UniSuper Management Pty Ltd Increases Stake in Incyte Corporation $INCY

UniSuper Management Pty Ltd increased its position in shares of Incyte Corporation (NASDAQ:INCY) by 4.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,328 shares of the biopharmaceutical company’s stock after buying an additional 1,300 shares during the period. UniSuper Management Pty Ltd’s holdings in Incyte were worth $1,715,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of INCY. Captrust Financial Advisors raised its holdings in shares of Incyte by 248.7% in the 4th quarter. Captrust Financial Advisors now owns 20,166 shares of the biopharmaceutical company’s stock valued at $1,393,000 after purchasing an additional 14,382 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Incyte by 10.8% in the 4th quarter. Cetera Investment Advisers now owns 13,288 shares of the biopharmaceutical company’s stock valued at $918,000 after purchasing an additional 1,294 shares in the last quarter. Focus Partners Wealth raised its holdings in shares of Incyte by 249.9% in the 4th quarter. Focus Partners Wealth now owns 12,073 shares of the biopharmaceutical company’s stock valued at $834,000 after purchasing an additional 8,623 shares in the last quarter. Graham Capital Management L.P. bought a new stake in shares of Incyte in the 4th quarter valued at about $254,000. Finally, Gotham Asset Management LLC raised its holdings in shares of Incyte by 18.2% in the 4th quarter. Gotham Asset Management LLC now owns 77,313 shares of the biopharmaceutical company’s stock valued at $5,340,000 after purchasing an additional 11,921 shares in the last quarter. Institutional investors own 96.97% of the company’s stock.

Incyte Price Performance

Shares of INCY stock opened at $86.25 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.78 and a current ratio of 2.85. Incyte Corporation has a fifty-two week low of $53.56 and a fifty-two week high of $87.99. The firm has a market capitalization of $16.84 billion, a price-to-earnings ratio of 19.60, a PEG ratio of 0.67 and a beta of 0.75. The stock’s 50-day simple moving average is $77.90 and its 200-day simple moving average is $68.98.

Insider Activity at Incyte

In other Incyte news, EVP Barry P. Flannelly sold 10,903 shares of the company’s stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $68.15, for a total transaction of $743,039.45. Following the transaction, the executive vice president owned 39,744 shares in the company, valued at approximately $2,708,553.60. This represents a 21.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Steven H. Stein sold 14,952 shares of the company’s stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $68.47, for a total transaction of $1,023,763.44. Following the transaction, the executive vice president owned 97,466 shares in the company, valued at $6,673,497.02. The trade was a 13.30% 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 worth $3,836,196. 17.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on INCY shares. Barclays started coverage on shares of Incyte in a report on Friday, August 1st. They issued an “overweight” rating and a $90.00 price target for the company. BMO Capital Markets restated an “underperform” rating and issued a $60.00 price target (up previously from $52.00) on shares of Incyte in a report on Wednesday, July 30th. Citigroup boosted their price objective on shares of Incyte from $88.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price objective on shares of Incyte from $67.00 to $73.00 and gave the stock a “neutral” rating in a research note on Friday, August 22nd. Finally, 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. Seven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Incyte currently has a consensus rating of “Hold” and an average target price of $82.53.

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.