Incyte Co. (NASDAQ:INCY) EVP Barry P. Flannelly Sells 19,807 Shares

Incyte Co. (NASDAQ:INCY) EVP Barry P. Flannelly sold 19,807 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $67.69, for a total value of $1,340,735.83. Following the completion of the sale, the executive vice president now owns 33,567 shares of the company’s stock, valued at approximately $2,272,150.23. The trade was a 37.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Incyte Trading Down 3.2 %

Shares of NASDAQ:INCY traded down $2.01 during trading on Tuesday, hitting $60.00. The company had a trading volume of 3,343,735 shares, compared to its average volume of 2,247,282. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. The company has a fifty day simple moving average of $71.55 and a two-hundred day simple moving average of $70.31. Incyte Co. has a one year low of $50.35 and a one year high of $83.95. The stock has a market cap of $11.61 billion, a price-to-earnings ratio of 222.23, a price-to-earnings-growth ratio of 0.41 and a beta of 0.76.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. As a group, equities analysts forecast that Incyte Co. will post 4.86 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Point72 Asset Management L.P. acquired a new stake in shares of Incyte in the 3rd quarter worth $156,611,000. Norges Bank acquired a new position in shares of Incyte in the 4th quarter valued at about $121,890,000. AQR Capital Management LLC lifted its holdings in shares of Incyte by 29.7% in the 4th quarter. AQR Capital Management LLC now owns 3,502,813 shares of the biopharmaceutical company’s stock valued at $241,519,000 after buying an additional 801,090 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Incyte by 861.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 891,659 shares of the biopharmaceutical company’s stock valued at $61,587,000 after buying an additional 798,877 shares during the period. Finally, Sound Shore Management Inc. CT increased its stake in shares of Incyte by 98.4% in the 4th quarter. Sound Shore Management Inc. CT now owns 1,201,089 shares of the biopharmaceutical company’s stock valued at $82,959,000 after purchasing an additional 595,741 shares in the last quarter. 96.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on INCY. StockNews.com cut Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Guggenheim cut Incyte from a “buy” rating to a “neutral” rating and set a $92.00 target price for the company. in a research report on Tuesday. Royal Bank of Canada cut their target price on Incyte from $70.00 to $68.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 11th. Truist Financial cut their target price on Incyte from $74.00 to $72.00 and set a “hold” rating for the company in a research report on Tuesday. Finally, Citigroup cut their target price on Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Incyte has an average rating of “Hold” and an average price target of $75.13.

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.