Incyte Co. (NASDAQ:INCY) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board lowered its stake in Incyte Co. (NASDAQ:INCY) by 65.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,329 shares of the biopharmaceutical company’s stock after selling 17,847 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Incyte were worth $531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Incyte during the 4th quarter worth about $123,253,000. LSV Asset Management boosted its holdings in Incyte by 119.6% in the fourth quarter. LSV Asset Management now owns 2,691,827 shares of the biopharmaceutical company’s stock valued at $169,020,000 after purchasing an additional 1,465,792 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Incyte by 2,858.4% in the fourth 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. KBC Group NV boosted its holdings in Incyte by 842.2% in the fourth quarter. KBC Group NV now owns 955,749 shares of the biopharmaceutical company’s stock valued at $60,011,000 after purchasing an additional 854,311 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in Incyte by 37.1% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,570,296 shares of the biopharmaceutical company’s stock valued at $98,599,000 after purchasing an additional 424,934 shares in the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Stock Performance

Shares of Incyte stock traded down $0.68 during trading hours on Monday, hitting $65.19. 1,239,573 shares of the company were exchanged, compared to its average volume of 2,556,870. Incyte Co. has a 1 year low of $50.27 and a 1 year high of $67.36. The company has a current ratio of 3.47, a quick ratio of 3.43 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average of $60.04 and a 200-day moving average of $58.58. The stock has a market capitalization of $14.64 billion, a price-to-earnings ratio of 19.78, a P/E/G ratio of 1.38 and a beta of 0.73.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.31). The company had revenue of $880.89 million for the quarter, compared to analysts’ expectations of $935.85 million. Incyte had a return on equity of 12.83% and a net margin of 19.78%. As a group, analysts expect that Incyte Co. will post 3.66 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Oppenheimer lowered their price target on Incyte from $92.00 to $84.00 and set an “outperform” rating for the company in a report on Wednesday, April 24th. BMO Capital Markets reaffirmed an “underperform” rating and issued a $48.00 price target (down from $52.00) on shares of Incyte in a report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on Incyte in a report on Thursday, May 23rd. They issued a “hold” rating and a $55.00 price target for the company. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a report on Tuesday, June 18th. Finally, Truist Financial reiterated a “buy” rating and issued a $83.00 price objective (down previously from $84.00) on shares of Incyte in a research note on Wednesday, May 1st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $73.44.

Insiders Place Their Bets

In other Incyte news, insider Thomas Tray sold 1,093 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $58.91, for a total value of $64,388.63. Following the sale, the insider now owns 21,634 shares of the company’s stock, valued at $1,274,458.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Thomas Tray sold 1,093 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $58.91, for a total transaction of $64,388.63. Following the sale, the insider now owns 21,634 shares of the company’s stock, valued at $1,274,458.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Barry P. Flannelly sold 19,164 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total value of $1,149,840.00. Following the sale, the executive vice president now directly owns 66,377 shares in the company, valued at approximately $3,982,620. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,711 shares of company stock worth $1,786,941. 17.50% of the stock is owned by corporate insiders.

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.