Defence

New York State Common Retirement Fund cut Incyte Co holdings. (NASDAQ:INCY)


New York State Common Retirement Fund reduced its position in shares of Incyte Co. (NASDAQ: INCYGet a rating) by 1.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 213,773 shares of the biopharmaceutical company’s stock after selling 2,957 shares during the quarter. New York State Common Retirement Fund owned 0.10% of Incyte worth $16,978,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. AlphaMark Advisors LLC bought a new position in shares of Incyte during the 4th quarter worth about $35,000. Glassman Wealth Services boosted its position in shares of Incyte by 52.1% during the 4th quarter. Glassman Wealth Services now owns 502 shares of the biopharmaceutical company’s stock valued at $37,000 after buying an additional 172 shares in the last quarter. National Bank of Canada FI acquired a new position in shares of Incyte during the 4th quarter worth about $44,000. Ellevest Inc. grew its position in shares of Incyte by 210.1% in the 1st quarter. Now Ellevest Inc. now owns 673 shares of the biopharmaceutical company’s stock valued at $53,000 after buying an additional 456 shares in the last quarter. Finally, CWM LLC acquired a new position in shares of Incyte during the 4th quarter worth about $51,000. Currently, 92.78% of the shares are owned by institutional investors and hedge funds.

Incyte’s stock fell 0.9%

Actions NASDAQ INCY opened at $71.91 on Friday. Incyte Co. has a 52-week low of $61.91 and a 52-week high of $84.86. The company has a fifty day moving average of $76.26 and a 200 day moving average of $75.23. The stock has a market cap of $15.93 billion, a PE ratio of 16.92, a P/E/G ratio of 0.85 and a beta of 0.64. The company has a quick ratio of 3.67, a current ratio of 4.14, and a debt-to-equity ratio of 0.01.

Incitement (NASDAQ: INCYGet a rating) last announced its quarterly earnings data on Tuesday, August 2nd. The biopharmaceutical company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.22. Incyte had a net margin of 28.46% and a return on equity of 13.02%. The company had revenue of $911.40 million for the quarter, compared to analysts’ consensus estimates of $818.25 million. During the same period last year, the company earned $0.65 per share. The company’s quarterly income increased by 29.1% compared to the same quarter last year. On average, analysts expect that Incyte Co. will post 2.37 EPS for the current year.

Insider buying and selling

In related news, Insider Thomas Trey sold 1,564 shares of the company’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $83.13, for a total transaction of $130,015.32. Following the completion of the sale, the insider now directly owns 17,702 shares in the company, valued at approximately $1,471,567.26. The sale was disclosed in filings with the SEC, which can be accessed via SEC website. In related news, Insider Thomas Trey sold 1,564 shares of the company’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $83.13, for a total transaction of $130,015.32. Following the completion of the sale, the insider now directly owns 17,702 shares in the company, valued at approximately $1,471,567.26. The sale was disclosed in filings with the SEC, which can be accessed via SEC website. Also, the EVP Vijay K. Iyengar sold 5,787 shares of the company’s stock in a transaction on Thursday, July 7th. The shares were sold at an average price of $79.38, for a total transaction amounting to $459,372.06. Following the sale, the executive vice president now directly owns 40,313 shares in the company, valued at $3,200,045.94. Disclosures for this sale can be found here here. 15.80% of shares are owned by corporate insiders.

Analysts set new price targets

Several brokerages recently issued reports on INCY. StockNews.com upgraded Incyte from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. TheStreet upgraded Incyte from a “c” rating to a “b” rating in a report on Tuesday. Wells Fargo & Company began coverage on Incyte in a report on Thursday, July 28th. They issued an “equal weight” rating and a $76.00 price target for the company. Morgan Stanley reduced their price target on Incyte from $77.00 to $76.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, Evercore ISI downgraded Incyte from an “outperform” rating to an “hold” rating and cut their price target for the company from $90.00 to $78.00 in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $84.92.

Incyte profile

(Get a rating)

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development and commercialization of proprietary therapeutics in the United States and internationally. The company offers the drug JAKAFI for the treatment of myelofibrosis and polycythemia vera; PEMAZYRE, an inhibitor of fibroblast growth factor receptor kinases that act as oncogenic drivers in various solid and liquid tumor types; and ICLUSIG, a kinase inhibitor for the treatment of chronic myeloid leukemia and Philadelphia chromosome-positive acute lymphoblastic leukemia.

Selected articles

Institutional Ownership of Incyte (NASDAQ:INCY) by Quarter



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https://www.defenseworld.net/2022/08/05/new-york-state-common-retirement-fund-decreases-holdings-in-incyte-co-nasdaqincy.html New York State Common Retirement Fund cut Incyte Co holdings. (NASDAQ:INCY)

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