California State Teachers Retirement System cut its stake in shares of Incyte Co. (NASDAQ:INCY) by 3.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 275,969 shares of the biopharmaceutical company’s stock after selling 9,277 shares during the period. California State Teachers Retirement System owned approximately 0.13% of Incyte worth $22,996,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Sands Capital Management LLC grew its stake in Incyte by 8.2% in the fourth quarter. Sands Capital Management LLC now owns 8,191,287 shares of the biopharmaceutical company’s stock valued at $775,797,000 after acquiring an additional 621,323 shares during the period. Geode Capital Management LLC grew its stake in Incyte by 5.8% in the fourth quarter. Geode Capital Management LLC now owns 1,938,238 shares of the biopharmaceutical company’s stock valued at $183,205,000 after acquiring an additional 105,692 shares during the period. Manning & Napier Group LLC grew its stake in Incyte by 61.8% in the first quarter. Manning & Napier Group LLC now owns 1,875,220 shares of the biopharmaceutical company’s stock valued at $156,261,000 after acquiring an additional 716,584 shares during the period. Bank of New York Mellon Corp grew its stake in Incyte by 0.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,682,019 shares of the biopharmaceutical company’s stock valued at $159,304,000 after acquiring an additional 7,463 shares during the period. Finally, HealthCor Management L.P. grew its stake in Incyte by 125.5% in the fourth quarter. HealthCor Management L.P. now owns 1,350,000 shares of the biopharmaceutical company’s stock valued at $127,859,000 after acquiring an additional 751,450 shares during the period. 92.01% of the stock is owned by institutional investors and hedge funds.

In related news, President Herve Hoppenot bought 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 2nd. The shares were acquired at an average price of $60.94 per share, for a total transaction of $914,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Paula J. Swain sold 80,000 shares of the company’s stock in a transaction dated Monday, April 30th. The stock was sold at an average price of $62.43, for a total value of $4,994,400.00. Following the sale, the executive vice president now owns 39,467 shares in the company, valued at approximately $2,463,924.81. The disclosure for this sale can be found here. Corporate insiders own 17.20% of the company’s stock.

A number of research analysts have issued reports on the company. BidaskClub raised Incyte from a “strong sell” rating to a “sell” rating in a research note on Friday, June 15th. Oppenheimer set a $65.00 target price on Incyte and gave the company a “hold” rating in a research note on Tuesday, May 1st. JPMorgan Chase & Co. decreased their target price on Incyte from $96.00 to $88.00 and set an “overweight” rating for the company in a research note on Tuesday, April 24th. Piper Jaffray Companies assumed coverage on Incyte in a research note on Wednesday, May 30th. They issued a “buy” rating and a $85.00 target price for the company. Finally, ValuEngine cut Incyte from a “hold” rating to a “sell” rating in a research note on Saturday, April 7th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company. Incyte currently has a consensus rating of “Buy” and a consensus price target of $113.58.

Incyte opened at $72.98 on Wednesday, Marketbeat.com reports. The company has a quick ratio of 3.84, a current ratio of 3.86 and a debt-to-equity ratio of 0.01. The stock has a market cap of $15.68 billion, a PE ratio of 114.03 and a beta of 0.75. Incyte Co. has a fifty-two week low of $60.22 and a fifty-two week high of $140.11.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, May 1st. The biopharmaceutical company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.08. Incyte had a negative return on equity of 0.74% and a negative net margin of 10.90%. The company had revenue of $382.28 million during the quarter, compared to analysts’ expectations of $384.03 million. During the same period in the prior year, the firm earned $0.14 earnings per share. Incyte’s revenue for the quarter was down .5% compared to the same quarter last year. equities research analysts anticipate that Incyte Co. will post 0.13 EPS for the current fiscal year.

About Incyte

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States. It offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; and ICLUSIG, a kinase inhibitor for the treatment of chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

Receive News & Ratings for Incyte Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Incyte and related companies with MarketBeat.com's FREE daily email newsletter.