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

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 shares were sold at an average price of $72.69, for a total transaction of $897,866.88. Following the completion of the sale, the executive vice president now owns 66,967 shares in the company, valued at $4,867,831.23. This represents a 15.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Incyte Stock Up 0.1 %

Shares of INCY stock opened at $72.59 on Friday. Incyte Co. has a twelve month low of $50.35 and a twelve month high of $83.95. The stock has a market cap of $13.98 billion, a P/E ratio of 518.54, a P/E/G ratio of 0.53 and a beta of 0.71. The stock has a 50 day moving average of $71.76 and a 200 day moving average of $68.33. 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 (NASDAQ:INCY) last posted its 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 firm had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Incyte had a net margin of 0.80% and a negative return on equity of 0.63%. Incyte’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same period last year, the firm earned $0.91 earnings per share. As a group, sell-side analysts expect that Incyte Co. will post 0.39 EPS for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on INCY. Oppenheimer raised their target price on shares of Incyte from $81.00 to $82.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. JMP Securities reissued a “market perform” rating on shares of Incyte in a research report on Tuesday, January 14th. UBS Group started coverage on Incyte in a research note on Tuesday, December 17th. They set a “neutral” rating and a $77.00 target price on the stock. BMO Capital Markets reiterated an “underperform” rating and issued a $52.00 price target (up from $48.00) on shares of Incyte in a research note on Wednesday, October 30th. Finally, StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 13th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $75.71.

Institutional Investors Weigh In On Incyte

Hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in Incyte by 24.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,181,269 shares of the biopharmaceutical company’s stock worth $71,617,000 after purchasing an additional 230,665 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Incyte by 413.2% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 29,494 shares of the biopharmaceutical company’s stock valued at $1,788,000 after buying an additional 23,747 shares in the last quarter. Gabelli Funds LLC grew its stake in Incyte by 7.3% in the 2nd quarter. Gabelli Funds LLC now owns 15,237 shares of the biopharmaceutical company’s stock valued at $924,000 after acquiring an additional 1,037 shares during the period. DRW Securities LLC purchased a new stake in Incyte in the 2nd quarter worth $266,000. Finally, Public Sector Pension Investment Board raised its position in Incyte by 71.5% during the second quarter. Public Sector Pension Investment Board now owns 6,322 shares of the biopharmaceutical company’s stock worth $383,000 after acquiring an additional 2,636 shares during the period. 96.97% of the stock is owned by hedge funds and other institutional investors.

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.