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

Incyte Co. (NASDAQ:INCY) insider Thomas Tray sold 650 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $70.64, for a total value of $45,916.00. Following the sale, the insider now owns 23,962 shares in the company, valued at approximately $1,692,675.68. This trade represents a 2.64 % 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 link.

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 Stock Down 2.7 %

NASDAQ:INCY opened at $67.55 on Thursday. The company’s 50-day simple moving average is $72.33 and its 200-day simple moving average is $66.49. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.82 and a current ratio of 1.87. Incyte Co. has a fifty-two week low of $50.35 and a fifty-two week high of $83.95. The stock has a market capitalization of $13.01 billion, a P/E ratio of 482.53, a P/E/G ratio of 8.36 and a beta of 0.69.

Incyte (NASDAQ:INCY) last announced its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.12). Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter last year, the business earned $0.91 earnings per share. Incyte’s revenue was up 23.8% on a year-over-year basis. On average, equities analysts anticipate that Incyte Co. will post 0.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Incyte

Several institutional investors have recently added to or reduced their stakes in the business. Orion Portfolio Solutions LLC purchased a new position in shares of Incyte in the 3rd quarter valued at approximately $770,000. Greenwood Capital Associates LLC acquired a new stake in shares of Incyte during the third quarter worth $433,000. Tri Ri Asset Management Corp purchased a new stake in Incyte during the 3rd quarter valued at about $3,292,000. Andra AP fonden boosted its position in Incyte by 35.2% in the second quarter. Andra AP fonden now owns 247,800 shares of the biopharmaceutical company’s stock valued at $15,022,000 after buying an additional 64,500 shares during the last quarter. Finally, Cypress Capital Group acquired a new position in Incyte in the 3rd quarter worth approximately $971,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analysts Set New Price Targets

INCY has been the topic of several analyst reports. BMO Capital Markets reiterated an “underperform” rating and set a $52.00 price target (up from $48.00) on shares of Incyte in a report on Wednesday, October 30th. William Blair reiterated an “outperform” rating on shares of Incyte in a report on Friday, December 13th. Morgan Stanley boosted their price objective on Incyte from $64.00 to $69.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a research note on Tuesday, September 17th. Finally, Bank of America raised shares of Incyte from a “neutral” rating to a “buy” rating and lifted their price target for the company from $68.00 to $90.00 in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $76.18.

About Incyte

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.