Healthcare of Ontario Pension Plan Trust Fund Has $28 Million Stock Holdings in Incyte Corporation $INCY

Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Incyte Corporation (NASDAQ:INCY) by 40.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 297,504 shares of the biopharmaceutical company’s stock after purchasing an additional 84,985 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Incyte were worth $28,001,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. NewEdge Advisors LLC boosted its position in Incyte by 369.3% during the 1st quarter. NewEdge Advisors LLC now owns 12,597 shares of the biopharmaceutical company’s stock worth $763,000 after acquiring an additional 9,913 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of Incyte by 15.1% in the 1st quarter. Jones Financial Companies Lllp now owns 4,944 shares of the biopharmaceutical company’s stock valued at $299,000 after purchasing an additional 648 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Incyte by 6.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 814,559 shares of the biopharmaceutical company’s stock valued at $49,322,000 after purchasing an additional 48,751 shares during the period. United Services Automobile Association acquired a new position in shares of Incyte in the 1st quarter valued at about $219,000. Finally, Focus Partners Wealth lifted 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 worth $1,273,000 after purchasing an additional 8,951 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Incyte Price Performance

Shares of Incyte stock opened at $117.67 on Monday. The firm has a market cap of $23.51 billion, a price-to-earnings ratio of 16.62, a P/E/G ratio of 1.06 and a beta of 0.76. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.68 and a quick ratio of 3.60. Incyte Corporation has a 52-week low of $69.69 and a 52-week high of $119.60. The stock has a 50-day simple moving average of $106.82 and a 200-day simple moving average of $101.63.

Incyte (NASDAQ:INCY) last released its quarterly earnings data 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 firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the company posted $1.16 earnings per share. The firm’s revenue was up 20.9% on a year-over-year basis. On average, equities research analysts expect that Incyte Corporation will post 6.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

INCY has been the subject of several research reports. Truist Financial raised their price target on shares of Incyte from $103.00 to $105.00 and gave the stock a “hold” rating in a report on Monday, June 22nd. Sanford C. Bernstein assumed coverage on shares of Incyte in a research note on Thursday, May 21st. They issued a “market perform” rating and a $99.00 price objective on the stock. Oppenheimer reiterated a “market perform” rating and issued a $107.00 target price on shares of Incyte in a research report on Monday, June 8th. Weiss Ratings reissued a “buy (b-)” rating on shares of Incyte in a research note on Monday, June 29th. Finally, Barclays boosted their price target on shares of Incyte from $117.00 to $134.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Eight analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $111.10.

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.