Partners Capital Investment Group LLP Purchases New Position in Incyte Corporation $INCY

Key Points

• Partners Capital Investment Group LLP acquired 32,216 shares of Incyte Corporation, valued at approximately $1,951,000, in a new investment during the 1st quarter.
• Institutional investors collectively hold 96.97% of Incyte's stock, with several firms increasing their positions during the recent quarters.
• Incyte's stock received mixed analyst ratings, with a consensus rating of "Hold" and a target price of $81.20, highlighting a range of evaluations from different firms.

Partners Capital Investment Group LLP acquired a new stake in shares of Incyte Corporation (NASDAQ:INCY - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 32,216 shares of the biopharmaceutical company's stock, valued at approximately $1,951,000.

A number of other institutional investors have also recently added to or reduced their stakes in INCY. Raymond James Financial Inc. bought a new position in shares of Incyte during the 4th quarter valued at $3,623,000. Mariner LLC raised its holdings in Incyte by 19.5% during the fourth quarter. Mariner LLC now owns 12,213 shares of the biopharmaceutical company's stock valued at $843,000 after buying an additional 1,993 shares in the last quarter. GeoWealth Management LLC raised its holdings in Incyte by 360.9% during the fourth quarter. GeoWealth Management LLC now owns 3,982 shares of the biopharmaceutical company's stock valued at $275,000 after buying an additional 3,118 shares in the last quarter. Norinchukin Bank The lifted its position in shares of Incyte by 9.4% in the fourth quarter. Norinchukin Bank The now owns 7,222 shares of the biopharmaceutical company's stock worth $499,000 after buying an additional 620 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its stake in shares of Incyte by 1.8% during the 4th quarter. MetLife Investment Management LLC now owns 42,718 shares of the biopharmaceutical company's stock worth $2,951,000 after acquiring an additional 745 shares in the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

Incyte Trading Up 0.9%

Shares of Incyte stock opened at $86.20 on Thursday. Incyte Corporation has a 1 year low of $53.56 and a 1 year high of $87.24. The company's fifty day simple moving average is $72.87 and its 200-day simple moving average is $67.53. The company has a market cap of $16.83 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 0.68 and a beta of 0.71. The company has a current ratio of 2.85, a quick ratio of 2.78 and a debt-to-equity ratio of 0.01.

Insider Activity at Incyte

In other news, EVP Barry P. Flannelly sold 1,192 shares of the business's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $69.86, for a total transaction of $83,273.12. Following the transaction, the executive vice president owned 37,630 shares in the company, valued at approximately $2,628,831.80. The trade was a 3.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Sheila A. Denton sold 599 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $68.61, for a total transaction of $41,097.39. Following the transaction, the executive vice president directly owned 26,504 shares of the company's stock, valued at $1,818,439.44. This represents a 2.21% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,098 shares of company stock valued at $3,836,196. Company insiders own 17.80% of the company's stock.

Analyst Upgrades and Downgrades

INCY has been the topic of a number of recent analyst reports. UBS Group reissued a "neutral" rating and issued a $68.00 price objective (up from $62.00) on shares of Incyte in a research note on Wednesday, July 30th. Barclays assumed coverage on Incyte in a report on Friday, August 1st. They set an "overweight" rating and a $90.00 price target on the stock. Stifel Nicolaus upgraded shares of Incyte from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $75.00 to $107.00 in a research note on Monday, June 16th. Citigroup upped their price objective on shares of Incyte from $88.00 to $103.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Finally, BMO Capital Markets reiterated an "underperform" rating and issued a $60.00 target price (up from $52.00) on shares of Incyte in a research note on Wednesday, July 30th. Seven equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Incyte has a consensus rating of "Hold" and a consensus price target of $81.20.

Incyte Profile

Incyte Corporation, a biopharmaceutical company, engages in the discovery, development, and commercialization of therapeutics for hematology/oncology, and inflammation and autoimmunity areas in the United States and internationally. The company offers JAKAFI (ruxolitinib) for treatment of intermediate or high-risk myelofibrosis, polycythemia vera, and steroid-refractory acute graft-versus-host disease; MONJUVI (tafasitamab-cxix)/MINJUVI (tafasitamab) for relapsed or refractory diffuse large B-cell lymphoma; PEMAZYRE (pemigatinib), a fibroblast growth factor receptor kinase inhibitor that act as oncogenic drivers in liquid and solid tumor types; ICLUSIG (ponatinib) to treat chronic myeloid leukemia and Philadelphia-chromosome positive acute lymphoblastic leukemia; and ZYNYZ (retifanlimab-dlwr) to treat adults with metastatic or recurrent locally advanced Merkel cell carcinoma, as well as OPZELURA cream for treatment of atopic dermatitis.

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