Incyte (NASDAQ:INCY) EVP Sells $23,581.01 in Stock

Incyte Corporation (NASDAQ:INCY) EVP Sheila Denton sold 277 shares of the company’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $85.13, for a total value of $23,581.01. Following the completion of the transaction, the executive vice president directly owned 26,569 shares in the company, valued at approximately $2,261,818.97. The trade was a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Incyte Stock Performance

Shares of INCY stock opened at $87.57 on Monday. The business has a fifty day moving average of $85.20 and a 200 day moving average of $72.61. Incyte Corporation has a 1 year low of $53.56 and a 1 year high of $92.86. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.85 and a quick ratio of 2.78. The firm has a market capitalization of $17.10 billion, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 0.68 and a beta of 0.73.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Barclays assumed coverage on Incyte in a research report on Friday, August 1st. They issued an “overweight” rating and a $90.00 target price on the stock. Guggenheim reiterated a “neutral” rating on shares of Incyte in a research note on Friday, September 19th. Citigroup boosted their target price on shares of Incyte from $88.00 to $103.00 and gave the company a “buy” rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. increased their price target on Incyte from $73.00 to $89.00 and gave the stock a “neutral” rating in a research report on Thursday, October 9th. Finally, Royal Bank Of Canada lifted their price objective on Incyte from $72.00 to $81.00 and gave the company a “sector perform” rating in a research note on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Incyte currently has an average rating of “Hold” and a consensus price target of $84.79.

Institutional Investors Weigh In On Incyte

Hedge funds have recently modified their holdings of the company. Czech National Bank raised its holdings in Incyte by 6.4% in the 2nd quarter. Czech National Bank now owns 39,271 shares of the biopharmaceutical company’s stock worth $2,674,000 after purchasing an additional 2,378 shares during the period. Principal Financial Group Inc. raised its stake in shares of Incyte by 0.7% during the 1st quarter. Principal Financial Group Inc. now owns 213,947 shares of the biopharmaceutical company’s stock worth $12,954,000 after buying an additional 1,419 shares during the period. Amalgamated Bank lifted its position in shares of Incyte by 1.9% during the 1st quarter. Amalgamated Bank now owns 31,551 shares of the biopharmaceutical company’s stock valued at $1,910,000 after buying an additional 591 shares in the last quarter. OMNI 360 Wealth Inc. acquired a new stake in Incyte in the 2nd quarter valued at $310,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Incyte by 26.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 65,467 shares of the biopharmaceutical company’s stock worth $3,964,000 after acquiring an additional 13,523 shares in the last quarter. 96.97% of the stock is owned by hedge funds and other institutional investors.

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.