Steven H. Stein Sells 12,352 Shares of Incyte Co. (NASDAQ:INCY) Stock

Incyte Co. (NASDAQ:INCY) EVP Steven H. Stein sold 12,352 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $72.69, for a total value of $897,866.88. Following the transaction, the executive vice president now owns 66,967 shares of the company’s stock, valued at $4,867,831.23. The trade was a 15.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Incyte Trading Down 1.4 %

Shares of NASDAQ:INCY opened at $72.41 on Thursday. The company’s 50-day moving average price is $72.02 and its two-hundred day moving average price is $68.27. Incyte Co. has a one year low of $50.35 and a one year high of $83.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82. The stock has a market capitalization of $13.95 billion, a PE ratio of 517.25, a price-to-earnings-growth ratio of 0.52 and a beta of 0.71.

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

Hedge Funds Weigh In On Incyte

Hedge funds and other institutional investors have recently made changes to their positions in the company. Haverford Trust Co grew its position in shares of Incyte by 1.8% in the 3rd quarter. Haverford Trust Co now owns 7,796 shares of the biopharmaceutical company’s stock valued at $515,000 after acquiring an additional 135 shares during the period. V Square Quantitative Management LLC grew its holdings in Incyte by 4.1% during the third quarter. V Square Quantitative Management LLC now owns 3,963 shares of the biopharmaceutical company’s stock worth $262,000 after purchasing an additional 155 shares during the period. Tectonic Advisors LLC increased its position in Incyte by 1.6% during the third quarter. Tectonic Advisors LLC now owns 12,390 shares of the biopharmaceutical company’s stock worth $819,000 after buying an additional 190 shares during the last quarter. 180 Wealth Advisors LLC raised its stake in Incyte by 3.9% in the fourth quarter. 180 Wealth Advisors LLC now owns 5,231 shares of the biopharmaceutical company’s stock valued at $361,000 after buying an additional 195 shares during the period. Finally, Burney Co. lifted its position in shares of Incyte by 7.3% in the fourth quarter. Burney Co. now owns 3,262 shares of the biopharmaceutical company’s stock valued at $225,000 after buying an additional 223 shares during the last quarter. 96.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on INCY. JPMorgan Chase & Co. lifted their price objective on shares of Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Bank of America raised shares of 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. StockNews.com downgraded Incyte from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 13th. BMO Capital Markets reissued an “underperform” rating and issued a $52.00 target price (up from $48.00) on shares of Incyte in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company raised their price target on Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, eleven have given 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 an average target price of $76.29.

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.