Insider Selling: Incyte Co. (NASDAQ:INCY) EVP Sells 12,352 Shares of Stock

Incyte Co. (NASDAQ:INCY) EVP Steven H. Stein sold 12,352 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $72.69, for a total transaction of $897,866.88. Following the completion of the transaction, the executive vice president now owns 66,967 shares of the company’s stock, valued at $4,867,831.23. This trade represents a 15.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Incyte Stock Down 1.4 %

Shares of NASDAQ:INCY traded down $1.06 during trading on Wednesday, reaching $72.41. 1,135,030 shares of the company traded hands, compared to its average volume of 1,493,985. Incyte Co. has a 1-year low of $50.35 and a 1-year high of $83.95. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. The firm has a market cap of $13.95 billion, a P/E ratio of 517.25, a price-to-earnings-growth ratio of 0.52 and a beta of 0.71. The firm has a fifty day simple moving average of $72.02 and a 200 day simple moving average of $68.27.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the firm earned $0.91 EPS. The business’s revenue for the quarter was up 23.8% compared to the same quarter last year. Analysts anticipate that Incyte Co. will post 0.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Incyte

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INCY. Point72 Asset Management L.P. bought a new stake in Incyte in the third quarter worth approximately $156,611,000. Mizuho Securities USA LLC raised its stake in shares of Incyte by 13,814.7% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,000,100 shares of the biopharmaceutical company’s stock valued at $132,207,000 after acquiring an additional 1,985,726 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Incyte by 70.5% in the 2nd quarter. AQR Capital Management LLC now owns 2,661,758 shares of the biopharmaceutical company’s stock worth $159,905,000 after purchasing an additional 1,101,041 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in Incyte by 2,486.8% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 394,646 shares of the biopharmaceutical company’s stock worth $23,923,000 after purchasing an additional 379,390 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Incyte by 29.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,609,220 shares of the biopharmaceutical company’s stock worth $106,369,000 after purchasing an additional 364,169 shares during the period. Institutional investors own 96.97% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on INCY. Citigroup increased their price target on Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a report on Friday, January 10th. JMP Securities reissued a “market perform” rating on shares of Incyte in a report on Tuesday, January 14th. Oppenheimer lifted their price objective on shares of Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, BMO Capital Markets reissued an “underperform” rating and set a $52.00 target price (up from $48.00) on shares of Incyte in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $76.29.

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.