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

Key Points

• OMERS Administration Corp increased its Incyte stake by 40.8% in the first quarter, purchasing 11,896 additional shares and bringing its holdings to 41,083 shares valued at approximately $3.87 million.
• Institutional investors own 96.97% of Incyte’s outstanding shares, while analysts maintain a consensus “Hold” rating with an average price target of $111.10.
• Incyte reported quarterly EPS of $1.81, beating estimates of $1.38, while revenue rose 20.9% year over year to $1.27 billion. Shares opened at $118.87, near the company’s 52-week high of $120.71.

OMERS ADMINISTRATION Corp lifted its stake in shares of Incyte Corporation (NASDAQ:INCY - Free Report) by 40.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,083 shares of the biopharmaceutical company's stock after buying an additional 11,896 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Incyte were worth $3,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of INCY. Elyxium Wealth LLC purchased a new position in shares of Incyte during the 4th quarter worth approximately $28,000. Smithfield Trust Co lifted its stake in shares of Incyte by 135.0% in the 4th quarter. Smithfield Trust Co now owns 282 shares of the biopharmaceutical company's stock valued at $28,000 after purchasing an additional 162 shares during the period. MUFG Securities EMEA plc purchased a new position in shares of Incyte in the 2nd quarter valued at approximately $32,000. CYBER HORNET ETFs LLC bought a new stake in shares of Incyte during the second quarter valued at approximately $33,000. Finally, Leonteq Securities AG bought a new stake in shares of Incyte during the fourth quarter valued at approximately $35,000. 96.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Stifel Nicolaus set a $123.00 price objective on Incyte in a report on Tuesday, June 9th. JPMorgan Chase & Co. boosted their target price on shares of Incyte from $105.00 to $110.00 and gave the company a "neutral" rating in a report on Thursday, July 23rd. UBS Group upped their target price on shares of Incyte from $103.00 to $113.00 and gave the stock a "neutral" rating in a research report on Friday, June 26th. Oppenheimer reiterated a "market perform" rating and issued a $107.00 price target on shares of Incyte in a research note on Monday, June 8th. Finally, Royal Bank Of Canada lifted their price target on shares of Incyte from $95.00 to $99.00 and gave the company a "sector perform" rating in a research report on Tuesday, July 7th. Eight investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat, Incyte currently has a consensus rating of "Hold" and a consensus price target of $111.10.

Incyte Stock Performance

Shares of Incyte stock opened at $118.87 on Tuesday. The stock has a market cap of $23.75 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 1.06 and a beta of 0.76. The firm's 50-day moving average is $107.30 and its 200 day moving average is $101.72. Incyte Corporation has a 1 year low of $69.69 and a 1 year high of $120.71. 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 (NASDAQ:INCY - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.38 by $0.43. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.22 billion. Incyte had a net margin of 26.71% and a return on equity of 26.66%. Incyte's revenue was up 20.9% compared to the same quarter last year. During the same period last year, the business earned $1.16 EPS. Sell-side analysts anticipate that Incyte Corporation will post 6.63 EPS for the current fiscal year.

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.

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