P/E ratio of 232.53, a PEG ratio of 0.41 and a beta of 0.76. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $70.42 and a 200-day moving average price of $70.17.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS 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%. Equities research analysts anticipate that Incyte Co. will post 4.86 earnings per share for the current year.

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.