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

Incyte Co. (NASDAQ:INCY) insider Thomas Tray sold 650 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $70.64, for a total transaction of $45,916.00. Following the completion of the sale, the insider now directly owns 23,962 shares in the company, valued at $1,692,675.68. This trade represents a 2.64 % 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 the SEC website.

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 value of $45,051.50.

Incyte Trading Down 0.7 %

NASDAQ:INCY opened at $67.06 on Friday. The stock has a market capitalization of $12.92 billion, a price-to-earnings ratio of 479.03, a PEG ratio of 8.36 and a beta of 0.69. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01. The firm has a 50 day moving average of $72.36 and a 200 day moving average of $66.49.

Incyte (NASDAQ:INCY) last posted its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the previous year, the business earned $0.91 EPS. The firm’s revenue for the quarter was up 23.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Incyte Co. will post 0.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

INCY has been the topic of several research analyst reports. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research report on Tuesday, November 19th. Wells Fargo & Company raised their price target on shares of Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday. Morgan Stanley boosted their price objective on shares of Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their target price on shares of Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Bank of America upgraded Incyte from a “neutral” rating to a “buy” rating and boosted their price target for the company from $68.00 to $90.00 in a report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $76.29.

Institutional Investors Weigh In On Incyte

A number of large investors have recently modified their holdings of INCY. Orion Portfolio Solutions LLC acquired a new position in Incyte during the 3rd quarter valued at approximately $770,000. Greenwood Capital Associates LLC acquired a new position in shares of Incyte in the 3rd quarter valued at $433,000. Tri Ri Asset Management Corp purchased a new position in Incyte in the 3rd quarter worth $3,292,000. Andra AP fonden lifted its position in Incyte by 35.2% during the 2nd quarter. Andra AP fonden now owns 247,800 shares of the biopharmaceutical company’s stock worth $15,022,000 after acquiring an additional 64,500 shares during the period. Finally, Cypress Capital Group purchased a new stake in Incyte during the 3rd quarter valued at about $971,000. 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.