OMERS ADMINISTRATION Corp Acquires 11,896 Shares of Incyte Corporation $INCY

OMERS ADMINISTRATION Corp lifted its holdings in Incyte Corporation (NASDAQ:INCY) by 40.8% in the 1st quarter, Holdings Channel reports. The firm owned 41,083 shares of the biopharmaceutical company’s stock after acquiring an additional 11,896 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Incyte were worth $3,867,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Geode Capital Management LLC increased its holdings in Incyte by 11.3% in the 4th quarter. Geode Capital Management LLC now owns 4,993,012 shares of the biopharmaceutical company’s stock worth $491,500,000 after buying an additional 506,842 shares in the last quarter. Invesco Ltd. raised its position in Incyte by 13.2% in the 4th quarter. Invesco Ltd. now owns 3,473,781 shares of the biopharmaceutical company’s stock worth $343,105,000 after buying an additional 405,611 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Incyte by 13.7% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,103,946 shares of the biopharmaceutical company’s stock valued at $263,246,000 after acquiring an additional 373,298 shares during the period. Morgan Stanley lifted its stake in Incyte by 0.9% during the 4th quarter. Morgan Stanley now owns 2,663,823 shares of the biopharmaceutical company’s stock valued at $263,106,000 after acquiring an additional 23,087 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of Incyte by 7.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,480,793 shares of the biopharmaceutical company’s stock valued at $245,028,000 after acquiring an additional 161,405 shares during the last quarter. 96.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on INCY. JPMorgan Chase & Co. lifted their price target on shares of Incyte from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Thursday, July 23rd. BMO Capital Markets raised their target price on shares of Incyte from $94.00 to $112.00 and gave the stock a “market perform” rating in a report on Monday, July 13th. Morgan Stanley lifted their target price on shares of Incyte from $103.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Thursday. Royal Bank Of Canada boosted their target price on shares of Incyte from $95.00 to $99.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 7th. Finally, Sanford C. Bernstein began coverage on Incyte in a report on Thursday, May 21st. They set a “market perform” rating and a $99.00 price target on the stock. Eight investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $111.10.

Incyte Price Performance

NASDAQ INCY opened at $118.87 on Tuesday. The company has a market capitalization of $23.75 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 1.06 and a beta of 0.76. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.60 and a current ratio of 3.68. The business’s fifty day moving average is $107.30 and its 200 day moving average is $101.72. Incyte Corporation has a fifty-two week low of $69.69 and a fifty-two week high of $120.71.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.43. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the prior year, the business posted $1.16 earnings per share. The business’s quarterly revenue was up 20.9% on a year-over-year basis. Sell-side analysts predict that Incyte Corporation will post 6.63 earnings per share for the current year.

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.