UniSuper Management Pty Ltd Grows Position in Incyte Co. (NASDAQ:INCY)

UniSuper Management Pty Ltd grew its position in shares of Incyte Co. (NASDAQ:INCY) by 591.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,391 shares of the biopharmaceutical company’s stock after acquiring an additional 14,877 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Incyte were worth $991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Cape Investment Advisory Inc. purchased a new position in Incyte during the fourth quarter worth about $25,000. Larson Financial Group LLC lifted its position in shares of Incyte by 4,220.0% during the 4th quarter. Larson Financial Group LLC now owns 432 shares of the biopharmaceutical company’s stock worth $27,000 after buying an additional 422 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new position in shares of Incyte in the 1st quarter worth approximately $28,000. Riverview Trust Co bought a new position in shares of Incyte in the first quarter valued at approximately $29,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Incyte during the fourth quarter valued at approximately $31,000. Institutional investors own 96.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on INCY. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research note on Tuesday, June 18th. Oppenheimer decreased their price objective on shares of Incyte from $92.00 to $84.00 and set an “outperform” rating for the company in a report on Wednesday, April 24th. BMO Capital Markets reiterated an “underperform” rating and issued a $48.00 target price (down from $52.00) on shares of Incyte in a research note on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft began coverage on shares of Incyte in a research report on Thursday, May 23rd. They set a “hold” rating and a $55.00 target price for the company. Finally, StockNews.com downgraded Incyte from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Incyte has an average rating of “Hold” and an average price target of $73.44.

Incyte Price Performance

INCY stock traded up $2.14 during mid-day trading on Thursday, reaching $69.05. 134,043 shares of the company traded hands, compared to its average volume of 2,532,420. Incyte Co. has a 52-week low of $50.27 and a 52-week high of $69.05. The company has a market capitalization of $15.50 billion, a P/E ratio of 20.28, a P/E/G ratio of 1.38 and a beta of 0.73. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.47 and a quick ratio of 3.43. The company has a fifty day moving average price of $60.56 and a 200-day moving average price of $58.63.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, April 30th. The biopharmaceutical company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.31). Incyte had a net margin of 19.78% and a return on equity of 12.83%. The firm had revenue of $880.89 million for the quarter, compared to analysts’ expectations of $935.85 million. As a group, analysts anticipate that Incyte Co. will post 3.66 earnings per share for the current year.

Insider Activity

In related news, EVP Barry P. Flannelly sold 1,306 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $64.19, for a total value of $83,832.14. Following the sale, the executive vice president now owns 58,042 shares in the company, valued at $3,725,715.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Incyte news, EVP Barry P. Flannelly sold 8,148 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $60.00, for a total value of $488,880.00. Following the completion of the transaction, the executive vice president now owns 50,534 shares of the company’s stock, valued at approximately $3,032,040. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Barry P. Flannelly sold 1,306 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $64.19, for a total transaction of $83,832.14. Following the sale, the executive vice president now owns 58,042 shares in the company, valued at approximately $3,725,715.98. The disclosure for this sale can be found here. Insiders sold 29,711 shares of company stock worth $1,786,941 in the last three months. Corporate insiders own 17.50% of the company’s stock.

About Incyte

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.