Illinois Municipal Retirement Fund Sells 4,885 Shares of Incyte Corporation (NASDAQ:INCY)

Illinois Municipal Retirement Fund decreased its position in shares of Incyte Corporation (NASDAQ:INCY - Free Report) by 2.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 174,846 shares of the biopharmaceutical company's stock after selling 4,885 shares during the period. Illinois Municipal Retirement Fund owned approximately 0.09% of Incyte worth $10,587,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. increased its position in Incyte by 10.3% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,391,107 shares of the biopharmaceutical company's stock worth $84,232,000 after buying an additional 130,320 shares during the period. Chevy Chase Trust Holdings LLC grew its holdings in shares of Incyte by 0.4% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 84,241 shares of the biopharmaceutical company's stock worth $5,101,000 after purchasing an additional 334 shares in the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of Incyte by 0.8% during the 1st quarter. Asset Management One Co. Ltd. now owns 90,031 shares of the biopharmaceutical company's stock worth $5,451,000 after purchasing an additional 747 shares in the last quarter. Continuum Advisory LLC grew its holdings in shares of Incyte by 11,127.5% during the 1st quarter. Continuum Advisory LLC now owns 62,088 shares of the biopharmaceutical company's stock worth $3,759,000 after purchasing an additional 61,535 shares in the last quarter. Finally, Whalen Wealth Management Inc. grew its holdings in shares of Incyte by 61.6% during the 1st quarter. Whalen Wealth Management Inc. now owns 5,740 shares of the biopharmaceutical company's stock worth $348,000 after purchasing an additional 2,189 shares in the last quarter. Institutional investors own 96.97% of the company's stock.

Incyte Trading Down 3.4%

Incyte stock traded down $2.44 during trading hours on Friday, hitting $68.37. The stock had a trading volume of 3,495,236 shares, compared to its average volume of 1,978,911. Incyte Corporation has a one year low of $53.56 and a one year high of $83.95. The company has a quick ratio of 2.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.01. The stock has a market cap of $13.23 billion, a price-to-earnings ratio of 213.66, a P/E/G ratio of 0.58 and a beta of 0.67. The business's 50 day simple moving average is $64.49 and its 200-day simple moving average is $66.69.

Incyte (NASDAQ:INCY - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.15. Incyte had a return on equity of 2.77% and a net margin of 0.48%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $996.17 million. During the same period last year, the company earned $0.64 earnings per share. The firm's revenue was up 19.5% compared to the same quarter last year. On average, equities analysts predict that Incyte Corporation will post 4.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

INCY has been the topic of several analyst reports. Royal Bank Of Canada set a $67.00 target price on Incyte and gave the stock a "sector perform" rating in a report on Monday, June 23rd. Citigroup reaffirmed a "buy" rating on shares of Incyte in a research note on Tuesday, June 3rd. Guggenheim lowered Incyte from a "buy" rating to a "neutral" rating and set a $92.00 price objective on the stock. in a research note on Tuesday, March 18th. JPMorgan Chase & Co. reduced their price objective on Incyte from $70.00 to $68.00 and set a "neutral" rating on the stock in a research note on Monday, April 21st. Finally, UBS Group reaffirmed a "neutral" rating and issued a $61.00 price objective on shares of Incyte in a research note on Tuesday, June 3rd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $74.53.

Incyte Profile

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.