Incyte Co. (NASDAQ:INCY) EVP Sells $293,222.40 in Stock

Incyte Co. (NASDAQ:INCY) EVP Barry P. Flannelly sold 3,680 shares of Incyte stock in a transaction dated Wednesday, November 6th. The shares were 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 of the company’s stock, valued at approximately $4,624,786.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Incyte Trading Up 1.2 %

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

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on INCY shares. JPMorgan Chase & Co. lifted their price objective on shares of Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Wolfe Research initiated coverage on Incyte in a research report on Tuesday, October 1st. They set an “outperform” rating and a $84.00 target price for the company. Morgan Stanley upped their price objective on shares of Incyte from $64.00 to $69.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. BMO Capital Markets reissued an “underperform” rating and set a $52.00 target price (up previously from $48.00) on shares of Incyte in a research report on Wednesday, October 30th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $76.74.

Institutional Investors Weigh In On Incyte

A number of institutional investors and hedge funds have recently modified their holdings of INCY. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Incyte by 13.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,944 shares of the biopharmaceutical company’s stock worth $566,000 after buying an additional 1,146 shares during the last quarter. Advisory Alpha LLC acquired a new stake in shares of Incyte during the first quarter worth $320,000. Empirical Finance LLC grew its stake in shares of Incyte by 3.7% in the first quarter. Empirical Finance LLC now owns 6,395 shares of the biopharmaceutical company’s stock valued at $364,000 after acquiring an additional 230 shares in the last quarter. SG Americas Securities LLC increased its position in Incyte by 16.7% during the first quarter. SG Americas Securities LLC now owns 44,119 shares of the biopharmaceutical company’s stock worth $2,513,000 after acquiring an additional 6,328 shares during the period. Finally, Forsta AP Fonden raised its stake in Incyte by 164.5% in the 1st quarter. Forsta AP Fonden now owns 82,000 shares of the biopharmaceutical company’s stock worth $4,672,000 after purchasing an additional 51,000 shares in the last quarter. 96.97% of the stock is owned by institutional investors.

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.