United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Invests $318,000 in Incyte Co. (NASDAQ:INCY)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in Incyte Co. (NASDAQ:INCY) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 4,600 shares of the biopharmaceutical company’s stock, valued at approximately $318,000.

A number of other hedge funds also recently bought and sold shares of INCY. Quintet Private Bank Europe S.A. purchased a new stake in Incyte during the 4th quarter valued at $26,000. Global X Japan Co. Ltd. lifted its holdings in shares of Incyte by 144.7% during the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 230 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Incyte during the third quarter valued at $30,000. R Squared Ltd bought a new stake in Incyte in the 4th quarter worth about $30,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Incyte in the 3rd quarter worth about $33,000. Institutional investors own 96.97% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Barry P. Flannelly sold 19,807 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the completion of the transaction, the executive vice president now owns 33,567 shares in the company, valued at $2,272,150.23. This trade represents a 37.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Sheila A. Denton sold 14,069 shares of Incyte stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $74.07, for a total value of $1,042,090.83. Following the completion of the sale, the executive vice president now directly owns 25,848 shares in the company, valued at $1,914,561.36. This trade represents a 35.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,827 shares of company stock worth $3,322,618 in the last three months. 17.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on INCY shares. Royal Bank of Canada reduced their price target on shares of Incyte from $70.00 to $68.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 11th. Guggenheim lowered shares of Incyte from a “buy” rating to a “neutral” rating and set a $92.00 target price for the company. in a research note on Tuesday, March 18th. JMP Securities restated a “market perform” rating on shares of Incyte in a research note on Tuesday, February 11th. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. Finally, StockNews.com cut Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. One equities 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $74.88.

Incyte Stock Down 1.3 %

INCY opened at $61.26 on Thursday. The stock has a market cap of $11.86 billion, a price-to-earnings ratio of 226.90, a price-to-earnings-growth 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 firm’s fifty day moving average is $70.00 and its 200 day moving average is $70.12. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95.

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

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.