AustralianSuper Pty Ltd Raises Stock Position in Incyte Corporation $INCY

AustralianSuper Pty Ltd lifted its stake in Incyte Corporation (NASDAQ:INCY) by 200.5% in the 4th quarter, HoldingsChannel reports. The firm owned 640,733 shares of the biopharmaceutical company’s stock after buying an additional 427,492 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Incyte were worth $63,285,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Caisse de depot et placement du Quebec increased its position in shares of Incyte by 264.5% during the third quarter. Caisse de depot et placement du Quebec now owns 1,498,013 shares of the biopharmaceutical company’s stock valued at $127,046,000 after buying an additional 1,087,091 shares during the period. Man Group plc lifted its holdings in Incyte by 52.8% in the second quarter. Man Group plc now owns 1,610,670 shares of the biopharmaceutical company’s stock worth $109,687,000 after buying an additional 556,243 shares during the period. Squarepoint Ops LLC boosted its position in Incyte by 9,739.1% during the 2nd quarter. Squarepoint Ops LLC now owns 558,171 shares of the biopharmaceutical company’s stock valued at $38,011,000 after acquiring an additional 552,498 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its position in Incyte by 1,346.2% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 571,234 shares of the biopharmaceutical company’s stock valued at $48,446,000 after acquiring an additional 531,734 shares in the last quarter. Finally, Pictet Asset Management Holding SA grew its holdings in shares of Incyte by 59.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,315,666 shares of the biopharmaceutical company’s stock worth $130,145,000 after acquiring an additional 489,382 shares during the period. Institutional investors own 96.97% of the company’s stock.

Incyte Stock Performance

INCY stock opened at $97.63 on Friday. The stock has a market capitalization of $19.50 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 0.95 and a beta of 0.79. Incyte Corporation has a 12-month low of $61.10 and a 12-month high of $112.29. The company has a current ratio of 3.68, a quick ratio of 3.60 and a debt-to-equity ratio of 0.01. The stock’s 50 day simple moving average is $95.45 and its 200 day simple moving average is $99.52.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, April 28th. The biopharmaceutical company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.43. Incyte had a return on equity of 26.66% and a net margin of 26.71%.The firm had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the previous year, the business earned $1.16 earnings per share. The company’s revenue was up 20.9% on a year-over-year basis. As a group, research analysts forecast that Incyte Corporation will post 6.73 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Pablo J. Cagnoni sold 18,667 shares of Incyte stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $96.50, for a total value of $1,801,365.50. Following the completion of the sale, the insider directly owned 262,692 shares in the company, valued at $25,349,778. The trade was a 6.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on INCY. Morgan Stanley set a $102.00 target price on Incyte in a research report on Wednesday, February 11th. Weiss Ratings raised Incyte from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, April 1st. Wall Street Zen downgraded Incyte from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 14th. HC Wainwright reissued a “buy” rating and set a $135.00 price objective on shares of Incyte in a research report on Monday, May 4th. Finally, Wells Fargo & Company dropped their target price on shares of Incyte from $107.00 to $101.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 11th. Ten research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $104.26.

Incyte Company Profile

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.