New Mexico Educational Retirement Board trimmed its position in shares of Incyte Co. (NASDAQ:INCY) by 17.9% during the 1st quarter, Holdings Channel reports. The fund owned 11,250 shares of the biopharmaceutical company’s stock after selling 2,450 shares during the period. New Mexico Educational Retirement Board’s holdings in Incyte were worth $824,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Procyon Private Wealth Partners LLC purchased a new stake in shares of Incyte during the 4th quarter worth approximately $29,000. Ballast Advisors LLC bought a new position in shares of Incyte during the 1st quarter valued at approximately $28,000. Advisory Alpha LLC increased its position in shares of Incyte by 2,122.2% during the 4th quarter. Advisory Alpha LLC now owns 400 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 382 shares during the last quarter. Simon Quick Advisors LLC bought a new position in shares of Incyte during the 1st quarter valued at approximately $38,000. Finally, Signaturefd LLC increased its position in shares of Incyte by 170.9% during the 1st quarter. Signaturefd LLC now owns 558 shares of the biopharmaceutical company’s stock valued at $41,000 after purchasing an additional 352 shares during the last quarter. 91.34% of the stock is currently owned by institutional investors and hedge funds.

INCY opened at $102.48 on Tuesday. Incyte Co. has a 12-month low of $62.48 and a 12-month high of $110.25. The company has a current ratio of 3.41, a quick ratio of 3.38 and a debt-to-equity ratio of 0.02. The business’s fifty day simple moving average is $98.33 and its 200-day simple moving average is $86.39. The company has a market capitalization of $22.05 billion, a price-to-earnings ratio of -58.56 and a beta of 1.05.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, May 5th. The biopharmaceutical company reported ($2.86) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($3.17). Incyte had a negative return on equity of 12.81% and a negative net margin of 16.87%. The firm had revenue of $568.51 million for the quarter, compared to the consensus estimate of $553.24 million. During the same period in the previous year, the company posted $0.62 EPS. Incyte’s quarterly revenue was up 14.2% compared to the same quarter last year. On average, equities research analysts predict that Incyte Co. will post -1.29 EPS for the current year.

Several research firms have recently weighed in on INCY. Credit Suisse Group reissued a “hold” rating and set a $88.00 target price on shares of Incyte in a research report on Wednesday, May 6th. BidaskClub raised Incyte from a “sell” rating to a “hold” rating in a research report on Thursday, June 18th. Mizuho reissued a “hold” rating and set a $79.00 target price on shares of Incyte in a research report on Sunday, April 19th. Cantor Fitzgerald boosted their target price on Incyte from $83.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, May 19th. Finally, William Blair reaffirmed a “buy” rating on shares of Incyte in a research report on Wednesday, June 17th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and thirteen have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $100.29.

In related news, EVP Dashyant Dhanak sold 961 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $96.84, for a total transaction of $93,063.24. Following the completion of the sale, the executive vice president now directly owns 20,948 shares in the company, valued at approximately $2,028,604.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Maria E. Pasquale sold 17,827 shares of the company’s stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $90.00, for a total value of $1,604,430.00. Following the sale, the executive vice president now owns 23,864 shares of the company’s stock, valued at $2,147,760. The disclosure for this sale can be found here. Insiders have sold a total of 48,627 shares of company stock valued at $4,723,543 over the last 90 days. 16.10% of the stock is currently owned by company insiders.

Incyte Company Profile

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

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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