Teacher Retirement System of Texas Acquires 11,024 Shares of Incyte Co. (NASDAQ:INCY)

Teacher Retirement System of Texas grew its position in shares of Incyte Co. (NASDAQ:INCY) by 12.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 102,449 shares of the biopharmaceutical company’s stock after buying an additional 11,024 shares during the quarter. Teacher Retirement System of Texas’ holdings in Incyte were worth $8,326,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. JGP Global Gestao de Recursos Ltda. purchased a new stake in shares of Incyte during the first quarter valued at approximately $1,141,000. Cutter & CO Brokerage Inc. purchased a new stake in shares of Incyte during the first quarter valued at approximately $719,000. Banque Cantonale Vaudoise grew its holdings in shares of Incyte by 17.8% during the first quarter. Banque Cantonale Vaudoise now owns 8,483 shares of the biopharmaceutical company’s stock valued at $689,000 after buying an additional 1,281 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Incyte by 12.4% during the first quarter. Russell Investments Group Ltd. now owns 211,136 shares of the biopharmaceutical company’s stock valued at $17,155,000 after buying an additional 23,295 shares during the last quarter. Finally, Xponance Inc. grew its holdings in shares of Incyte by 0.7% during the first quarter. Xponance Inc. now owns 27,222 shares of the biopharmaceutical company’s stock valued at $2,212,000 after buying an additional 192 shares during the last quarter. Hedge funds and other institutional investors own 91.12% of the company’s stock.

INCY opened at $87.53 on Friday. The company has a quick ratio of 3.90, a current ratio of 3.93 and a debt-to-equity ratio of 0.01. Incyte Co. has a 1-year low of $75.52 and a 1-year high of $110.36. The company has a market capitalization of $19.25 billion, a P/E ratio of 40.34, a PEG ratio of 1.08 and a beta of 0.81. The stock has a 50 day simple moving average of $83.15.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, May 4th. The biopharmaceutical company reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.25. Incyte had a net margin of 17.70% and a return on equity of 20.10%. The business had revenue of $604.72 million for the quarter, compared to the consensus estimate of $657.73 million. During the same period last year, the firm earned ($2.86) earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, research analysts expect that Incyte Co. will post 2.2 earnings per share for the current year.

In related news, EVP Dashyant Dhanak sold 396 shares of the stock in a transaction dated Thursday, April 1st. The stock was sold at an average price of $81.57, for a total transaction of $32,301.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael James Morrissey sold 20,000 shares of the stock in a transaction dated Monday, March 29th. The stock was sold at an average price of $81.08, for a total value of $1,621,600.00. The disclosure for this sale can be found here. Corporate insiders own 15.80% of the company’s stock.

Several brokerages recently issued reports on INCY. TheStreet cut shares of Incyte from a “b-” rating to a “c” rating in a report on Monday, March 15th. Morgan Stanley dropped their target price on shares of Incyte from $86.00 to $85.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. Incyte presently has an average rating of “Hold” and a consensus target price of $97.00.

Incyte Company Profile

Incyte Corporation, a biopharmaceutical company, focuses on the discovery, development, and commercialization of proprietary therapeutics in the United States and internationally. The company offers JAKAFI, a drug for the treatment of myelofibrosis and polycythemia vera cancers; PEMAZYRE, a fibroblast growth factor receptor kinase inhibitor for the treatment of adults; and ICLUSIG, a kinase inhibitor to treat chronic myeloid leukemia and philadelphia-chromosome positive acute lymphoblastic leukemia.

Further Reading: Depreciation

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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