Teacher Retirement System of Texas decreased its holdings in Incyte Co. (NASDAQ:INCY) by 24.5% in the fourth quarter, Holdings Channel reports. The fund owned 79,077 shares of the biopharmaceutical company’s stock after selling 25,699 shares during the period. Teacher Retirement System of Texas’ holdings in Incyte were worth $7,489,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. Capital International Investors raised its holdings in Incyte by 1.4% in the 3rd quarter. Capital International Investors now owns 6,494,566 shares of the biopharmaceutical company’s stock valued at $758,176,000 after acquiring an additional 87,369 shares during the last quarter. Jennison Associates LLC raised its holdings in Incyte by 24.3% in the 3rd quarter. Jennison Associates LLC now owns 1,633,173 shares of the biopharmaceutical company’s stock valued at $190,657,000 after acquiring an additional 319,191 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in Incyte in the 3rd quarter valued at about $125,065,000. Pictet Asset Management Ltd. raised its holdings in Incyte by 27.4% in the 3rd quarter. Pictet Asset Management Ltd. now owns 1,055,743 shares of the biopharmaceutical company’s stock valued at $123,247,000 after acquiring an additional 227,088 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. raised its holdings in Incyte by 374.4% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 930,319 shares of the biopharmaceutical company’s stock valued at $108,605,000 after acquiring an additional 734,235 shares during the last quarter. Institutional investors own 90.02% of the company’s stock.

Incyte Co. (NASDAQ:INCY) opened at $88.17 on Thursday. The company has a current ratio of 4.82, a quick ratio of 4.81 and a debt-to-equity ratio of 0.01. Incyte Co. has a 1 year low of $80.85 and a 1 year high of $153.15.

INCY has been the subject of a number of recent research reports. BMO Capital Markets cut their price objective on shares of Incyte from $163.00 to $162.00 and set an “outperform” rating for the company in a report on Thursday, October 26th. Royal Bank of Canada cut their price objective on shares of Incyte from $136.00 to $120.00 and set a “sector perform” rating for the company in a report on Tuesday, November 21st. Nomura reiterated a “buy” rating on shares of Incyte in a report on Thursday, February 1st. Oppenheimer set a $135.00 price objective on shares of Incyte and gave the company a “hold” rating in a report on Tuesday, October 31st. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Incyte in a report on Tuesday, October 31st. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $143.25.

In related news, EVP Vijay K. Iyengar sold 5,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $97.26, for a total transaction of $486,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David W. Gryska sold 6,760 shares of the stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $98.87, for a total transaction of $668,361.20. Following the transaction, the insider now directly owns 20,752 shares of the company’s stock, valued at approximately $2,051,750.24. The disclosure for this sale can be found here. Insiders have sold a total of 12,456 shares of company stock valued at $1,222,876 in the last ninety days. 17.70% of the stock is currently owned by corporate insiders.

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About Incyte

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).

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Institutional Ownership by Quarter for Incyte (NASDAQ:INCY)

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