Insider Selling: Incyte Co. (NASDAQ:INCY) EVP Sells $1,340,735.83 in Stock

Incyte Co. (NASDAQ:INCY) EVP Barry P. Flannelly sold 19,807 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $67.69, for a total value of $1,340,735.83. Following the transaction, the executive vice president now owns 33,567 shares in the company, valued at approximately $2,272,150.23. This represents a 37.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Incyte Stock Performance

Shares of Incyte stock opened at $60.58 on Friday. The firm’s 50-day moving average is $70.78 and its 200 day moving average is $70.13. The stock has a market cap of $11.72 billion, a price-to-earnings ratio of 224.38, a PEG ratio of 0.41 and a beta of 0.76. Incyte Co. has a 1 year low of $50.35 and a 1 year high of $83.95. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.94.

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

Institutional Investors Weigh In On Incyte

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System lifted its holdings in shares of Incyte by 0.8% during the 4th quarter. California State Teachers Retirement System now owns 241,033 shares of the biopharmaceutical company’s stock valued at $16,648,000 after buying an additional 1,833 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Incyte by 315.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 47,884 shares of the biopharmaceutical company’s stock valued at $3,307,000 after acquiring an additional 36,351 shares during the period. NorthCrest Asset Manangement LLC boosted its position in Incyte by 22.6% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 7,982 shares of the biopharmaceutical company’s stock worth $551,000 after purchasing an additional 1,470 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new position in Incyte in the fourth quarter worth about $3,919,000. Finally, Siemens Fonds Invest GmbH bought a new stake in shares of Incyte during the 4th quarter valued at about $401,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. JMP Securities reissued a “market perform” rating on shares of Incyte in a research note on Tuesday, February 11th. Cantor Fitzgerald restated a “neutral” rating on shares of Incyte in a report on Friday, January 10th. William Blair cut shares of Incyte from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Wells Fargo & Company boosted their price target on shares of Incyte from $68.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. Finally, Stifel Nicolaus raised their price objective on shares of Incyte from $75.00 to $77.00 and gave the stock a “hold” rating in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $75.13.

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.