Osmosis Investment Management UK Ltd Invests $2.11 Million in Incyte Corporation $INCY

Osmosis Investment Management UK Ltd acquired a new stake in Incyte Corporation (NASDAQ:INCY) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 18,596 shares of the biopharmaceutical company’s stock, valued at approximately $2,108,000.

Several other large investors also recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Incyte during the 2nd quarter worth $2,044,189,000. Geode Capital Management LLC lifted its stake in shares of Incyte by 11.3% during the fourth 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 during the period. Invesco Ltd. lifted its holdings in shares of Incyte by 13.2% during the fourth quarter. Invesco Ltd. now owns 3,473,781 shares of the biopharmaceutical company’s stock worth $343,105,000 after purchasing an additional 405,611 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Incyte by 13.7% during the third quarter. Arrowstreet Capital Limited Partnership now owns 3,103,946 shares of the biopharmaceutical company’s stock worth $263,246,000 after purchasing an additional 373,298 shares during the last quarter. Finally, Morgan Stanley raised its position in Incyte by 0.9% during the fourth 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 in the last quarter. Institutional investors own 96.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. UBS Group boosted their price objective on Incyte from $103.00 to $113.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. BMO Capital Markets boosted their price objective on Incyte from $112.00 to $130.00 and gave the company a “market perform” rating in a report on Wednesday, July 29th. HC Wainwright reiterated a “buy” rating and issued a $150.00 price objective on shares of Incyte in a research note on Thursday, August 20th. Weiss Ratings raised Incyte from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. boosted their price objective on Incyte from $105.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, July 23rd. Twelve equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $123.10.

Insider Activity

In related news, insider Pablo J. Cagnoni sold 10,801 shares of the business’s 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 completion of the transaction, the insider owned 183,200 shares in the company, valued at $23,002,592. The trade was a 5.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Patrick A. Mayes sold 41,899 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was 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 directly owned 61,441 shares of the company’s stock, valued at $7,339,741.86. This trade represents a 40.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.20% of the stock is owned by corporate insiders.

Incyte Price Performance

NASDAQ INCY opened at $127.98 on Tuesday. Incyte Corporation has a 1-year low of $81.09 and a 1-year high of $132.60. The business’s 50-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 quarterly earnings data on Tuesday, July 28th. The biopharmaceutical company reported $3.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.94. The company had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.50 billion. Incyte had a net margin of 27.71% and a return on equity of 29.93%. The business’s quarterly revenue was up 37.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.57 earnings per share. On average, equities research analysts expect that Incyte Corporation will post 2.61 EPS for the current fiscal 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.