Maryland State Retirement & Pension System Has $586,000 Stock Holdings in Incyte Co. (NASDAQ:INCY)

Maryland State Retirement & Pension System lowered its position in shares of Incyte Co. (NASDAQ:INCY) by 7.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,490 shares of the biopharmaceutical company’s stock after selling 677 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Incyte were worth $586,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of INCY. Quintet Private Bank Europe S.A. acquired a new position in shares of Incyte in the 4th quarter valued at $26,000. Global X Japan Co. Ltd. lifted its holdings in Incyte by 144.7% during the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 230 shares in the last quarter. Brooklyn Investment Group acquired a new position in Incyte in the third quarter valued at about $30,000. R Squared Ltd bought a new stake in shares of Incyte in the fourth quarter worth about $30,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Incyte during the third quarter worth about $33,000. Institutional investors own 96.97% of the company’s stock.

Incyte Stock Performance

Shares of INCY opened at $62.78 on Tuesday. The company has a market cap of $12.15 billion, a PE ratio of 232.53, a price-to-earnings-growth ratio of 0.41 and a beta of 0.76. The firm has a 50-day moving average of $70.42 and a 200-day moving average of $70.17. Incyte Co. has a one year low of $50.35 and a one year high of $83.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. As a group, equities analysts forecast that Incyte Co. will post 4.86 earnings per share for the current year.

Insider Transactions at Incyte

In related news, EVP Barry P. Flannelly sold 19,807 shares of Incyte stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the completion of the sale, the executive vice president now owns 33,567 shares of the company’s stock, valued at approximately $2,272,150.23. The trade was a 37.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Steven H. Stein sold 12,352 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total transaction of $897,866.88. Following the completion of the transaction, the executive vice president now directly owns 66,967 shares in the company, valued at approximately $4,867,831.23. This represents a 15.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 46,827 shares of company stock worth $3,322,618. 17.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. Truist Financial reduced their price target on shares of Incyte from $74.00 to $72.00 and set a “hold” rating for the company in a report on Tuesday, March 18th. StockNews.com cut shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Guggenheim downgraded Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price target on the stock. in a research note on Tuesday, March 18th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $74.88.

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.