Incyte Co. (NASDAQ:INCY) Short Interest Update

Incyte Co. (NASDAQ:INCY) saw a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 5,850,000 shares, a decline of 29.7% from the February 13th total of 8,320,000 shares. Currently, 3.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,700,000 shares, the days-to-cover ratio is presently 3.4 days.

Insider Buying and Selling

In other news, EVP Steven H. Stein sold 12,352 shares of Incyte 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 transaction, the executive vice president now owns 66,967 shares in the company, valued at approximately $4,867,831.23. The trade was a 15.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sheila A. Denton sold 599 shares of the business’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 directly owns 25,848 shares of the company’s stock, valued at approximately $1,809,101.52. This trade represents a 2.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,020 shares of company stock worth $1,981,882 in the last quarter. 17.60% of the stock is owned by insiders.

Institutional Trading of Incyte

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Quintet Private Bank Europe S.A. bought a new stake in Incyte during the 4th quarter valued at about $26,000. Global X Japan Co. Ltd. grew its holdings in shares of Incyte by 144.7% during the fourth quarter. Global X Japan Co. Ltd. now owns 389 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 230 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Incyte during the third quarter valued at approximately $30,000. R Squared Ltd purchased a new position in Incyte in the 4th quarter worth approximately $30,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Incyte in the 3rd quarter worth approximately $33,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on INCY. Wells Fargo & Company increased their price objective on Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, December 19th. Stifel Nicolaus increased their price target on shares of Incyte from $75.00 to $77.00 and gave the company a “hold” rating in a research report on Monday, February 10th. StockNews.com lowered shares of Incyte from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 12th. UBS Group initiated coverage on shares of Incyte in a research note on Tuesday, December 17th. They set a “neutral” rating and a $77.00 price objective for the company. Finally, Citigroup dropped their target price on shares of Incyte from $97.00 to $88.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Incyte currently has a consensus rating of “Hold” and a consensus target price of $75.25.

Incyte Stock Down 8.6 %

Shares of INCY stock traded down $5.85 during mid-day trading on Monday, reaching $62.01. 5,175,556 shares of the company’s stock traded hands, compared to its average volume of 2,222,390. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The company’s 50-day moving average price is $71.55 and its 200-day moving average price is $70.31. The company has a market cap of $12.00 billion, a P/E ratio of 229.68, a P/E/G ratio of 0.41 and a beta of 0.76. Incyte has a 12 month low of $50.35 and a 12 month high of $83.95.

Incyte (NASDAQ:INCY) last announced its quarterly earnings data on Monday, February 10th. The biopharmaceutical company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.48). Incyte had a return on equity of 0.05% and a net margin of 0.77%. On average, equities analysts expect that Incyte will post 4.86 earnings per share for the current fiscal year.

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.