Healthcare of Ontario Pension Plan Trust Fund Grows Stock Position in Incyte Corporation $INCY

Healthcare of Ontario Pension Plan Trust Fund boosted its position in Incyte Corporation (NASDAQ:INCY) by 3,172.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 212,519 shares of the biopharmaceutical company’s stock after buying an additional 206,025 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Incyte were worth $20,991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of INCY. NewEdge Advisors LLC increased its position in Incyte by 369.3% in the first quarter. NewEdge Advisors LLC now owns 12,597 shares of the biopharmaceutical company’s stock worth $763,000 after buying an additional 9,913 shares during the last quarter. Jones Financial Companies Lllp increased its position in Incyte by 15.1% in the first quarter. Jones Financial Companies Lllp now owns 4,944 shares of the biopharmaceutical company’s stock worth $299,000 after buying an additional 648 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Incyte by 6.4% in the first quarter. Goldman Sachs Group Inc. now owns 814,559 shares of the biopharmaceutical company’s stock worth $49,322,000 after buying an additional 48,751 shares during the last quarter. United Services Automobile Association purchased a new position in shares of Incyte in the first quarter valued at $219,000. Finally, Focus Partners Wealth grew its position in shares of Incyte by 74.1% in the first quarter. Focus Partners Wealth now owns 21,024 shares of the biopharmaceutical company’s stock valued at $1,273,000 after purchasing an additional 8,951 shares in the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Price Performance

NASDAQ:INCY opened at $101.98 on Tuesday. The firm has a market capitalization of $20.37 billion, a price-to-earnings ratio of 14.40, a P/E/G ratio of 1.06 and a beta of 0.79. Incyte Corporation has a 52-week low of $66.74 and a 52-week high of $112.29. The stock has a fifty day moving average of $97.90 and a 200 day moving average of $99.10. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.60 and a current ratio of 3.68.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.43. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.22 billion. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The firm’s quarterly revenue was up 20.9% on a year-over-year basis. During the same quarter last year, the company earned $1.16 earnings per share. On average, research analysts expect that Incyte Corporation will post 6.64 EPS for the current fiscal year.

Insider Transactions at Incyte

In related news, insider Pablo J. Cagnoni sold 18,667 shares of Incyte stock in a transaction on Friday, April 17th. The stock was sold at an average price of $96.50, for a total transaction of $1,801,365.50. Following the completion of the sale, the insider owned 262,692 shares of the company’s stock, valued at approximately $25,349,778. This trade represents a 6.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 16.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Jefferies Financial Group cut Incyte from a “buy” rating to a “hold” rating and reduced their price target for the company from $120.00 to $94.00 in a research report on Monday, March 16th. BMO Capital Markets reiterated an “underperform” rating on shares of Incyte in a research report on Monday. Oppenheimer reiterated a “market perform” rating and issued a $107.00 price target on shares of Incyte in a research report on Monday, June 8th. TD Cowen reiterated a “hold” rating on shares of Incyte in a research report on Tuesday, June 9th. Finally, Sanford C. Bernstein assumed coverage on Incyte in a research report on Thursday, May 21st. They issued a “market perform” rating and a $99.00 price target for the company. Eight analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Incyte currently has a consensus rating of “Hold” and a consensus price target of $105.10.

About Incyte

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.