4,600 Shares in Incyte Co. (NASDAQ:INCY) Purchased by United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in shares of Incyte Co. (NASDAQ:INCY) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 4,600 shares of the biopharmaceutical company’s stock, valued at approximately $318,000.

Other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA purchased a new position in Incyte during the third quarter worth $4,739,000. Cerity Partners LLC boosted its stake in shares of Incyte by 40.7% during the 3rd quarter. Cerity Partners LLC now owns 19,157 shares of the biopharmaceutical company’s stock worth $1,266,000 after purchasing an additional 5,537 shares during the period. Summit Trail Advisors LLC bought a new position in Incyte during the 3rd quarter valued at about $362,000. Fisher Asset Management LLC raised its position in Incyte by 24.5% in the 3rd quarter. Fisher Asset Management LLC now owns 11,522 shares of the biopharmaceutical company’s stock worth $762,000 after purchasing an additional 2,264 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in Incyte by 33.3% in the third quarter. The Manufacturers Life Insurance Company now owns 165,537 shares of the biopharmaceutical company’s stock worth $10,942,000 after purchasing an additional 41,348 shares during the last quarter. 96.97% of the stock is owned by institutional investors.

Incyte Stock Down 1.3 %

NASDAQ:INCY opened at $61.26 on Thursday. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The stock has a market capitalization of $11.86 billion, a P/E ratio of 226.90, a P/E/G ratio of 0.41 and a beta of 0.76. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. The company’s 50-day simple moving average is $70.00 and its 200-day simple moving average is $70.12.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. On average, equities analysts anticipate that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a research note on Tuesday, February 11th. Truist Financial cut their price objective on Incyte from $74.00 to $72.00 and set a “hold” rating on the stock in a research report on Tuesday, March 18th. Wells Fargo & Company lifted their target price on Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. Stifel Nicolaus upped their price target on shares of Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a report on Monday, February 10th. Finally, UBS Group began coverage on shares of Incyte in a report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price objective for the company. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $74.88.

Insider Buying and Selling at Incyte

In related news, EVP Steven H. Stein sold 12,352 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total value of $897,866.88. Following the completion of the transaction, the executive vice president now directly owns 66,967 shares of the company’s stock, valued at $4,867,831.23. This trade represents a 15.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Sheila A. Denton sold 14,069 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $74.07, for a total transaction of $1,042,090.83. Following the sale, the executive vice president now directly owns 25,848 shares in the company, valued at approximately $1,914,561.36. This represents a 35.25 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,827 shares of company stock worth $3,322,618. 17.60% of the stock is owned by insiders.

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.