Incyte Co. (NASDAQ:INCY) Insider Sells $45,916.00 in Stock

Incyte Co. (NASDAQ:INCY) insider Thomas Tray sold 650 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $70.64, for a total value of $45,916.00. Following the completion of the transaction, the insider now directly owns 23,962 shares of the company’s stock, valued at approximately $1,692,675.68. This trade represents a 2.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Monday, December 16th, Thomas Tray sold 650 shares of Incyte stock. The shares were sold at an average price of $69.31, for a total transaction of $45,051.50.

Incyte Trading Down 0.7 %

Incyte stock opened at $67.06 on Friday. The stock has a market cap of $12.92 billion, a P/E ratio of 479.03, a PEG ratio of 8.36 and a beta of 0.69. 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 $83.95. The firm’s 50 day moving average price is $72.36 and its 200-day moving average price is $66.49.

Incyte (NASDAQ:INCY) last announced its quarterly 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 company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the firm earned $0.91 EPS. The firm’s revenue for the quarter was up 23.8% compared to the same quarter last year. On average, equities analysts predict that Incyte Co. will post 0.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Incyte

Several institutional investors have recently added to or reduced their stakes in INCY. MFA Wealth Advisors LLC bought a new position in shares of Incyte during the 2nd quarter valued at approximately $26,000. Brooklyn Investment Group bought a new stake in shares of Incyte in the 3rd quarter worth about $30,000. Innealta Capital LLC purchased a new stake in shares of Incyte during the 2nd quarter valued at about $32,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Incyte in the third quarter worth about $33,000. Finally, Itau Unibanco Holding S.A. bought a new stake in Incyte during the second quarter worth approximately $36,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Wall Street Analysts Forecast Growth

INCY has been the subject of a number of research analyst reports. Morgan Stanley lifted their target price on shares of Incyte from $64.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Citigroup upped their price objective on Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. JMP Securities reissued a “market perform” rating on shares of Incyte in a research report on Tuesday, September 17th. Bank of America upgraded shares of Incyte from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $68.00 to $90.00 in a research note on Tuesday, October 29th. Finally, William Blair restated an “outperform” rating on shares of Incyte in a research report on Friday, December 13th. One investment 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average 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.