Incyte Co. (NASDAQ:INCY) Short Interest Update

Incyte Co. (NASDAQ:INCY) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 10,800,000 shares, a decrease of 8.2% from the August 15th total of 11,760,000 shares. Approximately 5.7% of the shares of the company are short sold. Based on an average daily volume of 2,830,000 shares, the short-interest ratio is presently 3.8 days.

Analyst Ratings Changes

INCY has been the topic of a number of recent research reports. Citigroup raised their target price on Incyte from $80.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Bank of America lifted their price objective on shares of Incyte from $66.00 to $68.00 and gave the company a “neutral” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft upped their target price on shares of Incyte from $55.00 to $60.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Truist Financial reiterated a “hold” rating and set a $74.00 price objective (down from $83.00) on shares of Incyte in a research report on Wednesday. Finally, BMO Capital Markets reissued an “underperform” rating and issued a $48.00 price objective (down from $52.00) on shares of Incyte in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $73.24.

Incyte Trading Down 1.9 %

NASDAQ INCY opened at $65.17 on Thursday. The stock has a market cap of $14.63 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 5.03 and a beta of 0.73. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.84 and a current ratio of 1.92. Incyte has a twelve month low of $50.27 and a twelve month high of $70.36. The firm’s 50 day moving average price is $64.23 and its two-hundred day moving average price is $59.70.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Tuesday, July 30th. The biopharmaceutical company reported ($1.82) earnings per share for the quarter, missing the consensus estimate of $0.78 by ($2.60). The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. Incyte had a net margin of 2.52% and a return on equity of 0.75%. Incyte’s revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.77 EPS. Equities analysts anticipate that Incyte will post 0.67 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Barry P. Flannelly sold 8,148 shares of Incyte stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $60.00, for a total value of $488,880.00. Following the completion of the transaction, the executive vice president now directly owns 50,534 shares of the company’s stock, valued at approximately $3,032,040. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Vijay K. Iyengar sold 15,571 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $70.00, for a total transaction of $1,089,970.00. Following the sale, the executive vice president now directly owns 36,701 shares in the company, valued at approximately $2,569,070. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Barry P. Flannelly sold 8,148 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $60.00, for a total value of $488,880.00. Following the transaction, the executive vice president now owns 50,534 shares of the company’s stock, valued at approximately $3,032,040. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,047 shares of company stock valued at $2,225,626. Company insiders own 17.50% of the company’s stock.

Institutional Investors Weigh In On Incyte

Several institutional investors and hedge funds have recently modified their holdings of INCY. Sanctuary Advisors LLC bought a new position in Incyte during the second quarter valued at about $2,738,000. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Incyte by 2,486.8% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 394,646 shares of the biopharmaceutical company’s stock valued at $23,923,000 after acquiring an additional 379,390 shares during the last quarter. Delphi Management Inc. MA bought a new position in shares of Incyte in the 2nd quarter valued at approximately $73,000. Advisory Alpha LLC lifted its holdings in Incyte by 18.9% in the 2nd quarter. Advisory Alpha LLC now owns 6,678 shares of the biopharmaceutical company’s stock worth $405,000 after purchasing an additional 1,062 shares during the last quarter. Finally, Truist Financial Corp bought a new stake in Incyte during the second quarter worth approximately $1,122,000. Institutional investors and hedge funds 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.