OMERS ADMINISTRATION Corp Lowers Stake in Incyte Co. (NASDAQ:INCY)

OMERS ADMINISTRATION Corp trimmed its holdings in Incyte Co. (NASDAQ:INCY - Free Report) by 26.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,487 shares of the biopharmaceutical company's stock after selling 10,255 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Incyte were worth $1,968,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Barclays PLC grew its position in shares of Incyte by 8.1% during the third quarter. Barclays PLC now owns 1,031,932 shares of the biopharmaceutical company's stock valued at $68,208,000 after purchasing an additional 77,542 shares in the last quarter. Czech National Bank increased its stake in Incyte by 6.5% in the 4th quarter. Czech National Bank now owns 34,670 shares of the biopharmaceutical company's stock worth $2,395,000 after acquiring an additional 2,106 shares during the last quarter. Claro Advisors LLC purchased a new stake in shares of Incyte during the 4th quarter worth approximately $255,000. 180 Wealth Advisors LLC raised its holdings in shares of Incyte by 3.9% during the 4th quarter. 180 Wealth Advisors LLC now owns 5,231 shares of the biopharmaceutical company's stock worth $361,000 after acquiring an additional 195 shares in the last quarter. Finally, Burney Co. boosted its position in shares of Incyte by 7.3% during the 4th quarter. Burney Co. now owns 3,262 shares of the biopharmaceutical company's stock valued at $225,000 after acquiring an additional 223 shares during the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

Incyte Trading Up 3.4%

INCY stock traded up $2.19 during mid-day trading on Tuesday, reaching $66.00. The company had a trading volume of 1,318,347 shares, compared to its average volume of 2,316,764. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. The company has a market capitalization of $12.78 billion, a PE ratio of 244.42, a price-to-earnings-growth ratio of 0.41 and a beta of 0.68. The firm has a 50 day moving average of $60.41 and a 200 day moving average of $68.30. Incyte Co. has a 12 month low of $53.56 and a 12 month high of $83.95.

Incyte (NASDAQ:INCY - Get Free Report) last issued its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.15. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $996.17 million. Incyte had a net margin of 0.77% and a return on equity of 0.05%. The company's revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 EPS. On average, equities analysts predict that Incyte Co. will post 4.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on INCY shares. Stifel Nicolaus upped their price target on shares of Incyte from $75.00 to $77.00 and gave the company a "hold" rating in a research note on Monday, February 10th. Wells Fargo & Company upped their price objective on Incyte from $58.00 to $59.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. Truist Financial decreased their price target on Incyte from $74.00 to $72.00 and set a "hold" rating on the stock in a report on Tuesday, March 18th. William Blair lowered shares of Incyte from an "outperform" rating to a "market perform" rating in a research note on Tuesday, March 18th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Incyte from $70.00 to $68.00 and set a "neutral" rating on the stock in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Incyte has a consensus rating of "Hold" and a consensus target price of $73.53.

Insiders Place Their Bets

In other Incyte news, EVP Barry P. Flannelly sold 19,807 shares of the company's stock in a transaction on 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 sale, the executive vice president now owns 33,567 shares in the company, valued at $2,272,150.23. This represents a 37.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sheila A. Denton sold 14,069 shares of the company's stock in a transaction on 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 sale, the executive vice president now owns 25,848 shares of the company's stock, 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. Insiders have sold 34,475 shares of company stock worth $2,424,751 in the last three months. Corporate insiders own 17.80% of the company's stock.

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.