Partners Capital Investment Group LLP Makes New $1.58 Million Investment in Incyte Corporation $INCY

Partners Capital Investment Group LLP acquired a new position in shares of Incyte Corporation (NASDAQ:INCY) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 13,963 shares of the biopharmaceutical company’s stock, valued at approximately $1,583,000.

Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Incyte during the second quarter worth approximately $2,044,189,000. Geode Capital Management LLC lifted its holdings in Incyte by 11.3% during the 4th quarter. Geode Capital Management LLC now owns 4,993,012 shares of the biopharmaceutical company’s stock worth $491,500,000 after purchasing an additional 506,842 shares during the last quarter. Invesco Ltd. boosted its stake in Incyte by 13.2% in the 4th quarter. Invesco Ltd. now owns 3,473,781 shares of the biopharmaceutical company’s stock valued at $343,105,000 after purchasing an additional 405,611 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Incyte by 13.7% in 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 purchasing an additional 373,298 shares during the period. Finally, Morgan Stanley grew its holdings in Incyte by 0.9% in the 4th quarter. Morgan Stanley now owns 2,663,823 shares of the biopharmaceutical company’s stock valued at $263,106,000 after buying an additional 23,087 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.

Incyte Price Performance

Shares of NASDAQ INCY opened at $127.98 on Tuesday. The stock has a market capitalization of $25.94 billion, a PE ratio of 16.30, a P/E/G ratio of 4.05 and a beta of 0.76. The business has a fifty day moving average price of $116.69 and a two-hundred day moving average price of $104.37. Incyte Corporation has a fifty-two week low of $81.09 and a fifty-two week high of $132.60.

Incyte (NASDAQ:INCY) last released its earnings results on Tuesday, July 28th. The biopharmaceutical company reported $3.09 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.94. The firm had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.50 billion. Incyte had a return on equity of 29.93% and a net margin of 27.71%.The company’s revenue was up 37.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.57 EPS. On average, equities analysts expect that Incyte Corporation will post 2.61 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on INCY. Leerink Partners increased their price objective on Incyte from $131.00 to $155.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Wall Street Zen cut shares of Incyte from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. UBS Group upped their price target on shares of Incyte from $103.00 to $113.00 and gave the company a “neutral” rating in a research note on Friday, June 26th. Weiss Ratings raised shares of Incyte from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 29th. Finally, BMO Capital Markets lifted their price objective on shares of Incyte from $112.00 to $130.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 29th. Twelve equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $123.10.

Insider Transactions at Incyte

In other Incyte news, insider Pablo J. Cagnoni sold 10,801 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $125.56, for a total transaction of $1,356,173.56. Following the sale, the insider directly owned 183,200 shares in the company, valued at $23,002,592. This represents a 5.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Patrick A. Mayes sold 41,899 shares of the firm’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $119.46, for a total transaction of $5,005,254.54. Following the completion of the transaction, the executive vice president directly owned 61,441 shares in the company, valued at approximately $7,339,741.86. This represents a 40.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.20% of the stock is owned by insiders.

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.