Incyte Co. (NASDAQ:INCY) EVP Sells $488,880.00 in Stock

Incyte Co. (NASDAQ:INCY) EVP Barry P. Flannelly sold 8,148 shares of the company’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $60.00, for a total transaction of $488,880.00. Following the sale, the executive vice president now owns 50,534 shares of the company’s stock, valued at approximately $3,032,040. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Incyte Stock Performance

Shares of Incyte stock opened at $62.29 on Friday. The stock’s 50-day moving average is $58.72 and its 200-day moving average is $58.59. Incyte Co. has a one year low of $50.27 and a one year high of $67.36. The firm has a market cap of $13.99 billion, a price-to-earnings ratio of 18.88, a price-to-earnings-growth ratio of 1.31 and a beta of 0.73. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.47 and a quick ratio of 3.43.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, April 30th. The biopharmaceutical company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.31). Incyte had a net margin of 19.78% and a return on equity of 12.83%. The company had revenue of $880.89 million for the quarter, compared to analyst estimates of $935.85 million. Equities analysts predict that Incyte Co. will post 3.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Incyte

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Incyte during the 4th quarter worth $123,253,000. LSV Asset Management raised its holdings in shares of Incyte by 119.6% during the 4th quarter. LSV Asset Management now owns 2,691,827 shares of the biopharmaceutical company’s stock worth $169,020,000 after buying an additional 1,465,792 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Incyte by 2,858.4% during the 4th quarter. Pacer Advisors Inc. now owns 1,025,784 shares of the biopharmaceutical company’s stock worth $64,409,000 after buying an additional 991,110 shares during the last quarter. KBC Group NV grew its position in Incyte by 842.2% in the fourth quarter. KBC Group NV now owns 955,749 shares of the biopharmaceutical company’s stock valued at $60,011,000 after acquiring an additional 854,311 shares during the last quarter. Finally, Swedbank AB acquired a new position in Incyte during the first quarter worth about $37,440,000. 96.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on INCY. Oppenheimer dropped their price objective on Incyte from $92.00 to $84.00 and set an “outperform” rating for the company in a report on Wednesday, April 24th. StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 2nd. TD Cowen cut their price target on shares of Incyte from $88.00 to $80.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a report on Tuesday, June 18th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $83.00 target price (down previously from $84.00) on shares of Incyte in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $73.44.

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.