Incyte Co. (NASDAQ:INCY) EVP Sells $1,042,090.83 in Stock

Incyte Co. (NASDAQ:INCY) EVP Sheila A. Denton sold 14,069 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $74.07, for a total transaction of $1,042,090.83. Following the sale, the executive vice president now directly owns 25,848 shares in the company, valued at approximately $1,914,561.36. This trade represents a 35.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Incyte Price Performance

Shares of NASDAQ:INCY opened at $73.50 on Monday. 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 stock has a market capitalization of $14.22 billion, a P/E ratio of 272.23, a P/E/G ratio of 0.41 and a beta of 0.70. The business has a 50-day moving average of $71.77 and a two-hundred day moving average of $69.96. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95.

Incyte (NASDAQ:INCY) last posted its 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%. On average, equities research analysts predict that Incyte Co. will post 4.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. UBS Group initiated coverage on Incyte in a report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price target on the stock. Cantor Fitzgerald reissued a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. Citigroup decreased their price target on shares of Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. StockNews.com downgraded shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company lifted their target price on shares of Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Incyte presently has a consensus rating of “Hold” and an average target price of $75.25.

Institutional Trading of Incyte

Several large investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its position in Incyte by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 4,040,086 shares of the biopharmaceutical company’s stock worth $278,346,000 after acquiring an additional 103,910 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Incyte by 29.7% in the fourth quarter. AQR Capital Management LLC now owns 3,502,813 shares of the biopharmaceutical company’s stock worth $241,519,000 after purchasing an additional 801,090 shares during the period. LSV Asset Management lifted its position in shares of Incyte by 18.6% during the 4th quarter. LSV Asset Management now owns 3,467,490 shares of the biopharmaceutical company’s stock worth $239,500,000 after purchasing an additional 544,080 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Incyte during the 3rd quarter worth about $156,611,000. Finally, Bellevue Group AG boosted its stake in Incyte by 0.3% during the 4th quarter. Bellevue Group AG now owns 2,157,478 shares of the biopharmaceutical company’s stock valued at $149,017,000 after purchasing an additional 6,927 shares during the period. 96.97% of the stock is owned by 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.