Public Sector Pension Investment Board Has $383,000 Stock Position in Incyte Co. (NASDAQ:INCY)

Public Sector Pension Investment Board raised its position in Incyte Co. (NASDAQ:INCY) by 71.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,322 shares of the biopharmaceutical company’s stock after acquiring an additional 2,636 shares during the period. Public Sector Pension Investment Board’s holdings in Incyte were worth $383,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. MFA Wealth Advisors LLC acquired a new position in Incyte in the 2nd quarter valued at approximately $26,000. Redmont Wealth Advisors LLC acquired a new position in Incyte in the 1st quarter valued at approximately $28,000. Riverview Trust Co acquired a new position in Incyte in the 1st quarter valued at approximately $29,000. Innealta Capital LLC acquired a new position in Incyte in the 2nd quarter valued at approximately $32,000. Finally, Fidelis Capital Partners LLC bought a new stake in shares of Incyte in the 1st quarter valued at approximately $32,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analyst Upgrades and Downgrades

INCY has been the topic of several analyst reports. Citigroup upped their price objective on Incyte from $80.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a research note on Monday, September 16th. William Blair reiterated an “outperform” rating on shares of Incyte in a research note on Monday, September 9th. Truist Financial reiterated a “hold” rating and issued a $74.00 price objective (down from $83.00) on shares of Incyte in a research note on Wednesday, September 18th. Finally, JMP Securities restated a “market perform” rating on shares of Incyte in a research report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Incyte presently has a consensus rating of “Hold” and an average target price of $73.83.

Insider Activity

In other news, insider Thomas Tray sold 572 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $62.94, for a total value of $36,001.68. Following the transaction, the insider now owns 24,825 shares of the company’s stock, valued at approximately $1,562,485.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Thomas Tray sold 572 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $62.94, for a total value of $36,001.68. Following the transaction, the insider now owns 24,825 shares of the company’s stock, valued at approximately $1,562,485.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Vijay K. Iyengar sold 15,571 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $70.00, for a total value of $1,089,970.00. Following the completion of the transaction, the executive vice president now directly owns 36,701 shares in the company, valued at approximately $2,569,070. The disclosure for this sale can be found here. Insiders have sold a total of 34,047 shares of company stock valued at $2,225,626 in the last 90 days. 17.50% of the stock is owned by company insiders.

Incyte Stock Down 0.9 %

Shares of INCY opened at $67.04 on Friday. The firm has a market capitalization of $15.05 billion, a price-to-earnings ratio of 20.32, a PEG ratio of 5.17 and a beta of 0.73. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.84 and a current ratio of 1.92. The business’s fifty day moving average price is $64.36 and its two-hundred day moving average price is $60.19. Incyte Co. has a 52 week low of $50.27 and a 52 week high of $70.36.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. Incyte had a net margin of 2.52% and a return on equity of 0.75%. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.77 earnings per share. On average, analysts predict that Incyte Co. will post 0.66 earnings per share for the current year.

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.