Teacher Retirement System of Texas Cuts Stake in Incyte Corporation $INCY

Key Points

• Teacher Retirement System of Texas cut its stake in Incyte by 39.2% in Q4, selling 16,658 shares and now holds 25,796 shares valued at about $2.55 million.
• Insider sale: Pablo J. Cagnoni sold 18,667 shares at an average of $96.50 (~$1.8M), while other institutions made large moves—most notably Nordea, which increased its position by 941.8% to 322,223 shares—leaving roughly 97% of the stock owned by institutional investors.
• Analysts are mixed with a MarketBeat consensus of "Hold" and an average price target of $104.89; Incyte recently missed EPS ($1.80 vs. $1.96) but reported revenue up 27.8% and trades near the mid‑$90s with a market cap around $19 billion.

Teacher Retirement System of Texas decreased its stake in shares of Incyte Corporation (NASDAQ:INCY - Free Report) by 39.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,796 shares of the biopharmaceutical company's stock after selling 16,658 shares during the quarter. Teacher Retirement System of Texas' holdings in Incyte were worth $2,548,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. AustralianSuper Pty Ltd purchased a new stake in shares of Incyte during the 3rd quarter worth $18,085,000. Rakuten Investment Management Inc. purchased a new position in Incyte in the third quarter valued at approximately $14,646,000. LBP AM SA boosted its holdings in shares of Incyte by 33.6% in the 3rd quarter. LBP AM SA now owns 238,705 shares of the biopharmaceutical company's stock valued at $20,245,000 after buying an additional 59,974 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Incyte by 38.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 387,605 shares of the biopharmaceutical company's stock worth $32,873,000 after acquiring an additional 108,645 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Incyte by 941.8% during the fourth quarter. Nordea Investment Management AB now owns 322,223 shares of the biopharmaceutical company's stock worth $31,874,000 after purchasing an additional 291,293 shares during the last quarter. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group downgraded Incyte from a "buy" rating to a "hold" rating and decreased their price objective for the company from $120.00 to $94.00 in a report on Monday, March 16th. Weiss Ratings raised Incyte from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, April 1st. Wall Street Zen lowered shares of Incyte from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 14th. Stifel Nicolaus lifted their price objective on Incyte from $119.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, February 11th. Finally, Barclays reissued an "overweight" rating on shares of Incyte in a report on Tuesday, March 24th. Ten research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $104.89.

Insider Activity

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 sale, the insider directly owned 262,692 shares in the company, valued at $25,349,778. The trade was a 6.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.80% of the stock is owned by company insiders.

Incyte Stock Performance

INCY opened at $95.71 on Tuesday. Incyte Corporation has a 1-year low of $57.77 and a 1-year high of $112.29. The stock has a market cap of $19.05 billion, a P/E ratio of 14.93, a P/E/G ratio of 0.75 and a beta of 0.85. The stock's 50 day simple moving average is $95.99 and its 200 day simple moving average is $98.66. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.32 and a quick ratio of 3.25.

Incyte (NASDAQ:INCY - Get Free Report) last issued its quarterly earnings data on Tuesday, February 10th. The biopharmaceutical company reported $1.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.96 by ($0.16). The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.35 billion. Incyte had a return on equity of 26.34% and a net margin of 25.03%.The business's revenue for the quarter was up 27.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.43 earnings per share. As a group, equities analysts anticipate that Incyte Corporation will post 6.52 EPS for the current fiscal year.

Incyte Company 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.

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