Strs Ohio Cuts Stock Position in Incyte Corporation $INCY

Strs Ohio lowered its holdings in Incyte Corporation (NASDAQ:INCY) by 9.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,956 shares of the biopharmaceutical company’s stock after selling 3,126 shares during the period. Strs Ohio’s holdings in Incyte were worth $2,108,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FNY Investment Advisers LLC purchased a new position in Incyte in the second quarter worth $27,000. Banque Transatlantique SA purchased a new position in Incyte in the first quarter worth $26,000. Hilltop National Bank purchased a new position in Incyte in the second quarter worth $37,000. SVB Wealth LLC purchased a new position in shares of Incyte during the 1st quarter valued at $39,000. Finally, 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. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on INCY. Piper Sandler upped their price target on Incyte from $82.00 to $102.00 and gave the company an “overweight” rating in a research report on Tuesday. Bank of America upped their price target on Incyte from $90.00 to $104.00 and gave the company a “buy” rating in a research report on Thursday, September 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Incyte in a research report on Wednesday, October 8th. UBS Group reaffirmed a “neutral” rating and set a $68.00 price target (up previously from $62.00) on shares of Incyte in a research report on Wednesday, July 30th. Finally, Barclays upped their price target on Incyte from $90.00 to $101.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $92.77.

Incyte Stock Performance

Shares of INCY opened at $102.92 on Wednesday. The stock’s 50-day simple moving average is $87.02 and its 200 day simple moving average is $75.59. The stock has a market capitalization of $20.21 billion, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 0.70 and a beta of 0.73. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.78 and a current ratio of 3.20. Incyte Corporation has a 52-week low of $53.56 and a 52-week high of $103.86.

About Incyte

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.