Oregon Public Employees Retirement Fund Increases Stock Holdings in Incyte Corporation $INCY

Oregon Public Employees Retirement Fund raised its holdings in Incyte Corporation (NASDAQ:INCY) by 35.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund 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.

A number of other large investors have also modified their holdings of INCY. Harbor Capital Advisors Inc. acquired a new position in shares of Incyte during the third quarter valued at about $26,000. FNY Investment Advisers LLC acquired a new position in Incyte during the 2nd quarter valued at approximately $27,000. MUFG Securities EMEA plc purchased a new position in shares of Incyte in the second quarter worth $32,000. CYBER HORNET ETFs LLC acquired a new stake in shares of Incyte during the second quarter worth $33,000. Finally, Hilltop National Bank purchased a new stake in shares of Incyte during the second quarter valued at $37,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on INCY shares. Cowen reaffirmed a “buy” rating on shares of Incyte in a research report on Tuesday. Weiss Ratings restated a “hold (c+)” rating on shares of Incyte in a research note on Wednesday, October 8th. Piper Sandler upped their price objective on shares of Incyte from $82.00 to $102.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. Wall Street Zen upgraded shares of Incyte from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. Finally, Morgan Stanley increased their price target on shares of Incyte from $92.00 to $94.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 6th. Ten research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $101.31.

Incyte Stock Performance

INCY opened at $105.95 on Thursday. The firm’s fifty day simple moving average is $102.21 and its two-hundred day simple moving average is $88.99. Incyte Corporation has a 52-week low of $53.56 and a 52-week high of $112.29. The company has a market cap of $20.80 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 0.62 and a beta of 0.82. The company has a quick ratio of 3.13, a current ratio of 3.20 and a debt-to-equity ratio of 0.01.

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

Insider Transactions at Incyte

In other Incyte news, EVP Steven H. Stein sold 20,105 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $102.51, for a total value of $2,060,963.55. Following the completion of the sale, the executive vice president owned 63,129 shares in the company, valued at approximately $6,471,353.79. This represents a 24.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mohamed Khairie Issa sold 10,856 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $109.07, for a total value of $1,184,063.92. Following the transaction, the executive vice president owned 66,132 shares in the company, valued at approximately $7,213,017.24. This represents a 14.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 98,897 shares of company stock valued at $9,869,376. Company insiders own 17.80% of the company’s stock.

About Incyte

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.