Illinois Municipal Retirement Fund Has $24 Million Stock Position in Incyte Corporation $INCY

Illinois Municipal Retirement Fund lifted its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 9.6% in the 1st quarter, HoldingsChannel reports. The fund owned 254,990 shares of the biopharmaceutical company’s stock after purchasing an additional 22,282 shares during the period. Illinois Municipal Retirement Fund’s holdings in Incyte were worth $24,000,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in INCY. Elyxium Wealth LLC bought a new stake in Incyte during the 4th quarter worth approximately $28,000. Smithfield Trust Co lifted its holdings in shares of Incyte by 135.0% in the fourth quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 162 shares in the last quarter. MUFG Securities EMEA plc bought a new position in shares of Incyte in the second quarter valued at approximately $32,000. CYBER HORNET ETFs LLC purchased a new position in shares of Incyte during the second quarter valued at approximately $33,000. Finally, Leonteq Securities AG purchased a new position in shares of Incyte during the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on INCY shares. Royal Bank Of Canada increased their price target on Incyte from $95.00 to $99.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 7th. Stifel Nicolaus set a $123.00 price objective on shares of Incyte in a report on Tuesday, June 9th. Oppenheimer reiterated a “market perform” rating and issued a $107.00 target price on shares of Incyte in a research note on Monday, June 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Incyte in a report on Monday, June 29th. Finally, Barclays raised their price target on shares of Incyte from $117.00 to $134.00 and gave the company an “overweight” rating in a research report on Tuesday. Eight equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $109.95.

Incyte Stock Performance

Shares of Incyte stock opened at $115.09 on Thursday. The business’s fifty day simple moving average is $104.23 and its 200 day simple moving average is $100.80. The firm has a market capitalization of $22.99 billion, a P/E ratio of 16.26, a price-to-earnings-growth ratio of 1.05 and a beta of 0.76. Incyte Corporation has a 12 month low of $67.17 and a 12 month high of $118.97. The company has a current ratio of 3.68, a quick ratio of 3.60 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.43. The business had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The business’s revenue was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.16 earnings per share. As a group, analysts anticipate that Incyte Corporation will post 6.61 EPS for the current year.

Insider Activity at Incyte

In related news, insider Pablo J. Cagnoni sold 18,667 shares of the business’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $96.50, for a total value of $1,801,365.50. Following the transaction, the insider directly owned 262,692 shares of the company’s stock, valued at approximately $25,349,778. The trade was a 6.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.20% of the stock is owned by insiders.

Incyte Profile

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.