California State Teachers Retirement System Grows Holdings in Incyte Co. (NASDAQ:INCY)

California State Teachers Retirement System boosted its position in shares of Incyte Co. (NASDAQ:INCY) by 0.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 241,033 shares of the biopharmaceutical company’s stock after purchasing an additional 1,833 shares during the period. California State Teachers Retirement System’s holdings in Incyte were worth $16,648,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of INCY. Quintet Private Bank Europe S.A. bought a new position in shares of Incyte in the 4th quarter worth approximately $26,000. Global X Japan Co. Ltd. grew its holdings in shares of Incyte by 144.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 230 shares in the last quarter. R Squared Ltd purchased a new position in Incyte during the fourth quarter worth $30,000. Raiffeisen Bank International AG bought a new stake in shares of Incyte during the fourth quarter worth $34,000. Finally, Blue Trust Inc. boosted its stake in shares of Incyte by 124.6% during the fourth quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 329 shares during the period. 96.97% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Incyte

In related news, EVP Sheila A. Denton sold 599 shares of Incyte stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $69.99, for a total value of $41,924.01. Following the sale, the executive vice president now directly owns 25,848 shares in the company, valued at $1,809,101.52. The trade was a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Barry P. Flannelly sold 19,807 shares of Incyte stock in a transaction on Friday, March 14th. The stock was sold at an average price of $67.69, for a total value of $1,340,735.83. Following the transaction, the executive vice president now directly owns 33,567 shares of the company’s stock, valued at approximately $2,272,150.23. This represents a 37.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 17.80% of the company’s stock.

Incyte Price Performance

INCY opened at $65.25 on Friday. The stock’s 50-day moving average price is $60.80 and its 200 day moving average price is $67.52. Incyte Co. has a 12-month low of $53.56 and a 12-month high of $83.95. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. The firm has a market cap of $12.63 billion, a price-to-earnings ratio of 241.68, a PEG ratio of 0.41 and a beta of 0.68.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.15. Incyte had a return on equity of 0.05% and a net margin of 0.77%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $996.17 million. During the same quarter last year, the company earned $0.64 EPS. Incyte’s revenue for the quarter was up 19.5% compared to the same quarter last year. As a group, sell-side analysts expect that Incyte Co. will post 4.86 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Guggenheim downgraded Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price objective for the company. in a report on Tuesday, March 18th. JMP Securities reiterated a “market perform” rating on shares of Incyte in a research report on Tuesday, February 11th. Wall Street Zen raised Incyte from a “buy” rating to a “strong-buy” rating in a report on Wednesday, April 30th. Morgan Stanley reduced their target price on Incyte from $69.00 to $65.00 and set an “equal weight” rating for the company in a research note on Monday, March 24th. Finally, Stifel Nicolaus increased their price objective on Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a research note on Monday, February 10th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Incyte has a consensus rating of “Hold” and an average target price of $73.60.

Incyte 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.