OMERS ADMINISTRATION Corp Cuts Holdings in Incyte Co. (NASDAQ:INCY)

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

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Lazard Asset Management LLC boosted its stake in shares of Incyte by 123.8% in the 4th quarter. Lazard Asset Management LLC now owns 147,172 shares of the biopharmaceutical company’s stock worth $10,164,000 after buying an additional 81,408 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Incyte by 861.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 891,659 shares of the biopharmaceutical company’s stock worth $61,587,000 after buying an additional 798,877 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Incyte by 15.6% in the 4th quarter. Janus Henderson Group PLC now owns 197,890 shares of the biopharmaceutical company’s stock worth $13,669,000 after buying an additional 26,761 shares during the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of Incyte in the 4th quarter worth $2,955,000. Finally, Gotham Asset Management LLC boosted its stake in shares of Incyte by 18.2% in the 4th quarter. Gotham Asset Management LLC now owns 77,313 shares of the biopharmaceutical company’s stock worth $5,340,000 after buying an additional 11,921 shares during the last quarter. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus raised their price target on Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research note on Monday, February 10th. Truist Financial lowered their target price on Incyte from $74.00 to $72.00 and set a “hold” rating on the stock in a research report on Tuesday, March 18th. Wells Fargo & Company lifted their target price on Incyte from $58.00 to $59.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 30th. JMP Securities reiterated a “market perform” rating on shares of Incyte in a research report on Tuesday, February 11th. Finally, William Blair downgraded Incyte from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $73.53.

Insider Transactions at Incyte

In related news, 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 transaction, the executive vice president now owns 25,848 shares in the company, valued at approximately $1,914,561.36. This trade represents a 35.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Barry P. Flannelly sold 19,807 shares of Incyte stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $67.69, for a total value of $1,340,735.83. Following the completion of the transaction, the executive vice president now owns 33,567 shares of the company’s stock, valued at approximately $2,272,150.23. This represents a 37.11% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,475 shares of company stock valued at $2,424,751. 17.80% of the stock is currently owned by insiders.

Incyte Trading Up 2.6%

Shares of INCY stock opened at $62.76 on Friday. Incyte Co. has a 12-month low of $53.56 and a 12-month high of $83.95. The company has a current ratio of 1.97, a quick ratio of 1.94 and a debt-to-equity ratio of 0.01. The stock’s 50-day moving average price is $60.59 and its 200-day moving average price is $68.54. The stock has a market capitalization of $12.15 billion, a price-to-earnings ratio of 232.45, a price-to-earnings-growth ratio of 0.41 and a beta of 0.68.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.15. Incyte had a return on equity of 0.05% and a net margin of 0.77%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $996.17 million. During the same period in the previous year, the firm posted $0.64 earnings per share. The business’s revenue was up 19.5% compared to the same quarter last year. Equities research analysts predict that Incyte Co. will post 4.86 EPS 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.