Incyte Co. (NASDAQ:INCY) Shares Sold by South Dakota Investment Council

South Dakota Investment Council reduced its stake in shares of Incyte Co. (NASDAQ:INCY) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 171,836 shares of the biopharmaceutical company’s stock after selling 5,200 shares during the quarter. South Dakota Investment Council’s holdings in Incyte were worth $10,790,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of INCY. Pacer Advisors Inc. grew its holdings in Incyte by 2,858.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,025,784 shares of the biopharmaceutical company’s stock valued at $64,409,000 after purchasing an additional 991,110 shares in the last quarter. Los Angeles Capital Management LLC increased its position in shares of Incyte by 585.8% in the third quarter. Los Angeles Capital Management LLC now owns 1,145,362 shares of the biopharmaceutical company’s stock worth $66,168,000 after acquiring an additional 978,342 shares in the last quarter. Acadian Asset Management LLC grew its position in Incyte by 56.6% during the third quarter. Acadian Asset Management LLC now owns 2,684,621 shares of the biopharmaceutical company’s stock valued at $155,053,000 after purchasing an additional 970,668 shares in the last quarter. Federated Hermes Inc. lifted its stake in Incyte by 145.2% in the third quarter. Federated Hermes Inc. now owns 864,710 shares of the biopharmaceutical company’s stock valued at $49,954,000 after acquiring an additional 512,083 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in Incyte by 85.3% in the third quarter. Royal Bank of Canada now owns 987,052 shares of the biopharmaceutical company’s stock valued at $57,021,000 after acquiring an additional 454,416 shares during the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

INCY has been the topic of a number of research reports. Stifel Nicolaus boosted their target price on shares of Incyte from $67.00 to $68.00 and gave the stock a “hold” rating in a research report on Wednesday, February 14th. Oppenheimer cut their price target on shares of Incyte from $92.00 to $84.00 and set an “outperform” rating on the stock in a research report on Wednesday. Bank of America decreased their price target on shares of Incyte from $69.00 to $67.00 and set a “neutral” rating for the company in a research note on Wednesday, March 13th. JMP Securities downgraded shares of Incyte from an “outperform” rating to a “market perform” rating in a report on Wednesday, February 14th. Finally, William Blair reaffirmed an “outperform” rating on shares of Incyte in a research report on Tuesday, February 6th. Nine research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $75.50.

Incyte Stock Performance

Shares of Incyte stock traded down $0.16 during trading hours on Wednesday, hitting $51.49. 697,452 shares of the company’s stock traded hands, compared to its average volume of 1,713,445. Incyte Co. has a 12-month low of $50.27 and a 12-month high of $75.74. The stock has a market capitalization of $11.56 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 1.20 and a beta of 0.65. The company has a fifty day simple moving average of $57.18 and a 200-day simple moving average of $57.82. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.55 and a quick ratio of 3.36.

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

Incyte Company 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.