Sheila A. Denton Sells 14,069 Shares of Incyte Co. (NASDAQ:INCY) Stock

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

Incyte Stock Up 0.4 %

NASDAQ INCY traded up $0.32 during trading hours on Friday, hitting $73.50. 1,489,085 shares of the company were exchanged, compared to its average volume of 1,608,318. The company has a 50 day moving average of $71.68 and a two-hundred day moving average of $69.75. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The firm has a market cap of $14.22 billion, a price-to-earnings ratio of 272.23, a PEG ratio of 0.41 and a beta of 0.70. Incyte Co. has a 52-week low of $50.35 and a 52-week high of $83.95.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. Equities research analysts anticipate that Incyte Co. will post 4.86 earnings per share for the current year.

Hedge Funds Weigh In On Incyte

A number of institutional investors and hedge funds have recently modified their holdings of the company. Quintet Private Bank Europe S.A. purchased a new stake in Incyte during the 4th quarter worth about $26,000. Global X Japan Co. Ltd. lifted its stake in Incyte by 144.7% during the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 230 shares during the last quarter. Brooklyn Investment Group acquired a new position in Incyte in the third quarter valued at approximately $30,000. R Squared Ltd purchased a new position in Incyte in the fourth quarter valued at approximately $30,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Incyte in the third quarter valued at approximately $33,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on INCY shares. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. Wells Fargo & Company increased their price target 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. UBS Group assumed coverage on shares of Incyte in a research report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price target on the stock. William Blair reiterated an “outperform” rating on shares of Incyte in a research report on Friday, December 13th. Finally, Royal Bank of Canada decreased their price target on Incyte from $70.00 to $68.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Incyte currently has an average rating of “Hold” and an average target price of $75.25.

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.