Insider Selling: Incyte Co. (NASDAQ:INCY) EVP Sells 6,043 Shares of Stock

Incyte Co. (NASDAQ:INCY) EVP Vijay K. Iyengar sold 6,043 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $75.38, for a total value of $455,521.34. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Incyte Stock Performance

INCY traded down $0.44 during trading on Tuesday, reaching $72.80. 557,324 shares of the company’s stock were exchanged, compared to its average volume of 2,350,542. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.87 and a quick ratio of 1.82. The company’s fifty day simple moving average is $70.94 and its 200-day simple moving average is $65.34. Incyte Co. has a 1 year low of $50.35 and a 1 year high of $83.95. The stock has a market capitalization of $14.02 billion, a P/E ratio of 523.18, a price-to-earnings-growth ratio of 8.60 and a beta of 0.69.

Incyte (NASDAQ:INCY) last announced its quarterly earnings results on Tuesday, October 29th. The biopharmaceutical company reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 negative return on equity of 0.63% and a net margin of 0.80%. The business’s quarterly revenue was up 23.8% on a year-over-year basis. During the same period last year, the company posted $0.91 earnings per share. As a group, research analysts predict that Incyte Co. will post 0.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. MFA Wealth Advisors LLC purchased a new stake in shares of Incyte during the second quarter worth approximately $26,000. Brooklyn Investment Group purchased a new stake in shares of Incyte during the third quarter worth $30,000. Innealta Capital LLC acquired a new stake in shares of Incyte in the second quarter valued at about $32,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Incyte in the third quarter worth about $33,000. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Incyte during the 2nd quarter worth approximately $36,000. 96.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on INCY. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Incyte in a research report on Tuesday, November 19th. StockNews.com raised Incyte from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 28th. BMO Capital Markets restated an “underperform” rating and set a $52.00 target price (up previously from $48.00) on shares of Incyte in a research note on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on Incyte from $65.00 to $71.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group upped their price objective on Incyte from $63.00 to $70.00 and gave the company 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 given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $77.16.

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.