Teachers Retirement System of The State of Kentucky decreased its holdings in shares of Incyte Co. (NASDAQ:INCY) by 81.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 18,750 shares of the biopharmaceutical company’s stock after selling 81,421 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Incyte were worth $1,776,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Financial Gravity Companies Inc. purchased a new position in Incyte during the 4th quarter valued at about $120,000. Private Advisor Group LLC purchased a new position in Incyte during the 3rd quarter valued at about $203,000. Advantage Investment Management LLC increased its position in Incyte by 1,233.3% during the 4th quarter. Advantage Investment Management LLC now owns 2,000 shares of the biopharmaceutical company’s stock valued at $189,000 after purchasing an additional 1,850 shares during the period. Caxton Associates LP purchased a new position in Incyte during the 3rd quarter valued at about $257,000. Finally, Mission Wealth Management LP purchased a new position in Incyte during the 4th quarter valued at about $213,000. 93.56% of the stock is currently owned by institutional investors and hedge funds.
INCY has been the topic of a number of research reports. Royal Bank of Canada cut their target price on shares of Incyte from $136.00 to $120.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 21st. Nomura reissued a “buy” rating on shares of Incyte in a research report on Thursday, February 1st. Raymond James Financial set a $159.00 price target on shares of Incyte and gave the company a “buy” rating in a report on Wednesday, February 28th. Deutsche Bank started coverage on shares of Incyte in a report on Tuesday, December 12th. They issued a “hold” rating and a $106.00 price target on the stock. Finally, Credit Suisse Group set a $145.00 price target on shares of Incyte and gave the company a “buy” rating in a report on Wednesday, February 14th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $142.83.
Incyte (NASDAQ:INCY) last released its earnings results on Thursday, February 15th. The biopharmaceutical company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.54. The company had revenue of $444.20 million during the quarter, compared to analysts’ expectations of $435.23 million. Incyte had a negative net margin of 20.38% and a negative return on equity of 11.85%. Incyte’s revenue for the quarter was up 36.0% on a year-over-year basis. During the same period last year, the business earned $0.05 EPS. research analysts forecast that Incyte Co. will post -0.28 EPS for the current fiscal year.
In related news, insider David W. Gryska sold 6,760 shares of Incyte stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $98.87, for a total value of $668,361.20. Following the completion of the sale, the insider now directly owns 20,752 shares in the company, valued at approximately $2,051,750.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David W. Gryska sold 1,952 shares of Incyte stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $85.56, for a total transaction of $167,013.12. Following the completion of the sale, the insider now owns 12,922 shares of the company’s stock, valued at $1,105,606.32. The disclosure for this sale can be found here. Insiders sold a total of 15,670 shares of company stock valued at $1,489,181 over the last quarter. 17.70% of the stock is owned by company insiders.
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Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).
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