Nan Fung Group Holdings Ltd Takes Position in Incyte Corporation $INCY

Nan Fung Group Holdings Ltd bought a new position in shares of Incyte Corporation (NASDAQ:INCY) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 53,742 shares of the biopharmaceutical company’s stock, valued at approximately $6,092,193,000. Incyte accounts for 4.6% of Nan Fung Group Holdings Ltd’s holdings, making the stock its 5th biggest position.

Several other institutional investors have also added to or reduced their stakes in the company. Jacobi Capital Management LLC grew its holdings in Incyte by 0.9% in the 4th quarter. Jacobi Capital Management LLC now owns 10,613 shares of the biopharmaceutical company’s stock valued at $1,048,000 after buying an additional 99 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Incyte by 0.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 18,870 shares of the biopharmaceutical company’s stock worth $1,864,000 after buying an additional 100 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Incyte by 7.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,628 shares of the biopharmaceutical company’s stock worth $161,000 after buying an additional 113 shares in the last quarter. Bank of Nova Scotia boosted its position in shares of Incyte by 0.7% in the second quarter. Bank of Nova Scotia now owns 17,041 shares of the biopharmaceutical company’s stock valued at $1,160,000 after acquiring an additional 124 shares during the period. Finally, Perbak Capital Partners LLP boosted its position in shares of Incyte by 2.5% in the third quarter. Perbak Capital Partners LLP now owns 5,298 shares of the biopharmaceutical company’s stock valued at $449,000 after acquiring an additional 129 shares during the period. 96.97% of the stock is currently owned by institutional investors.

Incyte Stock Up 0.1%

INCY stock 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 firm has a market cap 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. The company’s 50-day moving average price is $116.69 and its two-hundred day moving average price is $104.37.

Incyte (NASDAQ:INCY) last issued 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 net margin of 27.71% and a return on equity of 29.93%. The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the company earned $1.57 EPS. The business’s revenue for the quarter was up 37.7% compared to the same quarter last year. Equities analysts predict that Incyte Corporation will post 2.61 EPS for the current year.

Insider Buying and Selling

In other Incyte news, EVP Patrick A. Mayes sold 41,899 shares of the company’s stock in a transaction on Friday, July 31st. The stock was 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 in the company, valued at $7,339,741.86. This represents a 40.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Pablo J. Cagnoni sold 10,801 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were 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 approximately $23,002,592. This represents a 5.57% 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. Company insiders own 16.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on INCY. Weiss Ratings raised shares of Incyte from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 29th. Mizuho increased their target price on shares of Incyte from $121.00 to $137.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 4th. Barclays raised their target price on shares of Incyte from $134.00 to $139.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Citigroup reiterated a “buy” rating on shares of Incyte in a research note on Monday, August 3rd. Finally, Benchmark reissued a “buy” rating on shares of Incyte in a research report on Thursday. Twelve investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to data from MarketBeat, Incyte has a consensus rating of “Hold” and a consensus price target of $123.10.

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.