Healthcare of Ontario Pension Plan Trust Fund Has $20.99 Million Stock Holdings in Incyte Corporation $INCY

Healthcare of Ontario Pension Plan Trust Fund boosted its position in Incyte Corporation (NASDAQ:INCY) by 3,172.5% during the fourth quarter, according to the company in its most recent 13F filing with the 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 owned approximately 0.11% of Incyte worth $20,991,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Kennedy Capital Management LLC raised its position in Incyte by 1.5% in the 4th quarter. Kennedy Capital Management LLC now owns 33,440 shares of the biopharmaceutical company’s stock valued at $3,303,000 after buying an additional 489 shares during the last quarter. Ariadne Wealth Management LP raised its position in Incyte by 5.5% in the 4th quarter. Ariadne Wealth Management LP now owns 4,020 shares of the biopharmaceutical company’s stock valued at $405,000 after buying an additional 208 shares during the last quarter. Baldwin Investment Management LLC acquired a new stake in Incyte in the 4th quarter valued at approximately $211,000. Atlas Capital Advisors Inc. acquired a new stake in Incyte in the 4th quarter valued at approximately $35,000. Finally, Aptus Capital Advisors LLC raised its position in Incyte by 18.8% in the 4th quarter. Aptus Capital Advisors LLC now owns 2,877 shares of the biopharmaceutical company’s stock valued at $284,000 after buying an additional 455 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Price Performance

Shares of INCY opened at $101.98 on Tuesday. Incyte Corporation has a 12-month low of $66.74 and a 12-month high of $112.29. The business has a 50-day simple moving average of $97.90 and a two-hundred day simple moving average of $99.10. The company has a quick ratio of 3.60, a current ratio of 3.68 and a debt-to-equity ratio of 0.01. The stock has a market cap of $20.37 billion, a PE ratio of 14.40, a PEG ratio of 1.06 and a beta of 0.79.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 EPS for the quarter, topping the consensus estimate 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 last year, the firm posted $1.16 earnings per share. The firm’s revenue was up 20.9% on a year-over-year basis. Analysts anticipate that Incyte Corporation will post 6.64 earnings per share for the current fiscal year.

Insider Activity at Incyte

In related news, insider Pablo J. Cagnoni sold 18,667 shares of the stock in a transaction that occurred 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 directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 16.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Oppenheimer reaffirmed a “market perform” rating and issued a $107.00 price objective on shares of Incyte in a report on Monday, June 8th. UBS Group decreased their price objective on Incyte from $104.00 to $94.00 and set a “neutral” rating on the stock in a report on Wednesday, March 25th. Stifel Nicolaus set a $123.00 price objective on Incyte in a report on Tuesday, June 9th. Sanford C. Bernstein assumed coverage on Incyte in a report on Thursday, May 21st. They issued a “market perform” rating and a $99.00 price objective on the stock. Finally, Jefferies Financial Group lowered Incyte from a “buy” rating to a “hold” rating and decreased their price objective for the company from $120.00 to $94.00 in a report on Monday, March 16th. Eight analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average 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.