State of New Jersey Common Pension Fund D Has $12,591,000 Stake in Incyte Corporation (INCY)

State of New Jersey Common Pension Fund D continued to hold its stake in Incyte Corporation (NASDAQ:INCY) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 100,000 shares of the biopharmaceutical company’s stock at the end of the second quarter. State of New Jersey Common Pension Fund D’s holdings in Incyte Corporation were worth $12,591,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. State Street Corp increased its stake in Incyte Corporation by 110.7% in the first quarter. State Street Corp now owns 7,581,684 shares of the biopharmaceutical company’s stock worth $1,013,437,000 after buying an additional 3,983,207 shares during the last quarter. Vanguard Group Inc. increased its stake in Incyte Corporation by 22.7% in the first quarter. Vanguard Group Inc. now owns 15,415,857 shares of the biopharmaceutical company’s stock worth $2,060,638,000 after buying an additional 2,847,907 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in Incyte Corporation during the first quarter worth about $85,751,000. Geode Capital Management LLC increased its stake in Incyte Corporation by 42.0% in the first quarter. Geode Capital Management LLC now owns 1,780,064 shares of the biopharmaceutical company’s stock worth $237,618,000 after buying an additional 526,163 shares during the last quarter. Finally, Morgan Stanley increased its stake in Incyte Corporation by 117.6% in the first quarter. Morgan Stanley now owns 776,654 shares of the biopharmaceutical company’s stock worth $103,815,000 after buying an additional 419,732 shares during the last quarter. 91.54% of the stock is currently owned by institutional investors.

Incyte Corporation (INCY) traded down 0.45% during mid-day trading on Friday, hitting $121.19. 958,477 shares of the stock were exchanged. The company has a 50 day moving average of $129.70 and a 200 day moving average of $129.55. The firm’s market cap is $24.93 billion. Incyte Corporation has a 12-month low of $77.58 and a 12-month high of $153.15.

Incyte Corporation (NASDAQ:INCY) last announced its quarterly earnings data on Tuesday, August 1st. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.05) by $0.01. Incyte Corporation had a negative return on equity of 21.57% and a negative net margin of 11.77%. The company had revenue of $326.40 million for the quarter, compared to analyst estimates of $318.45 million. During the same period in the prior year, the firm posted $0.18 earnings per share. The business’s quarterly revenue was up 32.5% compared to the same quarter last year. On average, equities analysts anticipate that Incyte Corporation will post ($0.86) earnings per share for the current fiscal year.

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Several equities research analysts have recently weighed in on the stock. Morgan Stanley reissued an “overweight” rating and issued a $142.00 target price on shares of Incyte Corporation in a research note on Friday, May 19th. Jefferies Group LLC reissued a “buy” rating and issued a $148.00 target price on shares of Incyte Corporation in a research note on Thursday, May 18th. Zacks Investment Research raised shares of Incyte Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, May 23rd. Barclays PLC increased their target price on shares of Incyte Corporation from $135.00 to $185.00 and gave the company an “overweight” rating in a research note on Tuesday, July 4th. Finally, TheStreet downgraded shares of Incyte Corporation from a “c+” rating to a “d+” rating in a research note on Thursday, May 4th. Eight analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Incyte Corporation currently has an average rating of “Buy” and a consensus price target of $140.16.

In related news, insider Paul Trower sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $125.25, for a total value of $375,750.00. Following the completion of the transaction, the insider now directly owns 11,853 shares of the company’s stock, valued at $1,484,588.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David W. Gryska sold 16,756 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $116.60, for a total value of $1,953,749.60. Following the completion of the transaction, the chief financial officer now directly owns 35,771 shares of the company’s stock, valued at $4,170,898.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,183 shares of company stock valued at $5,976,946. Corporate insiders own 17.70% of the company’s stock.

Incyte Corporation Company Profile

Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).

Institutional Ownership by Quarter for Incyte Corporation (NASDAQ:INCY)

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