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

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

Incyte Trading Down 1.4 %

INCY opened at $72.41 on Thursday. Incyte Co. has a 1-year low of $50.35 and a 1-year high of $83.95. The stock has a market capitalization of $13.95 billion, a PE ratio of 517.25, a PEG ratio of 0.52 and a beta of 0.71. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average price of $72.02 and a two-hundred day moving average price of $68.27.

Incyte (NASDAQ:INCY) last issued its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). The company had revenue of $1.14 billion during 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 in the prior year, the business earned $0.91 EPS. As a group, equities analysts anticipate that Incyte Co. will post 0.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Incyte

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Brooklyn Investment Group bought a new stake in Incyte during the 3rd quarter worth about $30,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Incyte during the 3rd quarter worth approximately $33,000. Cromwell Holdings LLC raised its stake in shares of Incyte by 101.1% during the third quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 283 shares during the last quarter. Groupama Asset Managment lifted its holdings in Incyte by 11.4% in the third quarter. Groupama Asset Managment now owns 59,597 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 6,105 shares during the period. Finally, Blue Trust Inc. lifted its holdings in Incyte by 124.6% in the fourth quarter. Blue Trust Inc. now owns 593 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 329 shares during the period. Institutional investors own 96.97% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Bank of America raised Incyte from a “neutral” rating to a “buy” rating and raised their target price for the stock from $68.00 to $90.00 in a research report on Tuesday, October 29th. The Goldman Sachs Group lifted their target price on shares of Incyte from $63.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. StockNews.com lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 13th. Citigroup lifted their price objective on Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, William Blair reissued an “outperform” rating on shares of Incyte in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the 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.