Incyte Co. (NASDAQ:INCY) EVP Sells $83,832.14 in Stock

Incyte Co. (NASDAQ:INCY) EVP Barry P. Flannelly sold 1,306 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $64.19, for a total value of $83,832.14. Following the sale, the executive vice president now directly owns 58,042 shares in the company, valued at approximately $3,725,715.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Incyte Stock Performance

Incyte stock opened at $65.87 on Friday. The company has a market cap of $14.79 billion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 1.37 and a beta of 0.73. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.47 and a quick ratio of 3.43. Incyte Co. has a 12 month low of $50.27 and a 12 month high of $67.36. The stock’s 50-day moving average is $60.04 and its 200-day moving average is $58.67.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.31). The company had revenue of $880.89 million for the quarter, compared to analysts’ expectations of $935.85 million. Incyte had a net margin of 19.78% and a return on equity of 12.83%. Equities analysts anticipate that Incyte Co. will post 3.66 earnings per share for the current year.

Institutional Investors Weigh In On Incyte

Several hedge funds have recently modified their holdings of INCY. American Century Companies Inc. raised its holdings in shares of Incyte by 25.7% during the 3rd quarter. American Century Companies Inc. now owns 248,771 shares of the biopharmaceutical company’s stock valued at $14,372,000 after buying an additional 50,930 shares during the period. Wellington Management Group LLP raised its holdings in shares of Incyte by 14.5% during the 3rd quarter. Wellington Management Group LLP now owns 88,489 shares of the biopharmaceutical company’s stock valued at $5,112,000 after buying an additional 11,173 shares during the period. Vanguard Group Inc. grew its stake in Incyte by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 22,159,419 shares of the biopharmaceutical company’s stock valued at $1,280,150,000 after purchasing an additional 289,882 shares in the last quarter. Diversified Trust Co grew its stake in Incyte by 23.2% during the 4th quarter. Diversified Trust Co now owns 16,118 shares of the biopharmaceutical company’s stock valued at $1,012,000 after purchasing an additional 3,034 shares in the last quarter. Finally, Moody National Bank Trust Division acquired a new stake in Incyte during the 4th quarter valued at approximately $873,000. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

INCY has been the topic of a number of analyst reports. TD Cowen decreased their price objective on Incyte from $88.00 to $80.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft assumed coverage on Incyte in a research note on Thursday, May 23rd. They set a “hold” rating and a $55.00 price objective on the stock. StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 2nd. Oppenheimer decreased their price target on Incyte from $92.00 to $84.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 24th. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research note on Tuesday, June 18th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $73.44.

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.