Insider Selling: Incyte Co. (NASDAQ:INCY) EVP Sells 8,450 Shares of Stock

Incyte Co. (NASDAQ:INCY) EVP Jonathan Elliott Dickinson sold 8,450 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $62.36, for a total transaction of $526,942.00. Following the transaction, the executive vice president now directly owns 36,390 shares in the company, valued at approximately $2,269,280.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Incyte Stock Up 4.1 %

Shares of Incyte stock traded up $2.61 on Monday, reaching $66.17. 1,045,369 shares of the company were exchanged, compared to its average volume of 2,430,821. Incyte Co. has a 1-year low of $50.27 and a 1-year high of $70.36. The stock’s 50 day moving average price is $63.87 and its 200-day moving average price is $59.55. The company has a market cap of $14.86 billion, a P/E ratio of 19.83, a price-to-earnings-growth ratio of 5.03 and a beta of 0.73. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.92 and a quick ratio of 1.84.

Incyte (NASDAQ:INCY) last posted its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($2.60). The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.01 billion. Incyte had a net margin of 2.52% and a return on equity of 0.75%. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.77 earnings per share. As a group, equities analysts forecast that Incyte Co. will post 0.67 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on INCY. Citigroup boosted their target price on shares of Incyte from $80.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. William Blair reiterated an “outperform” rating on shares of Incyte in a report on Monday, September 9th. Oppenheimer cut their target price on Incyte from $84.00 to $81.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research note on Monday. Finally, JPMorgan Chase & Co. raised their price objective on Incyte from $59.00 to $61.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $73.76.

Institutional Investors Weigh In On Incyte

Institutional investors have recently added to or reduced their stakes in the business. Deseret Mutual Benefit Administrators lifted its position in Incyte by 37.1% in the second quarter. Deseret Mutual Benefit Administrators now owns 606 shares of the biopharmaceutical company’s stock valued at $37,000 after acquiring an additional 164 shares during the last quarter. Moody National Bank Trust Division lifted its holdings in shares of Incyte by 1.3% in the 2nd quarter. Moody National Bank Trust Division now owns 14,199 shares of the biopharmaceutical company’s stock valued at $861,000 after purchasing an additional 179 shares during the last quarter. Ballentine Partners LLC boosted its position in shares of Incyte by 4.0% in the 2nd quarter. Ballentine Partners LLC now owns 4,727 shares of the biopharmaceutical company’s stock valued at $287,000 after purchasing an additional 182 shares during the period. 180 Wealth Advisors LLC boosted its position in shares of Incyte by 4.5% in the 1st quarter. 180 Wealth Advisors LLC now owns 4,764 shares of the biopharmaceutical company’s stock valued at $271,000 after purchasing an additional 204 shares during the period. Finally, Empirical Finance LLC grew its stake in Incyte by 3.7% during the 1st quarter. Empirical Finance LLC now owns 6,395 shares of the biopharmaceutical company’s stock worth $364,000 after buying an additional 230 shares during the last quarter. Hedge funds and other institutional investors own 96.97% of the company’s stock.

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.