Incyte Co. (NASDAQ:INCY) EVP Vijay K. Iyengar Sells 6,043 Shares of Stock

Incyte Co. (NASDAQ:INCY) EVP Vijay K. Iyengar sold 6,043 shares of Incyte stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $75.38, for a total value of $455,521.34. Following the sale, the executive vice president now owns 30,658 shares of the company’s stock, valued at approximately $2,311,000.04. This trade represents a 16.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Incyte Stock Down 1.7 %

Shares of NASDAQ:INCY opened at $72.03 on Wednesday. The stock’s 50-day moving average is $71.11 and its 200 day moving average is $65.44. The company has a market cap of $13.88 billion, a PE ratio of 514.54, a P/E/G ratio of 8.44 and a beta of 0.69. 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 Co. has a 1 year low of $50.35 and a 1 year high of $83.95.

Incyte (NASDAQ:INCY) last released its quarterly earnings results 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 company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. The business’s revenue was up 23.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.91 EPS. Sell-side analysts anticipate that Incyte Co. will post 0.4 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on INCY. Cantor Fitzgerald reiterated a “neutral” rating on shares of Incyte in a research report on Tuesday, November 19th. JPMorgan Chase & Co. upped their target price on shares of Incyte from $65.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. JMP Securities restated a “market perform” rating on shares of Incyte in a research report on Tuesday, September 17th. StockNews.com raised Incyte from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 28th. Finally, BMO Capital Markets reissued an “underperform” rating and set a $52.00 price objective (up from $48.00) on shares of Incyte in a 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 given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $77.16.

Institutional Trading of Incyte

Several institutional investors and hedge funds have recently bought and sold shares of the stock. MFA Wealth Advisors LLC bought a new position in shares of Incyte in the 2nd quarter worth approximately $26,000. Brooklyn Investment Group bought a new position in Incyte in the third quarter worth $30,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Incyte during the third quarter valued at $33,000. Innealta Capital LLC bought a new stake in shares of Incyte during the 2nd quarter valued at $32,000. Finally, Cromwell Holdings LLC grew its position in shares of Incyte by 101.1% in the 3rd quarter. Cromwell Holdings LLC now owns 563 shares of the biopharmaceutical company’s stock worth $37,000 after buying an additional 283 shares during the period. 96.97% of the stock is currently 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.