Incyte Corporation $INCY Shares Bought by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund increased its stake in Incyte Corporation (NASDAQ:INCY) by 40.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 297,504 shares of the biopharmaceutical company’s stock after acquiring an additional 84,985 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.15% of Incyte worth $28,001,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Elyxium Wealth LLC acquired a new position in shares of Incyte during the 4th quarter valued at $28,000. Smithfield Trust Co lifted its holdings in shares of Incyte by 135.0% in the fourth quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 162 shares during the period. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of Incyte in the fourth quarter valued at $35,000. Atlas Capital Advisors Inc. bought a new position in Incyte during the fourth quarter valued at about $35,000. Finally, Leonteq Securities AG bought a new position in Incyte during the fourth quarter valued at about $35,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Incyte Stock Performance

Shares of INCY opened at $117.67 on Monday. The business’s 50-day moving average price is $106.82 and its 200 day moving average price is $101.63. The company has a current ratio of 3.68, a quick ratio of 3.60 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $23.51 billion, a P/E ratio of 16.62, a P/E/G ratio of 1.06 and a beta of 0.76. Incyte Corporation has a 1-year low of $69.69 and a 1-year high of $119.60.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.43. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the firm earned $1.16 earnings per share. The business’s quarterly revenue was up 20.9% on a year-over-year basis. Analysts expect that Incyte Corporation will post 6.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

INCY has been the topic of several research reports. TD Cowen reiterated a “hold” rating on shares of Incyte in a research report on Tuesday, June 9th. Royal Bank Of Canada raised their price objective on shares of Incyte from $95.00 to $99.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 7th. Truist Financial lifted their price objective on shares of Incyte from $103.00 to $105.00 and gave the stock a “hold” rating in a research note on Monday, June 22nd. Barclays boosted their target price on shares of Incyte from $117.00 to $134.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Finally, BMO Capital Markets increased their target price on shares of Incyte from $94.00 to $112.00 and gave the company a “market perform” rating in a research note on Monday, July 13th. Eight investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat, Incyte has a consensus rating of “Hold” and an average price target of $111.10.

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.