Insider Selling: Incyte Co. (NASDAQ:INCY) Insider Sells 650 Shares of Stock

Incyte Co. (NASDAQ:INCY) insider Thomas Tray sold 650 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $69.31, for a total transaction of $45,051.50. Following the sale, the insider now directly owns 23,312 shares of the company’s stock, valued at $1,615,754.72. This represents a 2.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Thomas Tray also recently made the following trade(s):

• On Friday, December 13th, Thomas Tray sold 650 shares of Incyte stock. The stock was sold at an average price of $70.64, for a total transaction of $45,916.00.

Incyte Trading Down 0.7 %

INCY traded down $0.50 during trading on Tuesday, reaching $69.30. 504,475 shares of the company’s stock were exchanged, compared to its average volume of 2,331,509. Incyte Co. has a one year low of $50.35 and a one year high of $83.95. 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 stock has a market capitalization of $13.35 billion, a PE ratio of 494.64, a price-to-earnings-growth ratio of 8.36 and a beta of 0.69. The firm has a fifty day moving average price of $72.22 and a two-hundred day moving average price of $66.40.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.12). The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. Incyte’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same period last year, the company earned $0.91 EPS. As a group, equities research analysts forecast that Incyte Co. will post 0.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

INCY has been the topic of several analyst reports. Truist Financial reissued a “hold” rating and set a $74.00 price target (down from $83.00) on shares of Incyte in a research report on Wednesday, September 18th. Oppenheimer lifted their price objective on shares of Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Guggenheim upped their target price on shares of Incyte from $86.00 to $92.00 and gave the company a “buy” rating in a report on Monday, September 16th. Wolfe Research initiated coverage on Incyte in a report on Tuesday, October 1st. They set an “outperform” rating and a $84.00 price target for the company. Finally, William Blair restated an “outperform” rating on shares of Incyte in a research note on Friday. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $76.18.

Institutional Investors Weigh In On Incyte

Several institutional investors have recently added to or reduced their stakes in INCY. Raymond James & Associates grew its stake in Incyte by 783.4% in the 2nd quarter. Raymond James & Associates now owns 34,790 shares of the biopharmaceutical company’s stock worth $2,109,000 after buying an additional 30,852 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in shares of Incyte by 4.1% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 25,213 shares of the biopharmaceutical company’s stock valued at $1,528,000 after buying an additional 997 shares during the period. Dakota Wealth Management bought a new position in Incyte in the 2nd quarter worth $1,063,000. Pallas Capital Advisors LLC purchased a new stake in Incyte in the second quarter worth about $210,000. Finally, MFA Wealth Advisors LLC purchased a new stake in Incyte in the second quarter worth $26,000. 96.97% of the stock is owned by hedge funds and other 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.