California State Teachers Retirement System increased its stake in Incyte Co. (NASDAQ:INCY) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 283,382 shares of the biopharmaceutical company’s stock after acquiring an additional 3,026 shares during the period. California State Teachers Retirement System owned approximately 0.13% of Incyte worth $18,020,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Bremer Trust National Association bought a new position in shares of Incyte in the fourth quarter valued at approximately $42,000. Edge Wealth Management LLC bought a new position in shares of Incyte in the fourth quarter valued at approximately $64,000. Ledyard National Bank bought a new position in shares of Incyte in the fourth quarter valued at approximately $80,000. ETF Managers Group LLC boosted its holdings in shares of Incyte by 15.8% in the fourth quarter. ETF Managers Group LLC now owns 1,564 shares of the biopharmaceutical company’s stock valued at $99,000 after acquiring an additional 213 shares in the last quarter. Finally, Quantamental Technologies LLC bought a new position in shares of Incyte in the fourth quarter valued at approximately $152,000. Institutional investors and hedge funds own 90.33% of the company’s stock.
Shares of NASDAQ:INCY opened at $84.80 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.31 and a quick ratio of 4.29. The company has a market capitalization of $18.15 billion, a P/E ratio of 103.41, a PEG ratio of 1.25 and a beta of 1.40. Incyte Co. has a 52 week low of $57.00 and a 52 week high of $90.56.
Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Thursday, February 14th. The biopharmaceutical company reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.15. The business had revenue of $528.40 million during the quarter, compared to the consensus estimate of $485.72 million. Incyte had a net margin of 5.82% and a return on equity of 6.17%. The firm’s quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.02 EPS. On average, research analysts expect that Incyte Co. will post 1.27 earnings per share for the current year.
A number of analysts recently weighed in on INCY shares. Zacks Investment Research upgraded shares of Incyte from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a report on Tuesday, December 11th. Cowen restated a “buy” rating on shares of Incyte in a report on Sunday, December 9th. BidaskClub upgraded shares of Incyte from a “hold” rating to a “buy” rating in a report on Friday, November 23rd. JPMorgan Chase & Co. restated a “buy” rating on shares of Incyte in a report on Thursday, January 10th. Finally, Guggenheim upgraded shares of Incyte from a “neutral” rating to a “buy” rating in a report on Thursday, January 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Incyte presently has an average rating of “Buy” and a consensus price target of $92.40.
In related news, insider Paul Trower sold 9,187 shares of the company’s stock in a transaction that occurred on Monday, January 7th. The shares were sold at an average price of $75.00, for a total value of $689,025.00. Following the completion of the sale, the insider now owns 23,359 shares in the company, valued at approximately $1,751,925. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Barry P. Flannelly sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, January 28th. The shares were sold at an average price of $80.00, for a total transaction of $80,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 91,354 shares of company stock valued at $6,925,324. 17.20% of the stock is owned by insiders.
Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of various therapeutics in the United States. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and Iclusig, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.
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