Incyte Co. (NASDAQ:INCY) EVP Barry P. Flannelly Sells 3,680 Shares

Incyte Co. (NASDAQ:INCY) EVP Barry P. Flannelly sold 3,680 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $79.68, for a total value of $293,222.40. Following the transaction, the executive vice president now directly owns 58,042 shares in the company, valued at approximately $4,624,786.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Incyte Stock Up 1.3 %

Shares of INCY opened at $83.38 on Friday. The firm has a 50 day simple moving average of $67.48 and a two-hundred day simple moving average of $62.79. The company has a market cap of $16.06 billion, a P/E ratio of 595.61, a P/E/G ratio of 9.33 and a beta of 0.71. Incyte Co. has a one year low of $50.35 and a one year high of $83.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82.

Incyte (NASDAQ:INCY) last released its quarterly earnings data on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.12). The business 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 quarterly revenue was up 23.8% compared to the same quarter last year. During the same period last year, the business earned $0.91 earnings per share. Research analysts forecast that Incyte Co. will post 0.4 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on INCY shares. Wells Fargo & Company boosted their target price on Incyte from $62.00 to $68.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Guggenheim upped their price objective on shares of Incyte from $86.00 to $92.00 and gave the company a “buy” rating in a report on Monday, September 16th. Bank of America upgraded shares of 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 note on Tuesday, October 29th. JMP Securities reiterated a “market perform” rating on shares of Incyte in a research note on Tuesday, September 17th. Finally, The Goldman Sachs Group raised their price objective on shares of Incyte from $63.00 to $70.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $76.74.

Hedge Funds Weigh In On Incyte

Institutional investors have recently added to or reduced their stakes in the stock. ProShare Advisors LLC increased its holdings in shares of Incyte by 14.4% during the first quarter. ProShare Advisors LLC now owns 63,086 shares of the biopharmaceutical company’s stock worth $3,594,000 after buying an additional 7,925 shares in the last quarter. Kennedy Capital Management LLC acquired a new position in Incyte in the 1st quarter worth about $463,000. Magnetar Financial LLC bought a new position in Incyte in the first quarter valued at about $1,817,000. Greenwood Capital Associates LLC acquired a new stake in shares of Incyte during the third quarter valued at about $433,000. Finally, Andra AP fonden grew its holdings in shares of Incyte by 35.2% during the second quarter. Andra AP fonden now owns 247,800 shares of the biopharmaceutical company’s stock worth $15,022,000 after purchasing an additional 64,500 shares during the last quarter. 96.97% of the stock is currently owned by institutional investors and hedge funds.

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.