Alaska Permanent Fund Corp Has $3.18 Million Stock Holdings in Incyte Co. (NASDAQ:INCY)

Alaska Permanent Fund Corp lowered its position in shares of Incyte Co. (NASDAQ:INCY) by 33.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 50,606 shares of the biopharmaceutical company’s stock after selling 25,830 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Incyte were worth $3,178,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vontobel Holding Ltd. increased its position in shares of Incyte by 1.2% in the 3rd quarter. Vontobel Holding Ltd. now owns 16,684 shares of the biopharmaceutical company’s stock valued at $964,000 after buying an additional 195 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Incyte by 40.0% in the fourth quarter. Allworth Financial LP now owns 802 shares of the biopharmaceutical company’s stock worth $50,000 after acquiring an additional 229 shares in the last quarter. Grandfield & Dodd LLC raised its position in shares of Incyte by 1.8% during the fourth quarter. Grandfield & Dodd LLC now owns 18,390 shares of the biopharmaceutical company’s stock worth $1,155,000 after purchasing an additional 319 shares during the period. MQS Management LLC lifted its holdings in shares of Incyte by 6.2% during the 3rd quarter. MQS Management LLC now owns 5,581 shares of the biopharmaceutical company’s stock valued at $322,000 after purchasing an additional 327 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its position in shares of 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 valued at $5,154,000 after purchasing an additional 335 shares during the period. Institutional investors own 96.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Citigroup lowered their price objective on shares of Incyte from $82.00 to $81.00 and set a “buy” rating on the stock in a research note on Wednesday, February 14th. Bank of America cut their price objective on Incyte from $69.00 to $67.00 and set a “neutral” rating for the company in a research report on Wednesday, March 13th. Jefferies Financial Group started coverage on Incyte in a report on Friday, February 23rd. They set a “buy” rating and a $81.00 target price on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $65.00 price target on shares of Incyte in a report on Monday, March 25th. Finally, JMP Securities downgraded shares of Incyte from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 14th. Nine analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $75.50.

Incyte Trading Up 0.2 %

Shares of INCY stock traded up $0.09 during trading hours on Wednesday, hitting $51.74. 1,542,911 shares of the company were exchanged, compared to its average volume of 1,724,642. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.36 and a current ratio of 3.55. Incyte Co. has a fifty-two week low of $50.27 and a fifty-two week high of $75.74. The company has a 50 day simple moving average of $57.18 and a two-hundred day simple moving average of $57.82. The firm has a market cap of $11.62 billion, a P/E ratio of 19.49, a P/E/G ratio of 1.20 and a beta of 0.65.

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