UNIVEST FINANCIAL Corp Increases Stock Position in Incyte Co. (NASDAQ:INCY)

UNIVEST FINANCIAL Corp increased its position in Incyte Co. (NASDAQ:INCY) by 77.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,854 shares of the biopharmaceutical company’s stock after buying an additional 3,877 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in Incyte were worth $537,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INCY. Vanguard Group Inc. raised its holdings in shares of Incyte by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 22,715,821 shares of the biopharmaceutical company’s stock worth $1,294,120,000 after purchasing an additional 196,440 shares during the period. LSV Asset Management raised its holdings in Incyte by 2.3% in the first quarter. LSV Asset Management now owns 2,754,777 shares of the biopharmaceutical company’s stock valued at $156,940,000 after buying an additional 62,950 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in Incyte by 7.6% during the first quarter. Jacobs Levy Equity Management Inc. now owns 2,514,634 shares of the biopharmaceutical company’s stock valued at $143,259,000 after buying an additional 177,852 shares in the last quarter. Norges Bank purchased a new stake in Incyte during the fourth quarter worth approximately $123,253,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Incyte by 7.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,326,814 shares of the biopharmaceutical company’s stock worth $83,311,000 after acquiring an additional 97,614 shares in the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insider Buying and Selling

In other Incyte news, EVP Barry P. Flannelly sold 19,164 shares of Incyte stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $60.00, for a total value of $1,149,840.00. Following the completion of the transaction, the executive vice president now directly owns 66,377 shares in the company, valued at $3,982,620. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Barry P. Flannelly sold 1,306 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $64.19, for a total value of $83,832.14. Following the sale, the executive vice president now owns 58,042 shares of the company’s stock, valued at approximately $3,725,715.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Barry P. Flannelly sold 19,164 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $60.00, for a total transaction of $1,149,840.00. Following the transaction, the executive vice president now directly owns 66,377 shares of the company’s stock, valued at $3,982,620. The disclosure for this sale can be found here. Insiders have sold a total of 44,189 shares of company stock worth $2,812,522 over the last quarter. 17.50% of the stock is owned by company insiders.

Analyst Ratings Changes

INCY has been the topic of several recent research reports. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a report on Tuesday, June 18th. Bank of America upped their target price on Incyte from $62.00 to $66.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. raised their target price on Incyte from $59.00 to $61.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. BMO Capital Markets restated an “underperform” rating and issued a $48.00 price target (down previously from $52.00) on shares of Incyte in a report on Tuesday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Incyte from $55.00 to $60.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $73.29.

Incyte Price Performance

Shares of INCY opened at $61.26 on Friday. Incyte Co. has a 52 week low of $50.27 and a 52 week high of $70.36. The company has a current ratio of 1.92, a quick ratio of 1.84 and a debt-to-equity ratio of 0.01. The firm has a market cap of $13.76 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 5.23 and a beta of 0.73. The stock has a 50 day moving average of $63.41 and a 200-day moving average of $59.47.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Incyte had a return on equity of 0.75% and a net margin of 2.52%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.77 EPS. As a group, analysts forecast that Incyte Co. will post 0.67 EPS for the current year.

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.