Twin Capital Management Inc. Takes Position in Incyte Corporation $INCY

Key Points

• Twin Capital Management opened a new position in Incyte, buying 9,292 shares valued at about $875,000 in the first quarter.
• Incyte reported better-than-expected first-quarter results, with EPS of $1.81 versus estimates of $1.38 and revenue of $1.27 billion, up 20.9% year over year.
• Analyst sentiment remains mixed: Barclays raised its target to $134 and rated the stock Overweight, while the overall consensus is still Hold with an average target price of $109.95.

Twin Capital Management Inc. bought a new position in shares of Incyte Corporation (NASDAQ:INCY - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 9,292 shares of the biopharmaceutical company's stock, valued at approximately $875,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of INCY. Nordea Investment Management AB increased its holdings in Incyte by 941.8% in the 4th quarter. Nordea Investment Management AB now owns 322,223 shares of the biopharmaceutical company's stock valued at $31,874,000 after purchasing an additional 291,293 shares in the last quarter. Toth Financial Advisory Corp acquired a new position in shares of Incyte during the fourth quarter worth about $1,213,000. Fairvoy Private Wealth LLC lifted its stake in shares of Incyte by 468.8% during the fourth quarter. Fairvoy Private Wealth LLC now owns 30,169 shares of the biopharmaceutical company's stock worth $2,980,000 after purchasing an additional 24,865 shares in the last quarter. Swiss Life Asset Management Ltd boosted its position in shares of Incyte by 180.8% in the third quarter. Swiss Life Asset Management Ltd now owns 85,480 shares of the biopharmaceutical company's stock worth $7,250,000 after buying an additional 55,039 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of Incyte by 627.8% in the fourth quarter. SG Americas Securities LLC now owns 186,790 shares of the biopharmaceutical company's stock worth $18,449,000 after buying an additional 161,124 shares during the period. Institutional investors and hedge funds own 96.97% of the company's stock.

Incyte Trading Up 1.4%

INCY opened at $116.65 on Friday. Incyte Corporation has a 12-month low of $67.17 and a 12-month high of $118.97. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.68 and a quick ratio of 3.60. The stock has a market capitalization of $23.30 billion, a PE ratio of 16.48, a P/E/G ratio of 1.05 and a beta of 0.76. The firm's fifty day moving average price is $104.61 and its 200 day moving average price is $100.92.

Incyte (NASDAQ:INCY - Get Free Report) last released its earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.43. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.22 billion. Incyte had a net margin of 26.71% and a return on equity of 26.66%. The company's revenue was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.16 EPS. As a group, research analysts expect that Incyte Corporation will post 6.61 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Barclays increased their price objective on shares of Incyte from $117.00 to $134.00 and gave the company an "overweight" rating in a research report on Tuesday. Sanford C. Bernstein started coverage on shares of Incyte in a research note on Thursday, May 21st. They issued a "market perform" rating and a $99.00 target price for the company. UBS Group raised their price target on shares of Incyte from $103.00 to $113.00 and gave the company a "neutral" rating in a report on Friday, June 26th. HC Wainwright reaffirmed a "buy" rating on shares of Incyte in a research note on Tuesday. Finally, Citigroup reiterated a "market perform" rating on shares of Incyte in a report on Wednesday. Eight analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $109.95.

Incyte Company 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.

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