Barry P. Flannelly Sells 3,680 Shares of Incyte Co. (NASDAQ:INCY) Stock

Incyte Co. (NASDAQ:INCY) EVP Barry P. Flannelly sold 3,680 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total value of $293,222.40. Following the sale, the executive vice president now owns 58,042 shares in the company, valued at approximately $4,624,786.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Incyte Stock Up 1.2 %

NASDAQ:INCY traded up $1.01 during mid-day trading on Friday, reaching $83.35. The stock had a trading volume of 990,010 shares, compared to its average volume of 2,334,861. The company has a market capitalization of $16.06 billion, a price-to-earnings ratio of 588.18, a price-to-earnings-growth ratio of 8.73 and a beta of 0.71. The stock’s 50 day simple moving average is $66.79 and its two-hundred day simple moving average is $62.43. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82. Incyte Co. has a 1-year low of $50.35 and a 1-year high of $83.70.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in INCY. ProShare Advisors LLC lifted its stake in Incyte by 14.4% during the first quarter. ProShare Advisors LLC now owns 63,086 shares of the biopharmaceutical company’s stock valued at $3,594,000 after purchasing an additional 7,925 shares during the last quarter. Kennedy Capital Management LLC purchased a new stake in shares of Incyte in the 1st quarter valued at approximately $463,000. Magnetar Financial LLC acquired a new position in Incyte in the 1st quarter worth approximately $1,817,000. Greenwood Capital Associates LLC purchased a new position in Incyte during the 3rd quarter worth approximately $433,000. Finally, Andra AP fonden boosted its position in shares of Incyte by 35.2% in the second quarter. Andra AP fonden now owns 247,800 shares of the biopharmaceutical company’s stock worth $15,022,000 after buying an additional 64,500 shares during the period. 96.97% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

INCY has been the topic of several analyst reports. The Goldman Sachs Group raised their price target on shares of Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft lifted their price objective on Incyte from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. BMO Capital Markets restated an “underperform” rating and issued a $52.00 price target (up previously from $48.00) on shares of Incyte in a report on Wednesday, October 30th. Oppenheimer increased their price objective on shares of Incyte from $81.00 to $82.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Wolfe Research initiated coverage on shares of Incyte in a research report on Tuesday, October 1st. They set an “outperform” rating and a $84.00 price target for the company. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Incyte has a consensus rating of “Hold” and a consensus price target of $76.74.

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.