AustralianSuper Pty Ltd Takes $18.09 Million Position in Incyte Corporation $INCY

AustralianSuper Pty Ltd bought a new position in shares of Incyte Corporation (NASDAQ:INCY) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 213,241 shares of the biopharmaceutical company’s stock, valued at approximately $18,085,000. AustralianSuper Pty Ltd owned about 0.11% of Incyte as of its most recent SEC filing.

Several other large investors have also made changes to their positions in INCY. denkapparat Operations GmbH raised its position in shares of Incyte by 46.1% during the second quarter. denkapparat Operations GmbH now owns 11,292 shares of the biopharmaceutical company’s stock worth $769,000 after purchasing an additional 3,564 shares during the period. Rakuten Investment Management Inc. bought a new position in Incyte in the third quarter valued at approximately $14,646,000. LBP AM SA lifted its stake in Incyte by 33.6% in the third quarter. LBP AM SA now owns 238,705 shares of the biopharmaceutical company’s stock valued at $20,245,000 after buying an additional 59,974 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Incyte by 38.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 387,605 shares of the biopharmaceutical company’s stock valued at $32,873,000 after buying an additional 108,645 shares during the period. Finally, Callan Family Office LLC bought a new stake in shares of Incyte during the second quarter worth $636,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Incyte Price Performance

Incyte stock opened at $101.08 on Friday. The company has a current ratio of 3.20, a quick ratio of 3.13 and a debt-to-equity ratio of 0.01. The stock’s 50 day moving average is $101.93 and its 200-day moving average is $91.54. Incyte Corporation has a 12 month low of $53.56 and a 12 month high of $112.29. The company has a market capitalization of $19.84 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 0.60 and a beta of 0.82.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, October 28th. The biopharmaceutical company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.61. Incyte had a net margin of 24.69% and a return on equity of 26.56%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the business posted $1.07 EPS. The business’s revenue was up 20.0% compared to the same quarter last year. Equities research analysts expect that Incyte Corporation will post 4.86 EPS for the current year.

Insider Buying and Selling

In related news, EVP Lee Heeson sold 3,074 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $94.02, for a total value of $289,017.48. Following the completion of the transaction, the executive vice president owned 29,241 shares of the company’s stock, valued at $2,749,238.82. The trade was a 9.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Thomas Tray sold 2,774 shares of the stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $100.00, for a total transaction of $277,400.00. Following the sale, the insider owned 22,973 shares in the company, valued at $2,297,300. The trade was a 10.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 98,897 shares of company stock valued at $9,869,376 in the last ninety days. Insiders own 17.80% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. TD Cowen reaffirmed a “buy” rating on shares of Incyte in a research report on Tuesday, January 13th. Barclays boosted their price target on Incyte from $101.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, November 24th. Truist Financial set a $103.00 price objective on Incyte in a research report on Wednesday, December 24th. Morgan Stanley lifted their target price on Incyte from $92.00 to $94.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 6th. Finally, Piper Sandler upped their price target on Incyte from $82.00 to $102.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Eight research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $100.75.

About Incyte

Incyte Corporation is a Wilmington, Delaware–based biopharmaceutical company focused on the discovery, development and commercialization of novel therapies in oncology and inflammation. Since its founding in 2002, Incyte has grown from a small research organization into a global enterprise, advancing a portfolio of internally developed and partnered assets. The company’s research and development efforts center on small-molecule drugs and biologics that modulate critical signaling pathways implicated in cancer, autoimmune disorders and rare diseases.

The company’s flagship product is Jakafi® (ruxolitinib), a Janus kinase (JAK) inhibitor approved for the treatment of myelofibrosis and polycythemia vera.