Partners Capital Investment Group LLP Makes New Investment in Incyte Corporation $INCY

Partners Capital Investment Group LLP bought a new stake in Incyte Corporation (NASDAQ:INCY) during the second quarter, HoldingsChannel.com reports. The firm bought 13,963 shares of the biopharmaceutical company’s stock, valued at approximately $1,583,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. OMERS ADMINISTRATION Corp acquired a new position in shares of Incyte during the 2nd quarter worth $5,122,000. Osmosis Investment Management UK Ltd bought a new stake in shares of Incyte during the 2nd quarter worth $2,108,000. Sanctuary Advisors LLC acquired a new stake in Incyte in the second quarter valued at about $1,783,000. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in Incyte in the second quarter valued at about $578,000. Finally, Forefront Analytics LLC acquired a new stake in Incyte in the second quarter valued at about $577,000. Institutional investors own 96.97% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Morgan Stanley set a $119.00 target price on Incyte in a research note on Wednesday, July 29th. Sanford C. Bernstein restated a “market perform” rating and issued a $104.00 price target on shares of Incyte in a research note on Thursday, August 13th. Royal Bank Of Canada lifted their price target on shares of Incyte from $99.00 to $109.00 and gave the company a “sector perform” rating in a report on Wednesday, July 29th. Canaccord Genuity Group began coverage on shares of Incyte in a report on Thursday, August 20th. They set a “buy” rating and a $152.00 price target on the stock. Finally, BMO Capital Markets upped their price objective on shares of Incyte from $112.00 to $130.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 29th. Twelve analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $123.10.

Incyte Stock Up 0.1%

Shares of INCY stock opened at $127.98 on Tuesday. Incyte Corporation has a twelve month low of $81.09 and a twelve month high of $132.60. The stock’s fifty day simple moving average is $116.69 and its 200 day simple moving average is $104.37. The firm has a market capitalization of $25.94 billion, a P/E ratio of 16.30, a P/E/G ratio of 4.05 and a beta of 0.76.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, July 28th. The biopharmaceutical company reported $3.09 EPS for the quarter, beating the consensus estimate of $2.15 by $0.94. Incyte had a return on equity of 29.93% and a net margin of 27.71%.The firm 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 company earned $1.57 earnings per share. The business’s quarterly revenue was up 37.7% on a year-over-year basis. As a group, equities research analysts expect that Incyte Corporation will post 2.61 EPS for the current fiscal year.

Insider Activity at Incyte

In related news, EVP Patrick A. Mayes sold 41,899 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $119.46, for a total value of $5,005,254.54. Following the completion of the transaction, the executive vice president owned 61,441 shares in the company, valued at $7,339,741.86. This trade represents a 40.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Pablo J. Cagnoni sold 10,801 shares of Incyte stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $125.56, for a total transaction of $1,356,173.56. Following the sale, the insider owned 183,200 shares in the company, valued at approximately $23,002,592. This represents a 5.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 16.20% of the company’s stock.

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.