VIRGINIA RETIREMENT SYSTEMS ET Al Has $65.16 Million Holdings in Incyte Corporation $INCY

VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in shares of Incyte Corporation (NASDAQ:INCY) by 4.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 768,325 shares of the biopharmaceutical company’s stock after buying an additional 33,000 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.39% of Incyte worth $65,162,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new position in shares of Incyte during the third quarter valued at $26,000. FNY Investment Advisers LLC bought a new stake in shares of Incyte in the 2nd quarter worth about $27,000. Banque Transatlantique SA acquired a new stake in shares of Incyte during the 1st quarter worth about $26,000. MUFG Securities EMEA plc bought a new position in Incyte during the 2nd quarter valued at about $32,000. Finally, CYBER HORNET ETFs LLC acquired a new position in Incyte in the second quarter valued at about $33,000. 96.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on INCY. Wells Fargo & Company boosted their price objective on Incyte from $97.00 to $116.00 and gave the stock an “overweight” rating in a research note on Monday, December 8th. Zacks Research downgraded shares of Incyte from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Royal Bank Of Canada increased their price objective on shares of Incyte from $81.00 to $84.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 29th. Piper Sandler boosted their target price on shares of Incyte from $82.00 to $102.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Finally, Truist Financial set a $103.00 price target on shares of Incyte in a research note on Wednesday, December 24th. Eight analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Incyte currently has a consensus rating of “Hold” and an average target price of $99.79.

Incyte Stock Down 0.4%

Shares of NASDAQ INCY opened at $98.92 on Wednesday. Incyte Corporation has a 1 year low of $53.56 and a 1 year high of $109.28. The firm’s 50-day moving average is $100.08 and its 200-day moving average is $86.39. The company has a current ratio of 3.20, a quick ratio of 3.13 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $19.42 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 0.68 and a beta of 0.81.

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

Insider Buying and Selling

In other news, insider Thomas Tray sold 2,774 shares of the firm’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $100.00, for a total value of $277,400.00. Following the transaction, the insider directly owned 22,973 shares in the company, valued at $2,297,300. This trade represents a 10.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Lee Heeson sold 3,074 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $94.02, for a total value of $289,017.48. Following the completion of the sale, the executive vice president owned 29,241 shares of the company’s stock, valued at $2,749,238.82. This represents a 9.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 88,318 shares of company stock worth $8,708,893 over the last 90 days. 17.80% of the stock is currently owned by corporate insiders.

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.