Insider Selling: Incyte Corporation (NASDAQ:INCY) EVP Sells 14,952 Shares of Stock

Incyte Corporation (NASDAQ:INCY - Get Free Report) EVP Steven H. Stein sold 14,952 shares of the business's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $68.47, for a total transaction of $1,023,763.44. Following the sale, the executive vice president owned 97,466 shares of the company's stock, valued at $6,673,497.02. This trade represents a 13.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Incyte Price Performance

INCY stock traded down $0.32 during trading on Thursday, hitting $68.91. 281,702 shares of the company's stock traded hands, compared to its average volume of 1,941,917. Incyte Corporation has a 52 week low of $53.56 and a 52 week high of $83.95. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.00 and a current ratio of 2.04. The business has a fifty day simple moving average of $66.75 and a 200 day simple moving average of $66.65. The stock has a market capitalization of $13.34 billion, a price-to-earnings ratio of 215.60, a P/E/G ratio of 0.57 and a beta of 0.68.

Incyte (NASDAQ:INCY - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The biopharmaceutical company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.01 by $0.15. Incyte had a net margin of 0.48% and a return on equity of 2.77%. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $996.17 million. During the same quarter last year, the business earned $0.64 earnings per share. Incyte's quarterly revenue was up 19.5% compared to the same quarter last year. As a group, research analysts expect that Incyte Corporation will post 4.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on INCY. JPMorgan Chase & Co. cut their target price on shares of Incyte from $68.00 to $67.00 and set a "neutral" rating for the company in a research report on Monday. Stifel Nicolaus upgraded shares of Incyte from a "hold" rating to a "buy" rating and boosted their target price for the company from $75.00 to $107.00 in a research report on Monday, June 16th. Morgan Stanley cut their target price on shares of Incyte from $69.00 to $65.00 and set an "equal weight" rating for the company in a research report on Monday, March 24th. Truist Financial upped their price target on shares of Incyte from $72.00 to $73.00 and gave the stock a "hold" rating in a research report on Tuesday, May 27th. Finally, Wells Fargo & Company upped their price target on shares of Incyte from $58.00 to $59.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Incyte presently has an average rating of "Hold" and a consensus target price of $74.47.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in INCY. Proficio Capital Partners LLC bought a new stake in shares of Incyte in the 4th quarter valued at about $3,549,000. Raymond James Financial Inc. acquired a new stake in Incyte during the 4th quarter valued at approximately $3,623,000. Sequoia Financial Advisors LLC increased its holdings in shares of Incyte by 8.7% during the 4th quarter. Sequoia Financial Advisors LLC now owns 4,922 shares of the biopharmaceutical company's stock valued at $340,000 after purchasing an additional 395 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Incyte by 161.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,275 shares of the biopharmaceutical company's stock valued at $88,000 after purchasing an additional 787 shares in the last quarter. Finally, Avantax Advisory Services Inc. increased its holdings in shares of Incyte by 5.1% during the 4th quarter. Avantax Advisory Services Inc. now owns 7,880 shares of the biopharmaceutical company's stock valued at $544,000 after purchasing an additional 380 shares in the last quarter. Hedge funds and other institutional investors own 96.97% of the company's stock.

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.