Osmosis Investment Management UK Ltd Buys New Shares in Incyte Corporation $INCY

Osmosis Investment Management UK Ltd acquired a new stake in shares of Incyte Corporation (NASDAQ:INCY) during the second quarter, HoldingsChannel reports. The firm acquired 18,596 shares of the biopharmaceutical company’s stock, valued at approximately $2,108,000.

Other institutional investors have also made changes to their positions in the company. Elyxium Wealth LLC acquired a new stake in shares of Incyte during the fourth quarter worth approximately $28,000. Smithfield Trust Co grew its holdings in shares of Incyte by 135.0% during the fourth quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 162 shares during the last quarter. MUFG Securities EMEA plc bought a new position in shares of Incyte in the second quarter valued at about $32,000. CYBER HORNET ETFs LLC bought a new stake in Incyte during the 2nd quarter worth about $33,000. Finally, Leonteq Securities AG bought a new position in shares of Incyte in the fourth quarter worth about $35,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Incyte Trading Up 0.1%

NASDAQ INCY opened at $127.98 on Tuesday. Incyte Corporation has a 12 month low of $81.09 and a 12 month high of $132.60. The stock has a 50 day moving average of $116.69 and a 200-day moving average of $104.37. The company has a market cap of $25.94 billion, a PE ratio of 16.30, a PEG ratio of 4.05 and a beta of 0.76.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, July 28th. The biopharmaceutical company reported $3.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.94. Incyte had a net margin of 27.71% and a return on equity of 29.93%. The business had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period last year, the business posted $1.57 EPS. Incyte’s revenue was up 37.7% on a year-over-year basis. As a group, sell-side analysts predict that Incyte Corporation will post 2.61 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Pablo J. Cagnoni sold 10,801 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $125.56, for a total value of $1,356,173.56. Following the completion of the sale, the insider directly owned 183,200 shares in the company, valued at $23,002,592. The trade was a 5.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Patrick A. Mayes sold 41,899 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $119.46, for a total transaction of $5,005,254.54. Following the completion of the sale, the executive vice president directly owned 61,441 shares of the company’s stock, valued at approximately $7,339,741.86. The trade was a 40.54% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 16.20% of the company’s stock.

Analysts Set New Price Targets

INCY has been the topic of several research reports. TD Cowen reaffirmed a “hold” rating on shares of Incyte in a research note on Tuesday, June 9th. Benchmark reiterated a “buy” rating on shares of Incyte in a report on Thursday. Mizuho upped their price target on Incyte from $121.00 to $137.00 and gave the company an “outperform” rating in a research note on Tuesday, August 4th. UBS Group increased their target price on shares of Incyte from $103.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. Finally, BMO Capital Markets lifted their target price on Incyte from $112.00 to $130.00 and gave the stock a “market perform” rating in a report on Wednesday, July 29th. Twelve analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $123.10.

Incyte 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.