Insider Selling: Incyte Co. (NASDAQ:INCY) EVP Sells $41,924.01 in Stock

Incyte Co. (NASDAQ:INCY) EVP Sheila A. Denton sold 599 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $69.99, for a total value of $41,924.01. Following the completion of the sale, the executive vice president now owns 25,848 shares in the company, valued at $1,809,101.52. This trade represents a 2.26 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Incyte Stock Up 1.0 %

Shares of NASDAQ:INCY opened at $70.79 on Friday. The business’s 50 day simple moving average is $71.82 and its two-hundred day simple moving average is $70.16. The firm has a market cap of $13.70 billion, a P/E ratio of 262.19, a PEG ratio of 0.41 and a beta of 0.76. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.94 and a current ratio of 1.97. Incyte Co. has a 52-week low of $50.35 and a 52-week high of $83.95.

Incyte (NASDAQ:INCY) last issued its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. As a group, research analysts forecast that Incyte Co. will post 4.86 EPS for the current fiscal year.

Analysts Set New Price Targets

INCY has been the topic of a number of analyst reports. Citigroup reduced their price target on Incyte from $97.00 to $88.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. JMP Securities restated a “market perform” rating on shares of Incyte in a research report on Tuesday, February 11th. Stifel Nicolaus upped their target price on Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a research report on Monday, February 10th. UBS Group began coverage on Incyte in a research report on Tuesday, December 17th. They set a “neutral” rating and a $77.00 target price on the stock. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $75.25.

Institutional Trading of Incyte

Institutional investors and hedge funds have recently modified their holdings of the stock. Quintet Private Bank Europe S.A. purchased a new stake in shares of Incyte in the fourth quarter worth approximately $26,000. Global X Japan Co. Ltd. raised its stake in shares of Incyte by 144.7% in the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 230 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Incyte in the fourth quarter worth approximately $30,000. Brooklyn Investment Group purchased a new stake in shares of Incyte in the third quarter worth approximately $30,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Incyte in the third quarter worth approximately $33,000. 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.