Incyte Co. (NASDAQ:INCY) Insider Thomas Tray Sells 650 Shares of Stock

Incyte Co. (NASDAQ:INCY) insider Thomas Tray sold 650 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $69.31, for a total transaction of $45,051.50. Following the sale, the insider now directly owns 23,312 shares of the company’s stock, valued at $1,615,754.72. This represents a 2.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Thomas Tray also recently made the following trade(s):

• On Friday, December 13th, Thomas Tray sold 650 shares of Incyte stock. The stock was sold at an average price of $70.64, for a total transaction of $45,916.00.

Incyte Trading Down 0.6 %

Shares of NASDAQ INCY opened at $69.40 on Wednesday. Incyte Co. has a 12-month low of $50.35 and a 12-month high of $83.95. The company has a market cap of $13.37 billion, a price-to-earnings ratio of 495.71, a price-to-earnings-growth ratio of 8.36 and a beta of 0.69. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. The stock’s 50 day simple moving average is $72.29 and its 200 day simple moving average is $66.48.

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). Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the previous year, the business posted $0.91 earnings per share. The business’s quarterly revenue was up 23.8% compared to the same quarter last year. Equities research analysts expect that Incyte Co. will post 0.4 EPS for the current year.

Institutional Trading of Incyte

Large investors have recently modified their holdings of the company. Orion Portfolio Solutions LLC bought a new position in Incyte in the 3rd quarter worth about $770,000. Greenwood Capital Associates LLC bought a new position in Incyte in the 3rd quarter worth approximately $433,000. Tri Ri Asset Management Corp acquired a new stake in Incyte in the 3rd quarter valued at approximately $3,292,000. Andra AP fonden raised its stake in Incyte by 35.2% during the 2nd quarter. Andra AP fonden now owns 247,800 shares of the biopharmaceutical company’s stock valued at $15,022,000 after acquiring an additional 64,500 shares in the last quarter. Finally, Cypress Capital Group acquired a new position in Incyte during the 3rd quarter worth $971,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on INCY shares. Wolfe Research started coverage on Incyte in a report on Tuesday, October 1st. They issued an “outperform” rating and a $84.00 price target for the company. Oppenheimer upped their price target on shares of Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. The Goldman Sachs Group raised their price objective on shares of Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research note on Tuesday, November 19th. Finally, StockNews.com downgraded Incyte from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 13th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $76.18.

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.