Oak Associates Ltd. OH Trims Stake in Incyte Co. (NASDAQ:INCY)

Oak Associates Ltd. OH cut its stake in Incyte Co. (NASDAQ:INCY) by 2.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,022 shares of the biopharmaceutical company’s stock after selling 500 shares during the period. Oak Associates Ltd. OH’s holdings in Incyte were worth $1,314,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. EP Wealth Advisors LLC boosted its position in shares of Incyte by 42.1% during the third quarter. EP Wealth Advisors LLC now owns 5,628 shares of the biopharmaceutical company’s stock valued at $372,000 after purchasing an additional 1,667 shares in the last quarter. National Bank of Canada FI lifted its stake in shares of Incyte by 86.1% in the third quarter. National Bank of Canada FI now owns 81,728 shares of the biopharmaceutical company’s stock worth $5,402,000 after buying an additional 37,809 shares in the last quarter. Orion Portfolio Solutions LLC purchased a new stake in shares of Incyte during the third quarter valued at approximately $770,000. MML Investors Services LLC increased its position in shares of Incyte by 4.4% during the third quarter. MML Investors Services LLC now owns 6,063 shares of the biopharmaceutical company’s stock valued at $401,000 after acquiring an additional 256 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in Incyte by 14.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 76,955 shares of the biopharmaceutical company’s stock worth $5,087,000 after acquiring an additional 9,675 shares during the last quarter. 96.97% of the stock is owned by institutional investors.

Insider Buying and Selling at Incyte

In other news, EVP Sheila A. Denton sold 14,069 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total transaction of $1,042,090.83. Following the transaction, the executive vice president now directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Barry P. Flannelly sold 19,807 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 33,567 shares of the company’s stock, valued at $2,272,150.23. This trade represents a 37.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,827 shares of company stock worth $3,322,618 over the last 90 days. Company insiders own 17.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on INCY shares. Truist Financial reduced their target price on Incyte from $74.00 to $72.00 and set a “hold” rating for the company in a report on Tuesday, March 18th. Citigroup reduced their price objective on Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. JMP Securities reissued a “market perform” rating on shares of Incyte in a report on Tuesday, February 11th. Finally, William Blair cut shares of Incyte from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Incyte has an average rating of “Hold” and an average target price of $74.88.

Incyte Stock Down 6.3 %

NASDAQ INCY opened at $55.17 on Friday. The stock has a 50 day moving average price of $66.53 and a 200-day moving average price of $69.64. Incyte Co. has a one year low of $50.35 and a one year high of $83.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. The company has a market capitalization of $10.68 billion, a P/E ratio of 204.34, a P/E/G ratio of 0.41 and a beta of 0.89.

Incyte (NASDAQ:INCY) last released its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. As a group, equities 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.