Incyte Corporation $INCY Shares Purchased by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp raised its position in Incyte Corporation (NASDAQ:INCY) by 23.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 35,187 shares of the biopharmaceutical company’s stock after buying an additional 6,700 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Incyte were worth $2,396,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. MAI Capital Management increased its position in shares of Incyte by 19.9% during the second quarter. MAI Capital Management now owns 754 shares of the biopharmaceutical company’s stock worth $51,000 after purchasing an additional 125 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Incyte by 1.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 8,993 shares of the biopharmaceutical company’s stock worth $612,000 after purchasing an additional 147 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Incyte by 10.1% during the second quarter. Farther Finance Advisors LLC now owns 1,706 shares of the biopharmaceutical company’s stock worth $116,000 after buying an additional 156 shares in the last quarter. Advisory Alpha LLC raised its position in shares of Incyte by 2.1% in the first quarter. Advisory Alpha LLC now owns 8,056 shares of the biopharmaceutical company’s stock valued at $488,000 after buying an additional 166 shares during the last quarter. Finally, Wealthfront Advisers LLC raised its position in shares of Incyte by 2.4% in the second quarter. Wealthfront Advisers LLC now owns 7,366 shares of the biopharmaceutical company’s stock valued at $502,000 after buying an additional 171 shares during the last quarter. Institutional investors and hedge funds own 96.97% of the company’s stock.

Insider Buying and Selling

In related news, EVP Sheila A. Denton sold 598 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $101.36, for a total transaction of $60,613.28. Following the sale, the executive vice president directly owned 26,569 shares of the company’s stock, valued at $2,693,033.84. This represents a 2.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lee Heeson sold 3,074 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $94.02, for a total transaction of $289,017.48. Following the completion of the transaction, the executive vice president directly owned 29,241 shares of the company’s stock, valued at $2,749,238.82. This represents a 9.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 4,227 shares of company stock valued at $396,327 in the last 90 days. Company insiders own 17.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on INCY shares. Stifel Nicolaus upped their price objective on shares of Incyte from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Bank of America increased their price target on Incyte from $90.00 to $104.00 and gave the company a “buy” rating in a report on Thursday, September 4th. Barclays boosted their price objective on Incyte from $101.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, November 24th. Oppenheimer lowered Incyte from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 8th. Finally, Wells Fargo & Company boosted their price target on shares of Incyte from $89.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Seven analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Incyte currently has a consensus rating of “Hold” and a consensus target price of $93.85.

Incyte Trading Down 0.6%

Shares of INCY stock opened at $101.44 on Wednesday. Incyte Corporation has a 1-year low of $53.56 and a 1-year high of $109.28. The firm has a market cap of $19.92 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 0.70 and a beta of 0.74. The company has a 50-day moving average of $94.80 and a two-hundred day moving average of $81.84. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.20 and a quick ratio of 2.78.

Incyte (NASDAQ:INCY) last posted its earnings results on Tuesday, October 28th. The biopharmaceutical company reported $2.26 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the firm earned $1.07 EPS. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. On average, analysts predict that Incyte Corporation will post 4.86 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.