Insider Selling: Incyte Co. (NASDAQ:INCY) Insider Sells $45,051.50 in Stock

Incyte Co. (NASDAQ:INCY) insider Thomas Tray sold 650 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $69.31, for a total transaction of $45,051.50. Following the completion of the transaction, the insider now owns 23,312 shares in the company, valued at $1,615,754.72. This represents a 2.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Thomas Tray also recently made the following trade(s):

• On Friday, December 13th, Thomas Tray sold 650 shares of Incyte stock. The stock was sold at an average price of $70.64, for a total value of $45,916.00.

Incyte Stock Performance

Shares of INCY stock opened at $67.06 on Friday. The firm has a market cap of $12.92 billion, a PE ratio of 479.03, a P/E/G ratio of 8.36 and a beta of 0.69. Incyte Co. has a 12 month low of $50.35 and a 12 month high of $83.95. The company’s fifty day simple moving average is $72.36 and its 200-day simple moving average is $66.49. The company has a quick ratio of 1.82, a current ratio of 1.87 and a debt-to-equity ratio of 0.01.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Raymond James & Associates grew its stake in shares of Incyte by 783.4% in the second quarter. Raymond James & Associates now owns 34,790 shares of the biopharmaceutical company’s stock valued at $2,109,000 after buying an additional 30,852 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in Incyte by 4.1% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 25,213 shares of the biopharmaceutical company’s stock valued at $1,528,000 after acquiring an additional 997 shares during the last quarter. Dakota Wealth Management bought a new position in shares of Incyte in the 2nd quarter valued at about $1,063,000. Pallas Capital Advisors LLC acquired a new position in shares of Incyte during the 2nd quarter worth about $210,000. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Incyte in the 2nd quarter valued at about $26,000. Institutional investors and hedge funds own 96.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. StockNews.com lowered Incyte from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 13th. Oppenheimer upped 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. JPMorgan Chase & Co. lifted their price target 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. Citigroup boosted their price target on shares of Incyte from $92.00 to $97.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, UBS Group began coverage on Incyte in a research note on Tuesday. They set a “neutral” rating and a $77.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $76.29.

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.