Barry P. Flannelly Sells 19,807 Shares of Incyte Co. (NASDAQ:INCY) Stock

Incyte Co. (NASDAQ:INCY) EVP Barry P. Flannelly sold 19,807 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $67.69, for a total transaction of $1,340,735.83. Following the completion of the sale, the executive vice president now directly owns 33,567 shares in the company, valued at $2,272,150.23. This represents a 37.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Incyte Stock Performance

INCY stock opened at $60.34 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94. Incyte Co. has a 1 year low of $50.35 and a 1 year high of $83.95. The company has a market cap of $11.68 billion, a P/E ratio of 223.49, a price-to-earnings-growth ratio of 0.41 and a beta of 0.76. The stock’s fifty day moving average price is $71.03 and its 200-day moving average price is $70.20.

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

Analyst Upgrades and Downgrades

INCY has been the topic of a number of recent research reports. Guggenheim cut shares of Incyte from a “buy” rating to a “neutral” rating and set a $92.00 price objective on the stock. in a report on Tuesday. William Blair downgraded Incyte from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Stifel Nicolaus lifted their price objective on Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a research note on Monday, February 10th. UBS Group assumed coverage on Incyte in a research note on Tuesday, December 17th. They issued a “neutral” rating and a $77.00 target price on the stock. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Incyte in a research report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Incyte has a consensus rating of “Hold” and an average target price of $75.13.

Hedge Funds Weigh In On Incyte

Institutional investors and hedge funds have recently made changes to their positions in the business. Retirement Systems of Alabama raised its position in Incyte by 0.4% in the fourth quarter. Retirement Systems of Alabama now owns 34,620 shares of the biopharmaceutical company’s stock worth $2,391,000 after acquiring an additional 139 shares during the period. Nissay Asset Management Corp Japan ADV increased its stake in shares of Incyte by 0.7% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 20,371 shares of the biopharmaceutical company’s stock worth $1,410,000 after purchasing an additional 150 shares in the last quarter. Trust Point Inc. raised its holdings in Incyte by 5.0% in the 4th quarter. Trust Point Inc. now owns 3,282 shares of the biopharmaceutical company’s stock worth $227,000 after purchasing an additional 156 shares during the period. Bank of Nova Scotia lifted its position in Incyte by 0.8% during the fourth quarter. Bank of Nova Scotia now owns 21,694 shares of the biopharmaceutical company’s stock valued at $1,498,000 after purchasing an additional 171 shares in the last quarter. Finally, Mather Group LLC. grew its holdings in Incyte by 26.4% during the fourth quarter. Mather Group LLC. now owns 828 shares of the biopharmaceutical company’s stock valued at $57,000 after purchasing an additional 173 shares during the period. Hedge funds and other institutional investors own 96.97% of the company’s stock.

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.