Oregon Public Employees Retirement Fund Buys 4,872 Shares of Incyte Corporation $INCY

Oregon Public Employees Retirement Fund lifted its stake in Incyte Corporation (NASDAQ:INCY) by 35.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,770 shares of the biopharmaceutical company’s stock after buying an additional 4,872 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Incyte were worth $1,592,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of INCY. Czech National Bank lifted its position in Incyte by 6.4% in the second quarter. Czech National Bank now owns 39,271 shares of the biopharmaceutical company’s stock worth $2,674,000 after buying an additional 2,378 shares during the last quarter. denkapparat Operations GmbH raised its stake in shares of Incyte by 46.1% in the second quarter. denkapparat Operations GmbH now owns 11,292 shares of the biopharmaceutical company’s stock valued at $769,000 after acquiring an additional 3,564 shares during the period. Callan Family Office LLC bought a new stake in shares of Incyte in the 2nd quarter worth about $636,000. Hussman Strategic Advisors Inc. lifted its holdings in shares of Incyte by 20.0% in the 2nd quarter. Hussman Strategic Advisors Inc. now owns 63,000 shares of the biopharmaceutical company’s stock worth $4,290,000 after acquiring an additional 10,500 shares during the last quarter. Finally, Burney Co. purchased a new position in shares of Incyte during the 3rd quarter worth about $1,883,000. 96.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Thomas Tray sold 2,774 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $100.00, for a total transaction of $277,400.00. Following the completion of the transaction, the insider owned 22,973 shares in the company, valued at $2,297,300. The trade was a 10.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Steven H. Stein sold 20,105 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $102.51, for a total transaction of $2,060,963.55. Following the sale, the executive vice president directly owned 63,129 shares of the company’s stock, valued at $6,471,353.79. The trade was a 24.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 98,897 shares of company stock worth $9,869,376 over the last ninety days. 17.80% of the stock is currently owned by corporate insiders.

Incyte Trading Up 2.4%

NASDAQ:INCY opened at $105.95 on Thursday. Incyte Corporation has a one year low of $53.56 and a one year high of $112.29. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.13 and a current ratio of 3.20. The firm has a market cap of $20.80 billion, a P/E ratio of 17.75, a P/E/G ratio of 0.62 and a beta of 0.82. The firm has a 50-day simple moving average of $102.21 and a 200-day simple moving average of $88.99.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, October 28th. The biopharmaceutical company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.61. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.26 billion. Incyte had a net margin of 24.69% and a return on equity of 26.56%. Incyte’s revenue was up 20.0% compared to the same quarter last year. During the same period last year, the company posted $1.07 earnings per share. Equities analysts anticipate that Incyte Corporation will post 4.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Incyte from $97.00 to $116.00 and gave the stock an “overweight” rating in a research note on Monday, December 8th. TD Cowen boosted their price objective on Incyte from $101.00 to $128.00 and gave the company a “buy” rating in a report on Tuesday. Truist Financial set a $103.00 target price on Incyte in a research note on Wednesday, December 24th. JPMorgan Chase & Co. boosted their target price on shares of Incyte from $73.00 to $89.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Finally, Oppenheimer downgraded shares of Incyte from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 8th. Ten investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $101.31.

Incyte Profile

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.