VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in Incyte Corporation $INCY

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Incyte Corporation (NASDAQ:INCY) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 735,325 shares of the biopharmaceutical company’s stock, valued at approximately $50,076,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.38% of Incyte as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Banque Transatlantique SA purchased a new position in Incyte in the first quarter valued at about $26,000. Hilltop National Bank bought a new position in Incyte during the second quarter valued at $37,000. SVB Wealth LLC bought a new stake in shares of Incyte in the first quarter valued at $39,000. Geneos Wealth Management Inc. lifted its position in shares of Incyte by 350.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 756 shares of the biopharmaceutical company’s stock valued at $46,000 after buying an additional 588 shares during the last quarter. Finally, WPG Advisers LLC bought a new position in shares of Incyte during the 1st quarter worth $47,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Analysts Set New Price Targets

INCY has been the topic of a number of research reports. Citigroup boosted their price objective on Incyte from $88.00 to $103.00 and gave the company a “buy” rating in a research note on Wednesday, July 30th. Barclays initiated coverage on shares of Incyte in a research report on Friday, August 1st. They issued an “overweight” rating and a $90.00 price target on the stock. Royal Bank Of Canada raised their price objective on shares of Incyte from $72.00 to $81.00 and gave the stock a “sector perform” rating in a report on Wednesday, September 24th. JPMorgan Chase & Co. increased their target price on Incyte from $73.00 to $89.00 and gave the stock a “neutral” rating in a research report on Thursday, October 9th. Finally, Wells Fargo & Company upgraded Incyte from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $67.00 to $89.00 in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Incyte has an average rating of “Hold” and a consensus target price of $84.79.

Incyte Trading Up 0.3%

Incyte stock opened at $87.57 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.78 and a current ratio of 2.85. Incyte Corporation has a fifty-two week low of $53.56 and a fifty-two week high of $92.86. The stock has a market cap of $17.10 billion, a P/E ratio of 19.90, a PEG ratio of 0.68 and a beta of 0.73. The firm’s fifty day moving average price is $85.20 and its 200-day moving average price is $72.54.

Insiders Place Their Bets

In other Incyte news, EVP Steven H. Stein sold 3,706 shares of the firm’s stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $67.94, for a total value of $251,785.64. Following the sale, the executive vice president owned 102,886 shares of the company’s stock, valued at $6,990,074.84. This trade represents a 3.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders sold 4,261 shares of company stock valued at $298,482. 17.80% of the stock is owned by corporate insiders.

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.