Incyte Corporation $INCY Shares Purchased by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board raised its position in shares of Incyte Corporation (NASDAQ:INCY) by 5.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 72,671 shares of the biopharmaceutical company’s stock after acquiring an additional 3,756 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Incyte were worth $4,949,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of INCY. Banque Transatlantique SA purchased a new stake in shares of Incyte during the 1st quarter worth about $26,000. FNY Investment Advisers LLC purchased a new stake in Incyte during the second quarter worth approximately $27,000. Hilltop National Bank purchased a new stake in Incyte during the second quarter worth approximately $37,000. SVB Wealth LLC acquired a new stake in shares of Incyte in the first quarter worth $39,000. Finally, Geneos Wealth Management Inc. raised its stake in shares of Incyte by 350.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 756 shares of the biopharmaceutical company’s stock valued at $46,000 after acquiring an additional 588 shares during the period. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on INCY shares. Citigroup upped their price target on shares of Incyte from $88.00 to $103.00 and gave the stock a “buy” rating in a research report on Wednesday, July 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Incyte in a research report on Wednesday, October 8th. Oppenheimer lowered Incyte from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 8th. Barclays boosted their price target on Incyte from $90.00 to $101.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Finally, Piper Sandler increased their price objective on shares of Incyte from $82.00 to $102.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. Seven investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Incyte currently has a consensus rating of “Hold” and an average target price of $92.77.

Incyte Price Performance

INCY stock opened at $104.15 on Friday. The stock’s 50 day moving average is $90.34 and its two-hundred day moving average is $78.13. Incyte Corporation has a 52-week low of $53.56 and a 52-week high of $109.28. The company has a market capitalization of $20.45 billion, a PE ratio of 17.45, a P/E/G ratio of 0.70 and a beta of 0.74. The company has a quick ratio of 2.78, a current ratio of 3.20 and a debt-to-equity ratio of 0.01.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Tuesday, October 28th. The biopharmaceutical company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.61. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.26 billion. Incyte had a net margin of 24.69% and a return on equity of 26.56%. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.07 earnings per share. Analysts predict that Incyte Corporation will post 4.86 earnings per share for the current fiscal year.

Insider Buying and Selling at Incyte

In related news, EVP Lee Heeson sold 3,074 shares of Incyte stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $94.02, for a total value of $289,017.48. Following the completion of the transaction, the executive vice president directly owned 29,241 shares in the company, valued at approximately $2,749,238.82. This trade represents a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Sheila A. Denton sold 598 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $101.36, for a total value of $60,613.28. Following the completion of the sale, the executive vice president directly owned 26,569 shares of the company’s stock, valued at approximately $2,693,033.84. This represents a 2.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 4,227 shares of company stock valued at $396,327. 17.80% of the stock is owned by company insiders.

Incyte Profile

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.