State Board of Administration of Florida Retirement System lowered its position in shares of Incyte Co. (NASDAQ:INCY) by 1.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 234,583 shares of the biopharmaceutical company’s stock after selling 3,139 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.11% of Incyte worth $19,735,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of Incyte by 4.0% in the 1st quarter. Geode Capital Management LLC now owns 3,383,226 shares of the biopharmaceutical company’s stock valued at $274,258,000 after acquiring an additional 128,752 shares in the last quarter. ARK Investment Management LLC boosted its position in Incyte by 67.6% during the first quarter. ARK Investment Management LLC now owns 2,988,149 shares of the biopharmaceutical company’s stock valued at $242,847,000 after purchasing an additional 1,205,769 shares during the last quarter. Royal Bank of Canada grew its stake in Incyte by 14.6% in the first quarter. Royal Bank of Canada now owns 2,275,442 shares of the biopharmaceutical company’s stock valued at $184,924,000 after purchasing an additional 289,496 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Incyte by 0.3% during the 1st quarter. Bank of New York Mellon Corp now owns 1,483,501 shares of the biopharmaceutical company’s stock worth $120,564,000 after purchasing an additional 4,307 shares during the last quarter. Finally, TD Asset Management Inc. raised its stake in shares of Incyte by 1.5% during the 1st quarter. TD Asset Management Inc. now owns 1,057,129 shares of the biopharmaceutical company’s stock worth $85,913,000 after purchasing an additional 15,746 shares in the last quarter. 91.98% of the stock is owned by institutional investors.
Shares of NASDAQ INCY opened at $75.99 on Friday. The firm has a market cap of $16.78 billion, a P/E ratio of 49.99, a price-to-earnings-growth ratio of 0.88 and a beta of 0.76. The business’s 50 day moving average is $76.15 and its 200-day moving average is $80.26. The company has a current ratio of 3.97, a quick ratio of 3.94 and a debt-to-equity ratio of 0.01. Incyte Co. has a 1-year low of $70.97 and a 1-year high of $101.47.
In other Incyte news, EVP Dashyant Dhanak sold 388 shares of Incyte stock in a transaction on Wednesday, September 1st. The stock was sold at an average price of $76.71, for a total value of $29,763.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Vijay K. Iyengar sold 4,911 shares of the firm’s stock in a transaction on Thursday, July 29th. The stock was sold at an average price of $78.29, for a total value of $384,482.19. The disclosure for this sale can be found here. Insiders sold a total of 32,493 shares of company stock valued at $2,735,797 in the last quarter. Corporate insiders own 15.80% of the company’s stock.
INCY has been the topic of several analyst reports. SVB Leerink dropped their price target on shares of Incyte from $70.00 to $67.00 and set an “underperform” rating on the stock in a research report on Wednesday, August 4th. Royal Bank of Canada cut their target price on shares of Incyte from $92.00 to $88.00 and set a “sector perform” rating for the company in a research note on Friday, June 25th. William Blair reissued an “outperform” rating on shares of Incyte in a research report on Tuesday, June 15th. TheStreet cut Incyte from a “b-” rating to a “c+” rating in a research report on Friday, August 20th. Finally, Benchmark raised Incyte from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a report on Tuesday, July 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $92.29.
Incyte Corp. is a biopharmaceutical company, which engages in the discovery, development and commercialization of proprietary 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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