Teacher Retirement System of Texas Boosts Stock Position in Incyte Corporation $INCY

Teacher Retirement System of Texas lifted its stake in Incyte Corporation (NASDAQ:INCY) by 2.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 46,048 shares of the biopharmaceutical company’s stock after purchasing an additional 1,243 shares during the quarter. Teacher Retirement System of Texas’ holdings in Incyte were worth $3,136,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Czech National Bank raised its stake in Incyte by 6.4% during the second quarter. Czech National Bank now owns 39,271 shares of the biopharmaceutical company’s stock worth $2,674,000 after purchasing an additional 2,378 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Incyte by 0.7% during the 1st quarter. Principal Financial Group Inc. now owns 213,947 shares of the biopharmaceutical company’s stock worth $12,954,000 after buying an additional 1,419 shares during the last quarter. Amalgamated Bank raised its position in shares of Incyte by 1.9% during the 1st quarter. Amalgamated Bank now owns 31,551 shares of the biopharmaceutical company’s stock valued at $1,910,000 after buying an additional 591 shares during the period. Poinciana Advisors Group LLC acquired a new position in Incyte in the second quarter valued at approximately $229,000. Finally, OMNI 360 Wealth Inc. purchased a new position in Incyte in the second quarter worth approximately $310,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Stock Performance

NASDAQ:INCY opened at $93.48 on Friday. Incyte Corporation has a 52 week low of $53.56 and a 52 week high of $95.10. The company has a fifty day simple moving average of $86.30 and a two-hundred day simple moving average of $74.85. The company has a quick ratio of 2.78, a current ratio of 3.20 and a debt-to-equity ratio of 0.01. The company has a market cap of $18.25 billion, a price-to-earnings ratio of 15.66, a price-to-earnings-growth ratio of 0.70 and a beta of 0.73.

Wall Street Analyst Weigh In

A number of research firms have commented on INCY. JPMorgan Chase & Co. lifted their target price on Incyte from $73.00 to $89.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. Wall Street Zen upgraded shares of Incyte from a “buy” rating to a “strong-buy” rating in a report on Saturday. Citigroup upped their target price on shares of Incyte from $88.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, July 30th. Guggenheim reiterated a “neutral” rating on shares of Incyte in a research report on Friday, September 19th. Finally, Wells Fargo & Company upped their price objective on shares of Incyte from $89.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Incyte has an average rating of “Hold” and an average price target of $89.25.

About Incyte

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.