Incyte Co. (NASDAQ:INCY) EVP Sells $1,340,735.83 in Stock

Incyte Co. (NASDAQ:INCY) EVP Barry P. Flannelly sold 19,807 shares of Incyte stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $67.69, for a total value of $1,340,735.83. Following the completion of the sale, the executive vice president now directly owns 33,567 shares of the company’s stock, valued at approximately $2,272,150.23. This trade represents a 37.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Incyte Price Performance

NASDAQ:INCY traded down $2.01 during mid-day trading on Tuesday, reaching $60.00. The stock had a trading volume of 3,343,735 shares, compared to its average volume of 2,247,282. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. Incyte Co. has a one year low of $50.35 and a one year high of $83.95. The stock has a market capitalization of $11.61 billion, a P/E ratio of 222.23, a P/E/G ratio of 0.41 and a beta of 0.76. The firm has a 50 day moving average price of $71.55 and a two-hundred day moving average price of $70.31.

Incyte (NASDAQ:INCY) last released its quarterly 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 net margin of 0.77% and a return on equity of 0.05%. As a group, analysts expect that Incyte Co. will post 4.86 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have commented on INCY. Stifel Nicolaus raised their target price on Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a research note on Monday, February 10th. Wells Fargo & Company raised their target price on Incyte from $68.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 19th. UBS Group began coverage on Incyte in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 target price for the company. William Blair downgraded Incyte from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Finally, StockNews.com downgraded Incyte from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Incyte presently has a consensus rating of “Hold” and a consensus target price of $75.13.

Institutional Investors Weigh In On Incyte

Several hedge funds have recently added to or reduced their stakes in the stock. Retirement Systems of Alabama increased its position in Incyte by 0.4% during the fourth quarter. Retirement Systems of Alabama now owns 34,620 shares of the biopharmaceutical company’s stock valued at $2,391,000 after acquiring an additional 139 shares during the last quarter. Nissay Asset Management Corp Japan ADV increased its position in Incyte by 0.7% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 20,371 shares of the biopharmaceutical company’s stock worth $1,410,000 after buying an additional 150 shares in the last quarter. Trust Point Inc. increased its position in Incyte by 5.0% in the fourth quarter. Trust Point Inc. now owns 3,282 shares of the biopharmaceutical company’s stock worth $227,000 after buying an additional 156 shares in the last quarter. Bank of Nova Scotia increased its position in Incyte by 0.8% in the fourth quarter. Bank of Nova Scotia now owns 21,694 shares of the biopharmaceutical company’s stock worth $1,498,000 after buying an additional 171 shares in the last quarter. Finally, Mather Group LLC. increased its position in Incyte by 26.4% in the fourth quarter. Mather Group LLC. now owns 828 shares of the biopharmaceutical company’s stock worth $57,000 after buying an additional 173 shares in the last quarter. 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.