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

Incyte Co. (NASDAQ:INCY) EVP Steven H. Stein sold 12,352 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 66,967 shares in the company, valued at approximately $4,867,831.23. This trade represents a 15.57 % 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 link.

Incyte Price Performance

Shares of INCY opened at $72.53 on Friday. The firm has a market cap of $13.97 billion, a price-to-earnings ratio of 518.11, a PEG ratio of 0.53 and a beta of 0.71. The stock has a 50 day moving average of $71.86 and a 200-day moving average of $68.30. The company has a current ratio of 1.87, a quick ratio of 1.82 and a debt-to-equity ratio of 0.01. Incyte Co. has a 52 week low of $50.35 and a 52 week high of $83.95.

Incyte (NASDAQ:INCY) last issued its earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.19 by ($0.12). The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.08 billion. Incyte had a negative return on equity of 0.63% and a net margin of 0.80%. Incyte’s revenue was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.91 EPS. As a group, analysts forecast that Incyte Co. will post 0.4 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in INCY. Brooklyn Investment Group acquired a new position in shares of Incyte in the 3rd quarter worth approximately $30,000. R Squared Ltd acquired a new position in Incyte during the 4th quarter valued at approximately $30,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Incyte during the 3rd quarter valued at approximately $33,000. Cromwell Holdings LLC boosted its position in Incyte by 101.1% during the 3rd quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock valued at $37,000 after purchasing an additional 283 shares during the period. Finally, Groupama Asset Managment boosted its position in Incyte by 11.4% during the 3rd quarter. Groupama Asset Managment now owns 59,597 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 6,105 shares during the period. Institutional investors and hedge funds own 96.97% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a report on Friday, January 10th. Wells Fargo & Company raised their target price on Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. UBS Group initiated coverage on Incyte in a report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 target price on the stock. Citigroup raised their target price on Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, JMP Securities reiterated a “market perform” rating on shares of Incyte in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Incyte has an average rating of “Hold” and a consensus price target of $75.71.

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.