California Public Employees Retirement System Lowers Holdings in Incyte Co. (NASDAQ:INCY)

California Public Employees Retirement System lowered its holdings in shares of Incyte Co. (NASDAQ:INCY) by 0.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,169,995 shares of the biopharmaceutical company’s stock after selling 356 shares during the quarter. California Public Employees Retirement System owned approximately 0.52% of Incyte worth $73,464,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in INCY. Allworth Financial LP grew its holdings in Incyte by 40.0% during the 4th quarter. Allworth Financial LP now owns 802 shares of the biopharmaceutical company’s stock valued at $50,000 after buying an additional 229 shares in the last quarter. Grandfield & Dodd LLC grew its stake in Incyte by 1.8% during the fourth quarter. Grandfield & Dodd LLC now owns 18,390 shares of the biopharmaceutical company’s stock valued at $1,155,000 after acquiring an additional 319 shares in the last quarter. MQS Management LLC increased its holdings in Incyte by 6.2% in the 3rd quarter. MQS Management LLC now owns 5,581 shares of the biopharmaceutical company’s stock valued at $322,000 after acquiring an additional 327 shares during the last quarter. Treasurer of the State of North Carolina lifted its stake in Incyte by 0.4% in the 3rd quarter. Treasurer of the State of North Carolina now owns 89,217 shares of the biopharmaceutical company’s stock worth $5,154,000 after purchasing an additional 335 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in shares of Incyte by 28.8% during the 3rd quarter. Covestor Ltd now owns 1,606 shares of the biopharmaceutical company’s stock valued at $93,000 after purchasing an additional 359 shares during the last quarter. Institutional investors own 96.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on INCY. William Blair restated an “outperform” rating on shares of Incyte in a report on Tuesday, February 6th. Cantor Fitzgerald began coverage on shares of Incyte in a research report on Tuesday. They issued a “neutral” rating on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $65.00 price objective on shares of Incyte in a research report on Monday, March 25th. Jefferies Financial Group initiated coverage on shares of Incyte in a report on Friday, February 23rd. They issued a “buy” rating and a $81.00 target price on the stock. Finally, Oppenheimer lowered their price target on shares of Incyte from $92.00 to $84.00 and set an “outperform” rating for the company in a report on Wednesday. Nine investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $75.50.

Incyte Stock Up 0.2 %

Shares of INCY opened at $51.74 on Thursday. The firm has a fifty day moving average price of $57.06 and a 200-day moving average price of $57.78. The company has a current ratio of 3.55, a quick ratio of 3.36 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $11.62 billion, a P/E ratio of 19.52, a P/E/G ratio of 1.19 and a beta of 0.65. Incyte Co. has a 12-month low of $50.27 and a 12-month high of $75.74.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, February 13th. The biopharmaceutical company reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.09). The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. Incyte had a return on equity of 12.56% and a net margin of 16.17%. Incyte’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 earnings per share. Equities research analysts expect that Incyte Co. will post 3.85 earnings per share for the current year.

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.