UniSuper Management Pty Ltd Increases Holdings in Incyte Co. (NASDAQ:INCY)

UniSuper Management Pty Ltd boosted its holdings in shares of Incyte Co. (NASDAQ:INCY) by 591.8% during the 1st quarter, Holdings Channel reports. The firm owned 17,391 shares of the biopharmaceutical company’s stock after buying an additional 14,877 shares during the period. UniSuper Management Pty Ltd’s holdings in Incyte were worth $991,000 at the end of the most recent reporting period.

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

Incyte Trading Up 3.2 %

Incyte stock traded up $2.14 during mid-day trading on Thursday, hitting $69.05. The company’s stock had a trading volume of 134,043 shares, compared to its average volume of 2,532,420. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.43 and a current ratio of 3.47. The company has a 50 day moving average of $60.56 and a 200-day moving average of $58.63. Incyte Co. has a one year low of $50.27 and a one year high of $69.05. The stock has a market cap of $15.50 billion, a PE ratio of 20.28, a P/E/G ratio of 1.38 and a beta of 0.73.

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

Insider Buying and Selling at Incyte

In other news, EVP Barry P. Flannelly sold 19,164 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total transaction of $1,149,840.00. Following the transaction, the executive vice president now directly owns 66,377 shares of the company’s stock, valued at $3,982,620. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Incyte news, EVP Barry P. Flannelly sold 19,164 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $60.00, for a total value of $1,149,840.00. Following the completion of the sale, the executive vice president now directly owns 66,377 shares in the company, valued at approximately $3,982,620. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Thomas Tray sold 1,093 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $58.91, for a total value of $64,388.63. Following the transaction, the insider now owns 21,634 shares in the company, valued at approximately $1,274,458.94. The disclosure for this sale can be found here. Insiders sold a total of 29,711 shares of company stock valued at $1,786,941 in the last three months. Company insiders own 17.50% of the company’s stock.

Wall Street Analyst Weigh In

INCY has been the subject of several research analyst reports. StockNews.com cut Incyte from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 2nd. Truist Financial reiterated a “buy” rating and set a $83.00 price objective (down previously from $84.00) on shares of Incyte in a research report on Wednesday, May 1st. TD Cowen reduced their target price on shares of Incyte from $88.00 to $80.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft began coverage on shares of Incyte in a report on Thursday, May 23rd. They issued a “hold” rating and a $55.00 price target for the company. Finally, BMO Capital Markets reiterated an “underperform” rating and issued a $48.00 price target (down previously from $52.00) on shares of Incyte in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $73.44.

Incyte Company 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.